The military vehicle electrification is a tactical vehicle with the hybrid-electric abilities with in-hub electric drive. Electrification technologies are constantly being developed by armies all across the world and could be soon integrated into their fleets of tactical wheeled vehicles. Countries across the world are hugely investing in research & development of electric military vehicles to obtain stealth, swift and robust features to their military hardware. The electronic warfare is entering into new dimensions every year and hardware electrification is the requirement of the hour for various armies to achieve tactical edge over their respective adversaries. Substantial increase in the demand in global military vehicle electrification market can be ascribed to the increasing adoption as well as launching of new technologies. Increasing demand for vehicles and equipment operating on sustainable energy is also another key factor catalyzing growth in global military vehicle electrification market in recent times. In addition, the rising investments in military and armed forces are also boosting the demand in global military vehicle electrification market. Increasing efforts on research and development in the field of vehicle electrification are also enhancing high development opportunities in the global military vehicle electrification market. Moreover, the surging demand for lithium –ion batteries to be installed in military vehicles can also be considered as a significant driver for the growth of global military vehicle electrification market in coming years. Improved performance provided by the lithium –ion batteries, unlike traditional lead –acid batteries is complementing this trend in global military vehicle electrification market. Lithium –ion batteries obtain significant demand in global military vehicle electrification market due to their features such as higher specific energy, cycle life improvement and higher energy density. Apart from this, the factors such as minimal range of military electric vehicles are likely to impede the market growth.

Furthermore, the hydrogen fuel cell vehicles are advancements in all-electric vehicles which are generating growth opportunities for the market. In contrast, fuel cell-powered vehicles use hydrogen gas for fine chemical reactions which is converted into electrical energy. There has been a surging demand for hydrogen fuel cells in the transport sector for the logistics of military cargo, equipment, and artillery. In March 2019, Plug Power introduced a new product to improve its range of hydrogen-based fuel cells. The ProGen 30kW engine offers a cost-effective solution to meet the requirements of today’s electric vehicles (EV), as well as high utilization and reliable performance in harsh environments, rapid fueling and zero emissions.

The global Military Vehicle Electrification Market is segregated on the basis of Technology as Hybrid and Fully Electric. Based on Platform the global Military Vehicle Electrification Market is segmented in Combat vehicles, Support vehicles and Unmanned armored vehicles. Based on System the global Military Vehicle Electrification Market is segmented in Power Generation, Cooling Systems, Energy Storage, Traction Drive Systems and Power Conversion. Based on Operation the global Military Vehicle Electrification Market is segmented in Manned and Autonomous/semi-autonomous.

The global Military Vehicle Electrification Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Military Vehicle Electrification Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

BAE Systems, Flensberg Fahrzeugbau Gesellschaft Gmbh, Krauss-maffei Wegmann, General Dynamics, Otokar Otomotive Ve Savunma Sanayi and others are among the major players in the global Military Vehicle Electrification Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In December 2020, US Army Awards General Dynamics $ 4.6 Billion Contract for Latest Configuration to manufacture M1A2 SEPv3 Abrams Main Battle Tanks. The contract comprises of the modification and up gradation of communication, fire control, reliability, lethality, sustainment and fuel efficiency.
• In July 2020, BAE Systems has been granted a $ 32 million prototype contract by the U.S. Army’s Rapid capabilities and Critical Technologies office (RCCTO) to incorporate a Hybrid Electric Drive (HED) system onto a Bradley Fighting Vehicle.
• In June 2020, GM Defense has signed a contract of $ 214.3 Million from the U.S army for the manufacturing and maintenance of new Infantry Squad vehicles, based on GM’s Chevrolet Colorado ZR2.

The global Military Vehicle Electrification Market has been segmented as below:

Military Vehicle Electrification Market, By Technology

• Hybrid
• Fully Electric

Military Vehicle Electrification Market, By Platform

• Combat vehicles
• Support vehicles
• Unmanned armored vehicles

Military Vehicle Electrification Market, By System

• Power Generation
• Cooling Systems
• Energy Storage
• Traction Drive Systems
• Power Conversion

Military Vehicle Electrification Market, By Operation

• Manned
• Autonomous/semi-autonomous

Military Vehicle Electrification Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Military Vehicle Electrification Market, By Company

• BAE Systems
• Flensberg Fahrzeugbau Gesellschaft Gmbh
• Krauss-maffei Wegmann
• General Dynamics
• Otokar Otomotive Ve Savunma Sanayi
• Leonardo SPA
• Textron Inc.
• General Motors
• Oshkosh Corporation
• Nikola Motor Company
• Qinetiq Group Plc
• Arquus
• Epsilor Electric Fuel Ltd
• Nexter Group
• Ukroboronprom
• Polaris Industries Inc
• St Engineering
• Ballard Power Systems
• Aselsan A.s.
• Tesla Inc.
• Milrem Robotics
• AM General

The report covers the below scope:

• Global Military Vehicle Electrification Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Military Vehicle Electrification Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Military Vehicle Electrification Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Military Vehicle Electrification Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Military Vehicle Electrification Market share. Major industry players with significant revenue share include BAE Systems, Flensberg Fahrzeugbau Gesellschaft Gmbh, Krauss-maffei Wegmann, General Dynamics, Otokar Otomotive Ve Savunma Sanayi and others.

Why to Buy this Report:

• Gain detailed insights on the Military Vehicle Electrification industry trends
• Find complete analysis on the market status
• Identify the Military Vehicle Electrification Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement