Military Vehicle Electrification Market

Military Vehicle Electrification Market by Platform (Combat Vehicles, Support Vehicles, Unmanned Armored Vehicles), System, Technology (Hybrid, Fully Electric), Mode of operation, Voltage Type and Region - Global Forecast to 2030

Report Code: AS 7916 Jan, 2024, by marketsandmarkets.com

[270 Pages Report] The Military Vehicle Electrification Market is estimated to be USD 4.1 Billion in 2023 and is projected to reach USD 20.4 Billion by 2030, at a CAGR of 25.6 % from 2023 to 2030. The key driving factor for the growth of the Military Vehicle Electrification Industry lies in the intersection of technological advancements, operational efficiency, and environmental sustainability. The imperative to enhance military capabilities while simultaneously addressing global concerns about climate change has led to a heightened focus on electrification. Electric military vehicles offer advantages such as reduced fuel dependency, lower operational costs, and enhanced tactical capabilities. The integration of advanced battery technologies, including improved energy density and faster charging, not only extends operational range but also ensures rapid response capabilities in the field. Additionally, the adoption of electric propulsion aligns with the broader trend toward autonomous and intelligent systems, providing opportunities for optimizing logistics, maintenance, and overall mission effectiveness.

Military Vehicle Electrification Market

Military Vehicle Electrification Market

Military Vehicle Electrification Market Forecast to 2030

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Military Vehicle Electrification Market Dynamics:

Drivers: Advanced Modern Battlefield Requirements

Hybrid and fully electric military vehicles yield operational benefits, such as facilitating extended range and improving the onboard power capability for electrified armor, jammers, and directed-energy weapons. Other advantages of military vehicle electrification (MVE) include reduced fuel consumption, reduced acoustic and thermal signature, silent mobility, and lower maintenance and logistics footprint. Military operations require vehicles that can quickly traverse varied terrains, from urban landscapes to rugged terrains and unpredictable battle zones. Electric military vehicles offer superior acceleration, instantaneous torque, and improved maneuverability, providing a significant tactical advantage in dynamic scenarios. In 2022, the Indian Defence research wing collaborated with Pravaig Dynamics (India) to develop an electric tactical vehicle with an acceleration of 0–100 Kmph in 5 seconds.

The imperative for reduced acoustic signatures and enhanced stealth capabilities further propels the adoption of electric propulsion. Silent and discreet operations are critical in modern warfare, where avoiding detection by adversaries is paramount. Electric vehicles contribute to a quieter operational profile, enabling stealthy movements and covert operations crucial for gaining a strategic edge on the battlefield. In 2022, General Dynamics (US) revealed the Abrams X main battle tank that can enable operations from static positions and potentially on the move at low speeds over shorter distances in a very quiet all-electric mode.

Restraints: in Need for Balanced Power-to-Weight Ratio

The power-to-weight ratio serves as a significant restraint in the military vehicle electrification market, posing challenges to the widespread adoption of electric propulsion systems in certain military applications. Military vehicles often require high power outputs to support heavy armor, weaponry, and various mission-specific equipment. Achieving a balance between the power needed for optimal performance and the weight constraints imposed by energy storage systems, such as batteries, is a complex engineering challenge. Current battery technologies face limitations in terms of energy density and weight. The high energy requirements of military operations necessitate large and heavy battery packs to provide sufficient power, leading to concerns about overall vehicle weight and performance. The requirement for substantial armor, specialized equipment, and the capability for prolonged operations intensifies the challenge of managing vehicle weight. This weight constraint hinders the incorporation of electrification technologies, such as heavy battery systems, into military vehicle designs. The Bradley Infantry Fighting Vehicle (IFV) is a key piece of the US Army's armored capabilities. If the Bradley is electrified, the US Army would need to ensure that the added weight from the batteries does not significantly impact its operational performance. The Bradley is designed for mobility, protection, and firepower. Any increase in weight from electrification would need to be carefully balanced against these requirements.

Opportunities: Growing Demand for Hydrogen Fuel Cell Systems

Hydrogen fuel cell vehicles are an advancement in all electric vehicles. In contrast, fuel cell powered vehicles use hydrogen gas for subtle chemical reactions, which are transformed into electrical energy. There has been an increasing demand for hydrogen fuel cells in the transport industry for the logistics of military cargo, equipment, and artillery. In 2020, the US Army Research Laboratory focused on developing hydrogen military vehicles, such as main battle tanks and infantry fighting vehicles.

The inherent advantages of hydrogen, such as high energy density and rapid refueling capabilities, make it a viable option for military applications where range, endurance, and quick deployment are paramount. These fuel cells reduce the carbon footprint of military operations and enhance operational flexibility by offering extended mission ranges without compromising power. The modularity of hydrogen fuel cell systems allows for versatile integration across different types of military vehicles, from armored personnel carriers to logistics vehicles, enhancing the overall versatility of a hydrogen-powered fleet.

Challenges: Lifecycle and Durability Issues of Integrated Systems

The key concerns of modernizing military vehicles are their weight and power. Military vehicles should be resilient enough to withstand the standard demands of the industry. Modern military vehicles are required to be reliable for operation on rough terrain, should be functional in extreme temperatures, and be water-resistant. Internal electronic materials such as connectors, headers, and terminals are designed to be rugged.

The series includes connectors designed for the truck, bus, and off-highway sectors, such as the HD30 series, which are constructed from metal shells to meet the needs of the heavy-duty and transportation industry. The connectors operate at high temperatures and do not exhibit mechanical or physical damage after sinusoidal vibration levels, owing to the increase in the number of components needed to perform vital functions. The complexity involved in reducing the size and weight of digital battlefield products is expected to make the manufacturing process increasingly expensive. Industry players need to install sophisticated machinery and invest in R&D activities to increase device efficiency. Undertaking efforts to minimize the associated weight and size of devices while maintaining their advanced features may create barriers to the growth of the military vehicle electrification market.

Military Vehicle Electrification Market Ecosystem

Oshkosh Corporation (US), GM Defense LLC (US), General Dynamics Corporation (US), BAE Systems (UK), Leonardo S.p.A. (Italy), Textron Inc. (US), ST Engineering (Singapore), Qinetiq (UK), Polaris Inc. (US), Aselsan AS (Turkey), Otokar Otomotiv ve Savunma Sanayi AS (Turkey), Krauss-Maffei Wegmann (Germany)are some of the leading companies in the military vehicle electrification market.

