Military Vehicle Electrification Market - Trends Forecast Till 2028

Market Overview

The Military Vehicle Electrification Market size is projected to reach a CAGR of 12.5% from 2021 to 2028.

Military vehicles installed with a high amount of electronics require a large amount of electrical power, which is expected to significantly limit battery capacity as capacity tends to reduce at higher rates of discharge. They have higher specific energy, energy density and cycle life compared to lead-acid batteries.

Increasing new technologies in demand of going green is the major factor that has supported long-term expansion for Military Vehicle Electrification Market.

Regional Analysis

The Asia Pacific Military Vehicle Electrification market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific Military Vehicle Electrification market is primarily driven by increasing focus on increasing expenditure on the procurement of military vehicles by major economies in this region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Alke
• AM General
• Arquus
• Aselsan A.S.
• BAE Systems
• Ballard Power Systems
• Epsilor Electric Fuel Ltd
• Flensburger Fahrzeugbau Gesellschaft GmbH
• General Dynamics
• General Motors
• Highland Systems
• Krauss-Maffei Wegmann
• Leonardo Spa
• Mega Engineering Vehicles Inc.
• Milrem Robotics
• Nexter Group

Recent Developments

• In February 2021, Elbit systems won a contract of USD 46 Million to supply a 6*6 Armor Personnel Carrier integrated with an electric drive, fire control systems, and stabilization systems to an army in Asia Pacific region
• In December 2020, Honeywell secured a contract worth USD 1 Billion from the US Army towards the development of Automotive gas turbine 1500 engine modification for main battle tank will drive the electrification progress in this platform.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Military Vehicle Electrification Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope