The growth of electric vehicles (EV) in the consumer automotive market over the past decade has accelerated interest from the defense sector in the potential benefits and commercial opportunities battery electric vehicles and hybridized vehicle designs could provide. As the pressure for military modernization encounters increasingly pressing environmental sustainability objectives, military and defense industry officials are highlighting the geostrategic benefits of electrification in land vehicle fleets. Government agencies are increasingly collaborating with companies throughout the EV value chain, with investments in areas such as platform design, battery technologies, energy infrastructure, logistical services, and manufacturing capabilities.
Several automotive, energy, and technology firms-including leading EV companies like Tesla-are acceding to the defense market as demand for expertise provides opportunities for expansion into this sector. Meanwhile, specialist defense primes are also expanding their offering relating to vehicle electrification, with hybridization solutions becoming a popular stepping stone for militaries seeking to explore the benefits and challenges of expanding EV adoption.
By the end of 2022, the Global Vehicle Parc Database estimates there were 18.9 million battery electric vehicles on the road globally-equating to a 1.3% total share. Production of battery EVs grew by 70% in 2022 compared with the previous year, reaching 7.78 million units. This growth in manufacturing is impressive considering the general declines in vehicle sales and production due to the impact of COVID-19 and the associated chip shortage.iod.
Several automotive, energy, and technology firms-including leading EV companies like Tesla-are acceding to the defense market as demand for expertise provides opportunities for expansion into this sector. Meanwhile, specialist defense primes are also expanding their offering relating to vehicle electrification, with hybridization solutions becoming a popular stepping stone for militaries seeking to explore the benefits and challenges of expanding EV adoption.
By the end of 2022, the Global Vehicle Parc Database estimates there were 18.9 million battery electric vehicles on the road globally-equating to a 1.3% total share. Production of battery EVs grew by 70% in 2022 compared with the previous year, reaching 7.78 million units. This growth in manufacturing is impressive considering the general declines in vehicle sales and production due to the impact of COVID-19 and the associated chip shortage.iod.
Key Highlights
- Studies of emerging technological trends and their broader impact on the defense market.
- Analysis of the various military EV platforms, programs and projects currently under development, as well as the impact of emerging technologies such as battery technology and alternative fuel solutions on the future outlook of the military EV theme.
Who Should Buy
- Our thematic research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world, decision makers, and institutional investors.
- Corporations: Helps CEOs, CTOs, and other senior executives of companies understand this key theme, the competitive environment, and the market opportunities.
- Investors: Helps fund managers and other major investors focus on investment opportunities in Defense and understand the market around military electric vehicles.
Scope
- The key defense challenges that forces and defense sector suppliers face are covered.
- The investment opportunities for armed forces, suppliers, and institutional investors, across the whole military EV value chain are covered.
- Highlights from the range different military EV related research and development programs currently being undertaken by various military organizations and defense companies.
Reasons to Buy
- Determine potential investment companies based on trend analysis and market projections.
- Gaining an understanding of the market challenges and opportunities surrounding the electric vehicles in defense theme.
- Understanding how spending on military EVs and related segments will fit into the overall market and which spending areas are being prioritized.
Table of Contents
- Executive summary
- Players
- Technology briefing
- Electric vehicles - an overview
- Types of electric vehicles
- Energy sources - batteries, fuel cells and generators
- Electrified operations - transformative or reductive
- Strategic and operational benefits of electrification
- Electric vehicles and the defense industry
- Trends
- Technology Trends
- Macroeconomic trends
- Regulatory trends
- Industry analysis
- Market size and growth forecasts
- Mergers and acquisitions
- Patent trends
- Hiring trends
- Case Studies
- Timeline
- Value Chain
- Batteries
- Semiconductors
- Auto components
- Assembly
- Infrastructure & services
- Companies
- Consumer EV companies
- Defense companies
- Sector Scorecards
- Defense scorecard
- Glossary
- Further reading about Thematic Research Methodology
- About the Publisher
- Contact the Publisher
- Technology trends
- Macroeconomic trends
- Regulatory trends
- Mergers and acquisitions
- Companies: Consumer EV companies
- Companies: Defense companies
- Glossary
- Further Reading
- Leading players in the military EV theme
- EV powertrains as a proportion of all new powertrains 2016-2028
- EV production share by largest automotive OEMs, 2022 vs 2028
- Battery supply agreements, mapped by OEM
- EV production forecast by region (top 14 markets) 2016-2036
- Electric vehicle patent trends by volume, 2003 to 2023
- EV hiring trends - active job posting by volume, 2020-2023
- The electric vehicles in defense story
- The electric vehicles value chain
- The batteries value chain
- The semiconductors value chain
- The auto components value chain
- The assembly value chain
- The infrastructure & services value chain
- Sector scorecard - Companies
- Sector scorecard - Thematic
- Sector scorecard - Valuation
- Sector scorecard - Risk
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Arrival
- BAIC
- BMW
- BYD
- Dongfeng
- FAW
- Ford
- Geely
- Honda
- Hyundai
- Mazda
- Mercedes-Benz
- Nikola
- NIO
- Nissan
- Renault
- Rimac
- Rivian
- SAIC
- Stellantis
- Tesla
- Toyota
- Volkswagen
- Alke
- Arquus
- BAE Systems
- Babcock International
- Canoo
- GM
- Iveco
- Leonardo
- QinetiQ
- OstaraLab
- Renk
- Rheinmetall
- Tatra
- Texelis
