PUBLISHER: The Business Research Company | PRODUCT CODE: 1668427
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668427
Military power solutions encompass tools designed for powering military devices and machinery, ranging from smaller electronic gadgets to larger military vehicles. These power solutions play a crucial role in ensuring the functionality and operational capability of various military equipment.
The main types of military power solutions are portable and non-portable. Non-portable solutions are characterized by their size, weight, complexity, or secure fastening, making them less easily transportable. These solutions are specifically engineered to withstand the harsh environmental and electrical conditions associated with military applications. Various sources of power solutions include batteries, generators, fuel cells, energy harvesters, and other sources. Additionally, these power solutions come in various wattages, categorized as low power, medium power, and high power, and are utilized across different military platforms, including air, land, and sea.
The military power solutions market research report is one of a series of new reports from The Business Research Company that provides military power solutions market statistics, including military power solutions industry global market size, regional shares, competitors with a military power solutions market share, detailed military power solutions market segments, market trends and opportunities, and any further data you may need to thrive in the military power solutions industry. This military power solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The military power solutions market size has grown strongly in recent years. It will grow from$9.3 billion in 2024 to $10.14 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to operational readiness requirements, deployability and portability needs, energy efficiency initiatives, remote and harsh environment operations, logistical challenges mitigation
The military power solutions market size is expected to see strong growth in the next few years. It will grow to $14.43 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to modernization and technological integration, renewable energy integration, electrification of military platforms, hybrid and smart power systems, resilience and redundancy requirements. Major trends in the forecast period include integration of energy storage systems, remote monitoring and control, cybersecurity measures, focus on energy efficiency.
The anticipated increase in defense spending is poised to drive the growth of the military power solutions market in the future. Defense budget, encompassing the expenditure on military activities and allocations for armed forces maintenance, plays a pivotal role in supporting military capabilities, including training, thereby promoting the adoption of military power solutions. In April 2022, Russia exhibited a 2.9% increase in military spending to $65.9 billion in 2022, marking the third consecutive year of growth. With military expenditure reaching 4.1% of GDP in 2021, the budgetary boost reinforced Russia's military capabilities near the Ukrainian border. Consequently, the rise in defense budgets serves as a catalyst for the expansion of the military power solutions market.
The rise in terrorism is anticipated to drive growth in the military power solution market in the future. Terrorism is defined as the deliberate and systematic use of violence, often aimed at civilians, to instill fear, create panic, and achieve political, ideological, or religious goals. As nations enhance their defense capabilities to combat the threat of terrorism, the demand for innovative and robust military power solutions has grown. These solutions are essential for providing reliable and efficient energy sources in various defense applications, including surveillance, communication, and operational activities. For example, in February 2024, The Institute for Economics and Peace, an Australia-based international think tank, reported that terrorist attacks became increasingly lethal in 2023, averaging 2.5 deaths per attack compared to 1.6 in 2022. Therefore, the rising incidence of terrorism is fueling the growth of the military power solution market.
Product innovation emerges as a prominent trend driving the military power solutions market, with major companies prioritizing the development of inventive products to strengthen their market positions. In August 2022, Advent Technologies, a US-based company specializing in fuel cells and hydrogen clean-up devices for the military sector, unveiled the Honey Badger 50 (HB50). This innovative on-the-go soldier system operates within an ambient temperature range of -20°C to +55°C and is designed for soldier-worn configurations, operating inside portable backpacks and vehicles while charging batteries and powering soldier systems.
Major companies in the Military Power Solutions Market are focusing on developing innovative batteries, such as NATO 6T batteries, to improve energy efficiency, durability, and performance in challenging environments. NATO 6T batteries are heavy-duty rechargeable batteries typically available in lead-acid or lithium-ion configurations. They are designed for high durability, long-lasting power, and reliability in extreme conditions, including heat, cold, vibration, and moisture. These batteries are primarily utilized in military vehicle communication systems, radar, and other mission-critical equipment. For example, in August 2024, Epsilor Electric Fuel Ltd., an Israel-based battery manufacturer, introduced the Military High Voltage Battery System, tailored to meet the growing power demands of modern defense applications. This innovative system enables multiple standard NATO 6T batteries to be interconnected, increasing voltage and capacity. Additionally, it manages the operation to ensure optimal performance and safety for each battery in the series.
In August 2022, Cummins Inc., a US-based manufacturer of power generation devices and engines, acquired Meritor Inc. for an undisclosed amount. This strategic acquisition positions Cummins to expand its military business in Australia, with Meritor Inc. contributing to power solutions for the military sector.
Major companies operating in the military power solutions market include Arotech Corporation, Concorde Battery Corporation, Cummins Inc., Denchi Group, EnerSys, Eniquest Pty Ltd., Himoinsa S.L., Raytheon Technologies Corporation, Saft Groupe S.A., SFC Energy AG., Energy Technologies Inc., Schaefer Inc., Gresham Power Electronics Limited, Advanced Conversion Technology, Inventus Power Inc., Bren-Tronics Inc., Ultralife Corporation, L3Harris Technologies Inc., General Dynamics Corporation, Lockheed Martin Corporation, British Aerospace plc, Northrop Grumman Corporation, Safran SA, Thales Nederland B.V., Elbit Systems Ltd., Leonardo S.p.A., Rheinmetall AG, Saab AB, Hanwha Defense, Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries Ltd., Hyundai Rotem Company, Oshkosh Defense LLC, EaglePicher Technologies LLC
North America was the largest region in the global military power solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the military power solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the military power solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The military power solutions market consists of sales of COTS (Commercial-Off-The-Shelf), MOTS (Military-Off-The-Shelf), and customized power generation solutions. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Military Power Solutions Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on military power solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for military power solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The military power solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.