PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568624
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568624
Military Vehicle Electrification Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global Military Vehicle Electrification Market size is projected to expand at over 26.7% CAGR from 2024 to 2032, led by increasing partnerships and collaborations.
Companies and defense agencies are collaborating to develop and implement advanced electric and hybrid propulsion systems tailored for military applications. These joint efforts not only enhance the efficiency, range, and performance of military vehicles but also diminish their dependence on conventional fuels. This drive towards sustainable and advanced technological solutions is spurring innovations in battery technology, power management systems, and vehicle integration. For example, in May 2024, Solus Power and QinetiQ inked an MOU for propelling the advancement of electrified military vehicles. This collaboration is not only refining EV charging solutions but also paving the way for the next generation of electric military vehicles.
The overall market is segregated into platform, system, technology, mode of operation, voltage type, and region.
Based on platform, the military vehicle electrification market share from the unmanned armored vehicles segment is estimated to rise at a significant rate from 2024 to 2032. This surge is attributed to the enhanced operational efficiency and safety of these vehicles. By integrating electric propulsion systems into these unmanned platforms, organizations aim to boost energy efficiency, lessen logistical support demands, and extend operational range. The transition to electric-powered unmanned vehicles not only offers a quieter and more reliable operation but also champions environmentally friendly military solutions.
Military vehicle electrification industry value from the fully electric technology segment is anticipated to expand at a substantial CAGR through 2032. The expansion is due to the shift towards fully electric technologies in battery technology for energy management, and vehicle design for delivering more efficient and reliable military solutions. Subsequently, advancements are supporting the creation of fully electric platforms capable of meeting demanding operational requirements while minimizing environmental impacts.
Europe military vehicle electrification market size is projected to depict robust growth between 2024 and 2032, driven by significant government and defense investments. Agencies are channeling considerable funds into the research, development, and deployment of electric propulsion systems for military use. These investments are poised to catalyze advancements in battery technology, power management, and vehicle integration, ultimately leading to more efficient and sustainable military solutions across the region.
Table of Contents
Chapter 1 Scope and Methodology
- 1.1 Market scope and definition
- 1.2 Base estimates and calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2023
Chapter 5 Market Estimates and Forecast, By Platform, 2021 - 2032 (USD Million)
Chapter 6 Market Estimates and Forecast, By System, 2021 - 2032 (USD Million)
Chapter 7 Market Estimates and Forecast, By Technology, 2021 - 2032 (USD Million)
Chapter 8 Market Estimates and Forecast, By Mode of Operation, 2021 - 2032 (USD Million)
Chapter 9 Market Estimates and Forecast, By Voltage Type, 2021 - 2032 (USD Million)
Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Million)
Chapter 11 Company Profiles