Military Vehicle Electrification Market by Ecosystem

Based on Batteries, the Lithium Ion Segment Accounts for the Highest Market Share in the Military Vehicle Electrification Market During the Forecast Period

Lithium-ion (Li-ion) batteries are anticipated to lead the military vehicle electrification market due to their exceptional energy density, efficiency, and proven reliability. The demanding requirements of military operations, including high energy storage, rapid charging capabilities, and durability, align well with the strengths of Li-ion technology. These batteries provide a compact and lightweight solution, crucial for military vehicles seeking to balance energy storage capacity with payload considerations.

Moreover, the ability of Li-ion batteries to deliver consistent and high power output enhances the performance of electric military vehicles during critical missions. The versatility of Li-ion technology allows for various form factors, accommodating the diverse designs and configurations of military platforms.

Based on Combat Vehicles, the Main Battle Tanks Segment is Projected to Grow at the Highest Rate During the Forecast Period

Main Battle Tanks (MBTs) are anticipated to grow at the highest rate in military vehicle electrification due to a confluence of strategic, technological, and operational imperatives. As modern warfare evolves, there is a growing recognition that traditional armored vehicles, like MBTs, need to adapt to emerging challenges. Electrification offers MBTs a transformative leap in capabilities, providing increased operational flexibility, efficiency, and a reduced logistical burden. The inherent torque and power characteristics of electric propulsion systems enhance the agility and responsiveness of MBTs on the battlefield, crucial for navigating diverse terrains and responding rapidly to dynamic threats.

Based on Batteries, the Fuel Cell Segment Segment is Projected to Grow at the Highest Rate During the Forecast Period

Fuel cells are anticipated to lead military vehicle electrification due to their unique advantages in addressing specific operational challenges faced by the military. Hydrogen fuel cells offer a compelling solution, providing longer operational ranges and quicker refueling compared to traditional batteries. These attributes are crucial in military applications where mobility, endurance, and rapid deployment are paramount. Fuel cell-powered military vehicles boast reduced logistical burdens as they can operate for extended periods without frequent refueling, enhancing strategic flexibility and operational efficiency. Furthermore, fuel cells generate electricity through a chemical reaction between hydrogen and oxygen, emitting only water vapor as a byproduct. This aligns with the military's increasing focus on sustainability and environmental considerations.

North America is Expected to Lead the Military Vehicle Electrification Market in 2023

North America is expected to lead the military vehicle electrification market due to a convergence of technological expertise, robust defense budgets, and a commitment to environmental sustainability. The region houses some of the world's most advanced defense industries and cutting-edge research facilities, fostering innovation in electric propulsion systems and energy storage technologies. With a strong emphasis on modernization and maintaining a technological edge, the U.S. Department of Defense has been actively investing in electric and hybrid-electric military vehicle programs. The integration of electric vehicles aligns with the U.S. military's goal of enhancing operational efficiency, reducing reliance on traditional fuel sources, and mitigating logistical challenges.

Furthermore, the region's commitment to environmental initiatives and reducing carbon footprints has prompted defense agencies to explore cleaner and more sustainable alternatives. Stringent emission regulations and a growing awareness of the environmental impact of traditional military vehicles are driving the adoption of electric propulsion systems. Additionally, public-private partnerships, research collaborations, and a supportive regulatory environment contribute to North America's leadership in advancing military vehicle electrification, making it a focal point for industry players and ensuring the region's pivotal role in shaping the future of electrified military fleets.

Military Vehicle Electrification Market
 by Region

Military Vehicle Electrification Market by Region

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Military Vehicle Electrification Industry Companies: Top
Key Market Players

Military Vehicle Electrification Companies are dominated by globally established players such as Oshkosh Corporation (US), GM Defense LLC (US), General Dynamics Corporation (US), BAE Systems (UK), Leonardo S.p.A. (Italy), Textron Inc. (US), ST Engineering (Singapore), Qinetiq (UK), Polaris Inc. (US), Aselsan AS (Turkey), Otokar Otomotiv ve Savunma Sanayi AS (Turkey), Krauss-Maffei Wegmann (Germany). These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Scope of the Report

Report Metric

Details

Estimated Market Size

USD 4.1 Billion in 2023

Projected Market Size

USD 20.4  Billion by 2030

Growth Rate

25.6%

Market Size Available for Years

2019–2030

Base Year Considered

2022

Forecast Period

2023–2030

Forecast Units

Value (USD million)

Segments Covered

By Platform, by System, by Technology, by Mode of Operation, by Voltage Type, and Region

Geographies Covered

North America, Europe, Asia Pacific, Middle East and Rest of the World

Companies Covered

Oshkosh Corporation (US), GM Defense LLC (US), General Dynamics Corporation(US), BAE Systems (UK), Leonardo S.p.A. (Italy),Textron Inc. (US), ST Engineering (Singapore), Qinetiq (UK), Polaris Inc. (US), Aselsan AS (Turkey), Otokar Otomotiv ve Savunma Sanayi AS (Turkey), Krauss-Maffei Wegmann (Germany), Flensburg Fahrzeugbau GmbH (Germany), Polaris Inc. (US), Rheinmetall AG (Germany), Arquus Defence (France), Epsilor Electric Fuel Ltd ( Israel), Nexter Group (France), Ukroboronprom (Ukraine), Milrem Robotics (UK), AM General (US), Highland Systems (US), Alke(Italy), Mega Engineering Vehicles Inc. (US), FNSS (Turkey)

Military Vehicle Electrification Market Highlights

This research report categorizes the Military Vehicle Electrfication market based on Platform, System, Technology, Mode of Operation, Voltage Type, and Region.

Segment

Subsegment

By Platform:

  • Combat Vehicles
    • Main battle tank (MBT)
    • Infantry fighting vehicle (IFV)
    • Weapon systems armored personnel carrier (APC)
    • Armored amphibious vehicle (AAV) 
    • Mine-Resistant Ambush Protected Vehicle (MRAP)
    • Light armored vehicle (LAV)
    • Self-propelled howitzer
    • Mortar carrier
    • Air defense vehicle
  • Support Vehicles
    • Supply Trucks
      • Fuel truck
      • Ambulance
      • Ammunition replenishment vehicle
    • Command and control vehicle
    • Repair and recovery vehicle
    • Others (Transportation, Mine clearance vehicle)
  • Unmanned armored vehicles.

By System: 

  • Power Generation
    • Engine/Generator
    • Generator controller
    • Air induction system
    • Traction motor/Propulsion motor
  • Cooling Systems
    • Heat exchanger
    • Fans
  • Energy Storage
    • Batteries
      • Lead-acid Battery
      • Nickel Metal Hydride Battery
      • Lithium-ion battery/Lithium- Polymer Battery
      • Solid-state battery
      • Other Batteries [Lithium Nickel Manganese Cobalt (Li-NMC), Lithium Iron Phosphate (LFP), Lithium Cobalt Oxide (LCO), Lithium Titanate Oxide (LTO), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA)]
    • Fuel Cells
  • Traction Drive Systems/Propulsion Systems
    • Ex-drive
    • Traction Controller
    • Final Drive
  • Power Conversion
    • DC-DC Converter
    • Power Inverter
    • Onboard Charger (Alternator)
  • Transmission System

By Technology:

  • Hybrid
  • Fully Electric

By mode of operation:

  • Manned
  • Autonomous/Semi-autonomous

By Voltage Type:

  • Low Voltage (Less than 50 V)
  • Medium Voltage (50-600 V)
  • High Voltage (More than 600 V)

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East
  • Rest of the World

Recent Developments

  • In July 2022 GM Defense, a subsidiary of General Motors, was selected by the US Army to provide a battery electric vehicle for analysis and demonstration. GM Defense will leverage the GMC HUMMER EV, featuring GM’s Ultium Platform, to meet the US Army’s requirement for a light to heavy-duty battery electric vehicle.
  • In 2020 BAE Systems was awarded a USD 32 million prototype agreement by the US Army’s Rapid Capabilities and Critical Technologies office (RCCTO) to integrate a Hybrid Electric Drive (HED) system onto a Bradley Fighting Vehicle.

Key Questions Addressed by the Report:

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Table of Contents
 
1 introduction (Page No. - 37)
    1.1 study objectives 
    1.2 market definition 
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 Military VEHICLE ELECTRIFICATION MARKET segmentation
           1.3.2 Regional Scope
           1.3.3 Years considered
    1.4 INCLUSIONS and EXCLUSIONS 
           TABLE 1 inclusions and exclusions
    1.5 currency considered 
           TABLE 2 USD exchange rates
    1.6 stakeholders 
    1.7 Summary of changes 
 
2 RESEARCH METHODOLOGY (Page No. - 43)
    2.1 RESEARCH DATA 
           FIGURE 2 RESEARCH PROCESS FLOW
           FIGURE 3 RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key industry insights
                    2.1.2.2 Key data from primary sources
    2.2 Research approach ANd Methodology 
           2.2.1 bottom-up APPROACH
                    2.2.1.1 Approach to arrive at market size using bottom-up approach
                               FIGURE 4 market size estimation methodology: bottom-up APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 Factor Analysis 
           2.3.1 Introduction
           2.3.2 demand-side indicators
                    2.3.2.1 Strategic mobility requirements
                    2.3.2.2 Operational flexibility
                    2.3.2.3 Fuel efficiency and logistical considerations
                    2.3.2.4 Environmental sustainability goals
           2.3.3 supply-side indicators
                    2.3.3.1 Financial trends of major defense contractors
           2.3.4 Recession Impact Analysis
                    2.3.4.1 Russia-Ukraine war impact analysis
                               2.3.4.1.1 Impact of Russia-Ukraine war on macro factors of military vehicle electrification market
                                            FIGURE 6 IMPACT OF RUSSIA-UKRAINE war on macro factors Of military vehicle electrification market
                                            TABLE 3 Impact of Russia-Ukraine war on micro factors of military vehicle electrification market
                    2.3.4.2 Impact of Russia-Ukraine war on micro factors of military vehicle electrification market
                               FIGURE 7 IMPACT OF RUSSIA-UKRAINE WAR ON MICRO FACTORS OF MILITARY VEHICLE ELECTRIFICATION MARKET
    2.4 market breakdown and data triangulation 
           2.4.1 Data Triangulation
           FIGURE 8 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS 
    2.6 research limitations 
    2.7 Risk analysis 
 
3 Executive Summary (Page No. - 57)
    FIGURE 9 Unmanned armored vehicles segment to register highest CAGR from 2023 to 2030
    FIGURE 10 Medium Voltage to be dominant segment during FORECAST period
    FIGURE 11 hybrid segment to have largest market share during forecast period
    FIGURE 12 autonomous/semi-autonomous segment to hold largest market share (2023–2030)
    FIGURE 13 Energy storage systems to display largest market share during forecast period
    FIGURE 14 North america to exhibit highest cagr during forecast period
 
4 Premium Insights (Page No. - 62)
    4.1 ATTRACTIVE OPPORTUNITIES for players IN military vehicle electrification MARKET 
           FIGURE 15 growing investments, military modernization programs, and technological ADVANCEMENTS to DRIVE MARKET
    4.2 military vehicle electrification market, BY voltage 
           FIGURE 16 medium voltage SEGMENT to lEAD MARKET during forecast period
    4.3 military vehicle electrification market, BY mode of operation 
           FIGURE 17 manned SEGMENT TO ACCOUNT FOR largest MARKET share during forecast period
    4.4 Military vehicle electrification MARKET, BY platform 
           FIGURE 18 Combat vehicles to be dominant segment during forecast period
    4.5 Military vehicle electrification MARKET, BY region 
           FIGURE 19 North america TO have largest market share during forecast period
    4.6 Military vehicle Electrification MARKET, BY country 
           FIGURE 20 France TO BE FASTEST-GROWING MARKET FROM 2023 TO 2030
 
5 Market overview (Page No. - 65)
    5.1 Introduction 
    5.2 market dynamics 
           FIGURE 21 military vehicle electrification market: DRIVERS, Restraints, OPPORTUNITIES, AND CHALLENGES
           5.2.1 Drivers
                    5.2.1.1 Advanced modern battlefield requirements
                    5.2.1.2 Rising demand for electric power sources for military vehicles
                    5.2.1.3 Increasing development of autonomous and unmanned military vehicles
                    5.2.1.4 Growing defense expenditures worldwide
                               TABLE 4 Defense Expenditure by Major Countries (USD Billion)
           5.2.2 Restraints
                    5.2.2.1 Need for balanced power-to-weight ratio
                    5.2.2.2 Limited range of military electric vehicles
                    5.2.2.3 High cost of fuel cell electric vehicles
           5.2.3 Opportunities
                    5.2.3.1 Growing demand for hydrogen fuel cell systems
           5.2.4 Challenges
                    5.2.4.1 Lifecycle and durability issues of integrated systems
                    5.2.4.2 Lack of standardized charging protocols
    5.3 ecosystem analysis 
           5.3.1 Prominent companies
           5.3.2 private and small enterprises
           5.3.3 end users
                    FIGURE 22 ecosystem mapping
                    TABLE 5 role of companies in ecosystem
                    FIGURE 23 KEY PLAYERS IN ecosystem
    5.4 Trends/disruptionS impacting customer business 
           FIGURE 24 Revenue shift and new revenue pockets for MILITARY VEHICLE ELECTRIFICATION manufacturers
    5.5 Technology analysis 
           5.5.1 additive manufacturing
           5.5.2 computerized weapon systems
    5.6 value chain analysis 
           FIGURE 25 value chain analysis
    5.7 case study analysis 
           5.7.1 Main battle tank electrification
           5.7.2 Reconnaissance Vehicle Electrification
    5.8 PRICING ANALYSIS 
           5.8.1 AVERAGE SELLING PRICE trend, BY Battery type (USD Thousand)
                    FIGURE 26 AVERAGE SELLING PRICE trend, BY Battery Type (USD thousand)
                    TABLE 6 AVERAGE SELLING PRICE trend, BY Battery Type (usd Thousand)
    5.9 AVERAGE SELLING PRICE trend, BY Region (USD thousand) 
           FIGURE 27 AVERAGE SELLING PRICE trend OF batteries, BY region (USD thousand)
           TABLE 7 AVERAGE SELLING PRICE trend of batteries, BY Region (USD Thousand)
    5.10 volume analysis 
           TABLE 8 volume data OF Military vehicle electrification, by Technology (UNITs)
    5.11 trade data analysis 
           5.11.1 Import Scenario
                    FIGURE 28 Import data for top 10 countries for HS CODe 8506
           5.11.2 Export scenario
                    FIGURE 29 export data of top 10 countries for HS CODe 8506
    5.12 key stakeholders and buying criteria 
           5.12.1 key stakeholders in buying process
                    FIGURE 30 influence of STAKEHOLDERS on BUYING PROCESS, by TOP three Platforms
                    TABLE 9 influence of STAKEHOLDERS on BUYING PROCESS, by TOP three platforms (%)
           5.12.2 buying criteria
                    FIGURE 31 KEY buying criteria
                    TABLE 10 KEY buying criteria, by top three platforms
    5.13 key conferences and events 
           TABLE 11 key Conferences and Events, 2024–2025
    5.14 Regulatory Landscape 
           TABLE 12 North America: REGULATORY BODIES, GOVERNMENT AGENCIES, and OTHER AGENCIES
           TABLE 13 Europe: REGULATORY BODIES, GOVERNMENT AGENCIES, and OTHER AGENCIES
           TABLE 14 Asia Pacific: REGULATORY BODIES, GOVERNMENT AGENCIES, and OTHER AGENCIES
           TABLE 15 Middle East: REGULATORY BODIES, GOVERNMENT AGENCIES, and OTHER AGENCIES
           TABLE 16 latin america: REGULATORY BODIES, GOVERNMENT AGENCIES, and OTHER AGENCIES
 
6 Industry trends (Page No. - 87)
    6.1 introduction 
    6.2 TECHNOLOGY trends 
           6.2.1 battery sources and types
                    6.2.1.1 Lithium-ion batteries
                    6.2.1.2 Lead-acid batteries
                    6.2.1.3 Nickel metal hydride batteries
                    6.2.1.4 Solid-state batteries
                               TABLE 17 comparison between batteries
           6.2.2 ADVANCED INTEGRATED COMMUNICATION AND NETWORK SYSTEMS
           6.2.3 Lightweight Materials and Designs
           6.2.4 Vehicle-to-grid (V2g) Integration
    6.3 Technology roadmap 
           6.3.1 Introduction
                    FIGURE 32 Technology MAP
           6.3.2 Emerging trends
                    6.3.2.1 Material innovations
                    6.3.2.2 Modular design and upgrade
                    6.3.2.3 Autonomy and AI integration
                    6.3.2.4 Maintenance and support
    6.4 impact of megatrends 
           6.4.1 Autonomous vehicles in military sector
           6.4.2 favorable POLICIES SUPPORTing electrification and hydrogen technologies
    6.5 supply CHAIN ANALYSIS 
           FIGURE 33 supply chain analysis
    6.6 innovations and patent registrations 
           FIGURE 34 patent publication trend, 2013–2023
           TABLE 18 innovations and patent registrations, 2014–2022
 
7 MILITARY VEHICLE ELECTRIFICATION MARKET, by platform (Page No. - 98)
    7.1 introduction 
           FIGURE 35 MILITARY vehicle electrification market, by platform
           TABLE 19 military vehicle electrification MARKET, By platform, 2019–2022 (USD million)
           TABLE 20 military vehicle electrification MARKET, By platform, 2023–2030 (USD MILLION)
    7.2 COMBAT VEHICLES 
           TABLE 21 Military vehicle electrifIcation market, by combat vehicles, 2019–2022 (USD MILLION)
           TABLE 22 Military vehicle electrifIcation market, by combat vehicles, 2023–2030 (USD MILLION)
           7.2.1 Main Battle tanks
                    7.2.1.1 Global security concerns to drive market
           7.2.2 Infantry Fighting vehicles
                    7.2.2.1 Increasing demand from emerging economies to drive market
           7.2.3 Weapon SYSTEMs Armored Personnel Carriers
                    7.2.3.1 Need for versatile and mobile combat platforms to drive market
           7.2.4 armored Amphibious Vehicles
                    7.2.4.1 Rapid and efficient deployment of military capabilities from sea to shore to drive market
           7.2.5 MINE RESISTANT AMBUSH PROTECTED vehicles
                    7.2.5.1 Patrol and combat operations to drive market
           7.2.6 LIGHT ARMORED VEHICLES
                    7.2.6.1 Cross-border patrolling to drive market
           7.2.7 SELF-PROPELLED HOWITZERS
                    7.2.7.1 Enhanced survivability and agility to drive market
           7.2.8 MORTAR CARRIERS
                    7.2.8.1 Ability to provide rapid and responsive artillery support to ground forces to drive market
           7.2.9 AIR DEFENSE VEHICLES
                    7.2.9.1 Protection from aerial threats to drive market
    7.3 SUPPORT VEHICLES 
           TABLE 23 Military vehicle electrification market, by support vehicles, 2019–2022 (USD MILLION)
           TABLE 24 Military vehicle electrification market, by support vehicles, 2023–2030 (USD MILLION)
           7.3.1 SUPPLY TRUCKS
                    TABLE 25 MILITARY VEHICLE ELECTRIFICATION market, by supply trucks, 2019–2022 (Usd million)
                    TABLE 26 MILITARY VEHICLE ELECTRIFICATION market, by supply trucks, 2023–2030 (Usd million)
                    7.3.1.1 Fuel trucks
                               7.3.1.1.1 Enhanced refueling capabilities during extended operations to drive market
                    7.3.1.2 Ambulances
                               7.3.1.2.1 Medical support for battlefield emergencies to drive market
                    7.3.1.3 Ammunition replenishment vehicles
                               7.3.1.3.1 Enhanced tactical flexibility to drive market
           7.3.2 Command and Control vehicles
                    7.3.2.1 Network-centric warfare to drive market
           7.3.3 Repair and Recovery Vehicles
                    7.3.3.1 On-spot maintenance, recovery, and towing capabilities to drive market
           7.3.4 Other supply trucks
    7.4 unmanned Armored VEHICLES 
           7.4.1 improved autonomy to drive market
 
8 MILITARY VEHICLE ELECTRIFICATION MARKET, by mode of operation (Page No. - 109)
    8.1 introduction 
           FIGURE 36 military vehicle electrification market, BY MODE of operation
           TABLE 27 Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
           TABLE 28 Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
    8.2 MANNED VEHICLES 
           8.2.1 lower upfront investment to drive market
    8.3 AUTONOMOUS/SEMI-AUTONOMOUS 
           8.3.1 reduced human risk on battlefield to drive market
 
9 MILITARY VEHICLE ELECTRIFICATION MARKET, by system (Page No. - 112)
    9.1 introduction 
           FIGURE 37 military vehicle electrification market, by system
           TABLE 29 Military vehicle electrification market, by System, 2019–2022 (USD MILLION)
           TABLE 30 Military vehicle electrification market, by system, 2023–2030 (USD MILLION)
    9.2 POWER GENERATION systems 
           9.2.1 ENGINes/GENERATORs
                    9.2.1.1 Rapid recharge minimizing downtime to drive market
           9.2.2 Generator controllers
                    9.2.2.1 Transitions between electric-only, hybrid, and generator-powered modes to drive market
           9.2.3 AIR INDUCTION SYSTEMs
                    9.2.3.1 Rapid acceleration and sustained high-speed operations to drive market
           9.2.4 TRACTION MOTORS/PROPULSION MOTORS
                    9.2.4.1 Precise control over vehicle speed, acceleration, and deceleration to drive market
    9.3 cooling systems 
           9.3.1 HEAT EXCHANGERS
                    9.3.1.1 Need for thermal management to drive market
           9.3.2 FANS
                    9.3.2.1 Internal combustion engine efficiency to drive market
    9.4 ENERGY STORAGE systems 
           TABLE 31 Military vehicle electrification market, by energy storage systems, 2019–2022 (USD MILLION)
           TABLE 32 Military vehicle electrification market, BY ENERGY storage systems, 2023–2030 (USD MILLION)
           9.4.1 batteries
                    TABLE 33 Military vehicle electrification market, by batteries, 2019–2022 (USD MILLION)
                    TABLE 34 Military vehicle electrification market, by batteries, 2023–2030 (USD MILLION)
                    9.4.1.1 Lead-acid batteries
                               9.4.1.1.1 Resilience in challenging terrains and diverse operational scenarios to drive market
                    9.4.1.2 Nickel metal hydride batteries
                               9.4.1.2.1 Robust energy storage solution to drive market
                    9.4.1.3 Lithium-ion batteries /Lithium-polymer batteries
                               9.4.1.3.1 Higher energy-to-weight ratio to drive market
                    9.4.1.4 Solid-state batteries
                               9.4.1.4.1 Reduced risk of thermal runaway to drive market
                    9.4.1.5 Other batteries
           9.4.2 Fuel cells
                    9.4.2.1 Extended operational range than batteries to drive market
    9.5 Traction drive systems 
           9.5.1 Ex-Drive
                    9.5.1.1 High torque to drive market
           9.5.2 TRACTION CONTROLLERS
                    9.5.2.1 Seamless and responsive driving experience to drive market
           9.5.3 Final drive
                    9.5.3.1 Enhanced off-road capabilities to drive market
    9.6 Power conversion systems 
           9.6.1 DC-DC ConvertErs
                    9.6.1.1 Increased applications in hybrid vehicles to drive market
           9.6.2 Power InvertErS
                    9.6.2.1 Seamless integration of renewable energy sources to drive market
           9.6.3 On-board ChargerS (AlternatorS)
                    9.6.3.1 Energy conservation capabilities to drive market
    9.7 transmission systems 
           9.7.1 varied rotation ratios between drive motors and drive wheels to drive market
 
10 MILITARY VEHICLE ELECTRIFICATION MARKET, By TECHNOLOGY (Page No. - 123)
     10.1 INTRODUCTION 
             FIGURE 38 military vehicle electrification MARKET, BY technology
             TABLE 35 Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
             TABLE 36 Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     10.2 HYBRID 
   
     10.3 fully Electric 
             10.3.1 Increased stealth capabilities and reduced noise to drive market
 
11 MILITARY VEHICLE ELECTRIFICATION MARKET, By voltage (Page No. - 126)
     11.1 INTRODUCTION 
             FIGURE 39 military vehicle electrification market, by voltage
             TABLE 37 Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
             TABLE 38 Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
     11.2 Low voltage (Less than 50 V) 
             11.2.1 compactness and agility to drive market
     11.3 Medium voltage (50–600 V) 
             11.3.1 improved safety and agility to drive market
     11.4 High voltage (More than 600 V) 
             11.4.1 increased power output and faster charging to DRIVE market
 
12 military vehicle electrification market, by region (Page No. - 129)
     12.1 introduction 
             FIGURE 40 north america to witness highest cagr during forecast period
             TABLE 39 Military vehicle electrification market, by region, 2019–2022 (USD million)
             TABLE 40 Military vehicle electrification market, by region, 2023–2030 (USD MILLION)
     12.2 regional recession impact analysis 
             TABLE 41 regional recession impact analysis
     12.3 North America 
             12.3.1 north america: pestle analysis
             12.3.2 north america: recession impact analysis
                        FIGURE 41 NORTH AMERICA: military vehicle electrification MARKET SNAPSHOT
                        TABLE 42 north america: Military vehicle electrification market, by country, 2019–2022 (USD MILLION)
                        TABLE 43 north america: Military vehicle electrification market, by country, 2023–2030 (USD MILLION)
                        TABLE 44 north america: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 45 north america: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 46 north america: Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
                        TABLE 47 north america: Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
                        TABLE 48 north america: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 49 north america: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        TABLE 50 north america: Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
                        TABLE 51 north america: Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
             12.3.3 US
                        12.3.3.1 Climate strategy to drive market
                                     TABLE 52 US: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 53 US: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 54 US: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 55 US: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.3.4 canada
                        12.3.4.1 Military modernization programs to drive market
                                     TABLE 56 Canada: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 57 Canada: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 58 Canada: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 59 Canada: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     12.4 europe 
             12.4.1 europe: Pestle analysis
             12.4.2 europe: recession impact analysis
                        FIGURE 42 Europe: MILITARY VEHICLE ELECTRIFICATION market snapshot
                        TABLE 60 Europe: Military vehicle electrification market, by country, 2019–2022 (USD MILLION)
                        TABLE 61 Europe: Military vehicle electrification market, by country, 2023–2030 (USD MILLION)
                        TABLE 62 Europe: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 63 Europe: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 64 Europe: Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
                        TABLE 65 Europe: Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
                        TABLE 66 Europe: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 67 Europe: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        TABLE 68 Europe: Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
                        TABLE 69 Europe: Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
             12.4.3 UK
                        12.4.3.1 Project Mercury to drive market
                                     TABLE 70 UK: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 71 UK: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 72 UK: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 73 UK: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.4 france
                        12.4.4.1 Procurement of new-generation combat vehicles to drive market
                                     TABLE 74 FRANCE: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 75 FRANCE: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 76 FRANCE: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 77 FRANCE: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.5 germany
                        12.4.5.1 Presence of major military vehicle manufacturers to drive market
                                     TABLE 78 GERMANY: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 79 GERMANY: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 80 GERMANY: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 81 GERMANY: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.6 russia
                        12.4.6.1 Rising investments in armored vehicles and electric vehicles to drive market
                                     TABLE 82 RUSSIA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 83 RUSSIA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 84 RUSSIA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 85 RUSSIA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.7 italy
                        12.4.7.1 Defense Energy Strategy to drive market
                                     TABLE 86 ITALY: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 87 ITALY: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 88 ITALY: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 89 ITALY: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.8 norway
                        12.4.8.1 Favorable electrification policies to drive market
                                     TABLE 90 NORWAY: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 91 NORWAY: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 92 NORWAY: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 93 NORWAY: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.4.9 Rest of Europe
                        TABLE 94 REST OF EUROPE: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 95 REST OF EUROPE: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 96 REST OF EUROPE: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 97 REST OF EUROPE: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     12.5 asia pacific 
             12.5.1 asia pacific: PESTLE ANALYSIS
             12.5.2 Asia Pacific: recession impact analysis
                        FIGURE 43 Asia pacific: MILITARY VEHICLE ELECTRIFICATION market snapshot
                        TABLE 98 Asia Pacific: Military vehicle electrification market, by country, 2019–2022 (USD MILLION)
                        TABLE 99 Asia Pacific: Military vehicle electrification market, by country, 2023–2030 (USD MILLION)
                        TABLE 100 Asia Pacific: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 101 Asia Pacific: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 102 Asia Pacific: Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
                        TABLE 103 Asia Pacific: Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
                        TABLE 104 Asia Pacific: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 105 Asia Pacific: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        TABLE 106 Asia Pacific: Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
                        TABLE 107 Asia Pacific: Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
             12.5.3 CHINA
                        12.5.3.1 Growing demand for sustainable power sources to drive market
                                     TABLE 108 CHINA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 109 CHINA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 110 CHINA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 111 CHINA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.5.4 India
                        12.5.4.1 Indigenous manufacturing of electric military vehicles to drive market
                                     TABLE 112 INDIA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 113 INDIA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 114 INDIA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 115 INDIA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.5.5 JAPAN
                        12.5.5.1 Technology Cooperation Act to drive market
                                     TABLE 116 JAPAN: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 117 JAPAN: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 118 JAPAN: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 119 JAPAN: Military vehicle ELECTRIFICATION market, by technology, 2023–2030 (USD MILLION)
             12.5.6 Australia
                        12.5.6.1 Australian army research centre initiatives to drive market
                                     TABLE 120 AUSTRALIA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 121 AUSTRALIA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 122 AUSTRALIA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 123 AUSTRALIA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.5.7 south korea
                        12.5.7.1 Investments in advanced battery technology to drive market
                                     TABLE 124 SOUTH KOREA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 125 SOUTH KOREA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 126 SOUTH KOREA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 127 SOUTH KOREA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     12.6 middle east 
             12.6.1 middle east: Pestle Analysis
             12.6.2 Middle East: recession impact analysis
                        FIGURE 44 middle east: MILITARY VEHICLE ELECTRIFICATION market snapshot
                        TABLE 128 Middle East: Military vehicle electrification market, by Region, 2019–2022 (USD MILLION)
                        TABLE 129 Middle East: Military vehicle electrification market, by region, 2023–2030 (USD MILLION)
                        TABLE 130 Middle East: Military vehicle electrification market, by GCC, 2019–2022 (USD MILLION)
                        TABLE 131 Middle East: Military vehicle electrification market, by GCC, 2023–2030 (USD MILLION)
                        TABLE 132 Middle East: Military vehicle electrification market, by rest of middle east, 2019–2022 (USD MILLION)
                        TABLE 133 Middle East: Military vehicle electrification market, by rest of middle east, 2023–2030 (USD MILLION)
                        TABLE 134 Middle East: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 135 Middle East: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 136 Middle East: Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
                        TABLE 137 Middle East: Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
                        TABLE 138 Middle East: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 139 Middle East: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        TABLE 140 Middle East: Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
                        TABLE 141 Middle East: Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
             12.6.3 Gulf Coast countries
                        12.6.3.1 Saudi Arabia
                                     12.6.3.1.1 Vision 2030 initiative to drive market
                                                    TABLE 142 SAUDI ARABIA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                                    TABLE 143 SAUDI ARABIA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                                    TABLE 144 SAUDI ARABIA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                                    TABLE 145 SAUDI ARABIA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.6.4 Rest of Middle East
                        12.6.4.1 Israel
                                     12.6.4.1.1 Carmel Program to drive market
                                                    TABLE 146 ISRAEL: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                                    TABLE 147 ISRAEL: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                                    TABLE 148 ISRAEL: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                                    TABLE 149 ISRAEL: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        12.6.4.2 Turkey
                                     12.6.4.2.1 Presence of leading defense companies to drive market
                                                    TABLE 150 TURKEY: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                                    TABLE 151 TURKEY: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                                    TABLE 152 TURKEY: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                                    TABLE 153 TURKEY: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     12.7 Rest of the world 
             12.7.1 Rest of the world: PESTLE Analysis
             12.7.2 rest of the world: recession impact analysis
                        FIGURE 45 Rest of the WORLD: MILITARY VEHICLE ELECTRIFICATION market snapshot
                        TABLE 154 Rest of the world: Military vehicle electrification market, by Region, 2019–2022 (USD MILLION)
                        TABLE 155 Rest of the world: Military vehicle electrification market, by Region, 2023–2030 (USD MILLION)
                        TABLE 156 Rest of the world: Military vehicle electrification market, by Latin american countries, 2019–2022 (USD MILLION)
                        TABLE 157 Rest of the world: Military vehicle electrification market, by Latin american countries, 2023–2030 (USD MILLION)
                        TABLE 158 Rest of the world: Military vehicle electrification market, by african countries, 2019–2022 (USD MILLION)
                        TABLE 159 Rest of the world: Military vehicle electrification market, by african countries, 2023–2030 (USD MILLION)
                        TABLE 160 Rest of the world: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                        TABLE 161 Rest of the world: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                        TABLE 162 Rest of the world: Military vehicle electrification market, by voltage, 2019–2022 (USD MILLION)
                        TABLE 163 Rest of the world: Military vehicle electrification market, by voltage, 2023–2030 (USD MILLION)
                        TABLE 164 Rest of the world: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                        TABLE 165 Rest of the world: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
                        TABLE 166 Rest of the world: Military vehicle electrification market, by mode of operation, 2019–2022 (USD MILLION)
                        TABLE 167 Rest of the world: Military vehicle electrification market, by mode of operation, 2023–2030 (USD MILLION)
     12.8 Latin America 
             12.8.1 brazil
                        12.8.1.1 Growth acceleration program to drive market
                                     TABLE 168 BRAZIL: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 169 BRAZIL: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 170 BRAZIL: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 171 BRAZIL: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
             12.8.2 mexico
                        12.8.2.1 Increased military budget to drive market
                                     TABLE 172 MEXICO: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 173 MEXICO: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 174 MEXICO: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 175 MEXICO: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
     12.9 Africa 
             12.9.1 south africa
                        12.9.1.1 Internal conflicts and civil unrest to drive market
                                     TABLE 176 SOUTH AFRICA: Military vehicle electrification market, by platform, 2019–2022 (USD MILLION)
                                     TABLE 177 SOUTH AFRICA: Military vehicle electrification market, by platform, 2023–2030 (USD MILLION)
                                     TABLE 178 SOUTH AFRICA: Military vehicle electrification market, by technology, 2019–2022 (USD MILLION)
                                     TABLE 179 SOUTH AFRICA: Military vehicle electrification market, by technology, 2023–2030 (USD MILLION)
 
13 COMPETITIVE LANDSCAPE (Page No. - 188)
     13.1 Introduction 
     13.2 KEY PLAYER strategies 
               TABLE 180 key player strategies
     13.3 market share ANALYSIS 
               FIGURE 46 Market Share analysis of Key players, 2022
               TABLE 181 DEGREE OF COMPETITION
     13.4 market RANKing analysis 
               FIGURE 47 market RANKing analysis of top five players, 2022
     13.5 REVENUE analysis 
               FIGURE 48 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2022 (USD MILLION)
     13.6 company Evaluation matrix 
             13.6.1 StarS
             13.6.2 Emerging LEADERS
             13.6.3 PERVASIVE players
             13.6.4 ParticipantS
                        FIGURE 49 company Evaluation matrix, 2022
             13.6.5 company footprint
                        TABLE 182 company footprint
                        TABLE 183 company FOOTPRINT, by platform
                        TABLE 184 company footprint, by Technology
                        TABLE 185 company footprint, by region
     13.7 STARtUP/SME EVALUATION matrix 
             13.7.1 Progressive companies
             13.7.2 Responsive companies
             13.7.3 Dynamic companies
             13.7.4 Starting blocks
                        FIGURE 50 Startup/sme evaluation matrix, 2022
             13.7.5 COMPETITIVE BENCHMARKING
                        TABLE 186 KEY STARTUPS/SMES
                        TABLE 187 COMPETITIVE BENCHMARKING OF key startups/smes
     13.8 competitive scenarios and trends 
             13.8.1 Product launches
                        TABLE 188 military vehicle electrification market: PRODUCT LAUNCHES, march 2020–october 2023
             13.8.2 Deals
                        TABLE 189 military vehicle electrification market: DEALS, january 2019–august 2022
             13.8.3 Other Developments
                        TABLE 190 military vehicle electrification market: Other developments, february 2019–december 2023
 
14 Company Profiles (Page No. - 212)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *  
     14.1 Introduction 
     14.2 Key Players 
             14.2.1 Oshkosh Corporation
                        TABLE 191 Oshkosh Corporation: company overview
                        FIGURE 51 Oshkosh Corporation: COMPANY SNAPSHOT
                        TABLE 192 Oshkosh Corporation: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 193 Oshkosh Corporation: product launches
                        TABLE 194 Oshkosh Corporation: deals
                        TABLE 195 Oshkosh Corporation: OTHER DEVELOPMENTS
             14.2.2 GM Defense LLC
                        TABLE 196 GM Defense LLC: company overview
                        TABLE 197 GM defense LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERed
                        TABLE 198 GM Defense LLC: deals
                        TABLE 199 GM Defense LLC: OTHER DEVELOPMENTS
             14.2.3 General Dynamics Corporation
                        TABLE 200 General Dynamics Corporation: company overview
                        FIGURE 52 General Dynamics corporation: COMPANY SNAPSHOT
                        TABLE 201 General Dynamics corporation: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 202 General Dynamics corporation: other developments
             14.2.4 BAE Systems plc
                        TABLE 203 BAE Systems plc: company overview
                        FIGURE 53 BAE Systems PLC: COMPANY SNAPSHOT
                        TABLE 204 BAE Systems plc: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 205 BAE Systems plc: other developments
             14.2.5 Leonardo SPA
                        TABLE 206 Leonardo Spa: company overview
                        FIGURE 54 Leonardo Spa: COMPANY SNAPSHOT
                        TABLE 207 Leonardo SpA: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 208 Leonardo spA: product launches
                        TABLE 209 Leonardo SPA: Other developments
             14.2.6 Textron Inc.
                        TABLE 210 Textron Inc.: company overview
                        FIGURE 55 Textron Inc.: COMPANY SNAPSHOT
                        TABLE 211 Textron Inc.: PRODUCT/SOLUTIONS/SERVICES OFFERed
                        TABLE 212 Textron Inc.: deals
                        TABLE 213 Textron Inc.: Other dEvelopments
             14.2.7 ST Engineering
                        TABLE 214 ST Engineering: company overview
                        FIGURE 56 ST Engineering: COMPANY SNAPSHOT
                        TABLE 215 ST Engineering: PRODUCT/Solutions/SERVICES OFFERed
                        TABLE 216 ST Engineering: product launches
             14.2.8 QinetiQ
                        TABLE 217 QinetiQ: company overview
                        FIGURE 57 QinetiQ: COMPANY SNAPSHOT
                        TABLE 218 QinetiQ: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 219 QinetiQ: deals
             14.2.9 Polaris Inc.
                        TABLE 220 Polaris Inc.: company overview
                        FIGURE 58 Polaris Inc.: COMPANY SNAPSHOT
                        TABLE 221 Polaris Inc.: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 222 Polaris Inc.: PRODUCT launches
                        TABLE 223 Polaris Inc: deals
             14.2.10 Aselsan AS
                        TABLE 224 Aselsan AS: company overview
                        TABLE 225 Aselsan AS: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 226 Aselsan AS: deals
                        TABLE 227 Aselsan AS: Other Developments
             14.2.11 Otokar Otomotiv ve Savunma Sanayi AS
                        TABLE 228 Otokar Otomotiv ve Savunma Sanayi AS: company overview
                        TABLE 229 Otokar Otomotiv ve Savunma Sanayi AS: PRODUCTs/SOLUTIONS/SERVICES OFFERed
             14.2.12 Rheinmetall AG
                        TABLE 230 Rheinmetall AG: company overview
                        FIGURE 59 Rheinmetall AG: COMPANY SNAPSHOT
                        TABLE 231 Rheinmetall AG: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 232 Rheinmetall AG: PRODUCT launches
                        TABLE 233 Rheinmetall AG: other developments
             14.2.13 Thales group
                        TABLE 234 Thales group: company overview
                        FIGURE 60 Thales Group: COMPANY SNAPSHOT
                        TABLE 235 Thales Group: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 236 Thales Group: PRODUCT launches
             14.2.14 Krauss-Maffei Wegmann
                        TABLE 237 Krauss-Maffei Wegmann: company overview
                        TABLE 238 Krauss-Maffei Wegmann: PRODUCTs/SOLUTIONS/SERVICES OFFERed
                        TABLE 239 Krauss-Maffei Wegmann: deals
             14.2.15 Flensberg Fahrzeugbau GmbH
                        TABLE 240 Flensberg Fahrzeugbau GmbH: company overview
                        TABLE 241 Flensberg Fahrzeugbau GmbH: PRODUCTs/SOLUTIONS/SERVICES OFFERed
     14.3 Other players 
             14.3.1 ARQUUS Defence
                        TABLE 242 ARQUUS Defence: company overview
             14.3.2 Epsilor Electric Fuel Ltd.
                        TABLE 243 Epsilor Electric Fuel Ltd.: company overview
             14.3.3 Nexter Group
                        TABLE 244 Nexter Group: company overview
             14.3.4 Ukroboronprom
                        TABLE 245 Ukroboronprom: company overview
             14.3.5 Milrem Robotics
                        TABLE 246 Milrem Robotics: company overview
             14.3.6 AM General
                        TABLE 247 AM General: company overview
             14.3.7 Highland Systems
                        TABLE 248 Highland Systems: company overview
             14.3.8 Alke
                        TABLE 249 Alke: company overview
             14.3.9 Mega Engineering Vehicles inc.
                        TABLE 250 Mega Engineering Vehicles inc.: company overview
             14.3.10 fnss
                        TABLE 251 fnss: company overview
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.  
 
15 Appendix (Page No. - 264)
     15.1 discussion guide 
     15.2 KnowledgeStore: MarketsandMarkets’ subscription portal 
     15.3 Customization options 
     15.4 Related reports 
     15.5 AUTHOR DETAILS 
 

 

This research study involved the extensive use of secondary sources, directories, and databases, such as the Stockholm International Peace Research Institute (SIPRI), Department of Defense (DoD), UN Comtrade, Organization for Economic Cooperation and Development (OECD), and Factiva, to identify and collect relevant information on the military vehicle electrification market. Primary sources included industry experts from the concerned market, preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of the value chain. All primary sources were interviewed to obtain and verify critical qualitative and quantitative information as well as assess the prospects of the market.

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among others, to obtain and verify critical qualitative and quantitative information and to assess future prospects of the market.

Secondary Research

The market share of companies in the military vehicle electrification market was determined using secondary data made available through paid and unpaid sources and by analyzing product portfolios of major companies operating in the market. These companies were rated based on the performance and quality of their products. These data points were further validated by primary sources.

Secondary sources that were referred to for this research study on the military vehicle electrification market included government sources such as the US Department of Defense (DoD), defense budgets, military modernization program documents, corporate filings such as annual reports, investor presentations, and financial statements, and trade, business, and professional associations. This secondary data was collected and analyzed to arrive at the overall size of the military vehicle electrification, which was further validated by primary respondents.

Secondary research was primarily used to obtain critical information about the value and supply chain of the market. It was also used to identify key players by various products, market classifications, and segmentation per their offerings. Secondary information helps understand industry trends related to Military vehicle electrification technology, mode of operation, voltage type, platform, system and regions, and developments from the market and technology-oriented perspectives.

Primary Research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. Primary sources from the supply side included industry experts such as vice presidents, directors from business development, marketing, and product development/innovation teams, related key executives from the EV industry, manufacturers, integrators, and key opinion leaders. Extensive primary research was conducted after obtaining information about the current scenario of the Military vehicle electrification market through secondary research. Several primary interviews were conducted with the market experts from the demand and supply sides across major countries of North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

This primary data was collected through questionnaires, emails, and telephonic interviews.

Military Vehicle Electrification Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the size of the market. The research methodology used to estimate the market size also includes the following details:

  • Key players were identified through secondary research, and their market ranking was determined through primary and secondary research. This included a study of annual and financial reports of the top market players and extensive interviews of leaders, including CEOs, directors, and marketing executives.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.

Bottom-Up Approach
The bottom-up approach was employed to arrive at the overall size of the military vehicle electrification market.

Bottom Up Market Size Estimation Methodology

Step 1

Mapped deliveries of military electric vehicles

Mapped deliveries of all types of electric military vehicles considered under military vehicle electrification segments from 2023 to 2030

Step 2

Classified the components required for each vehicle type

Each vehicle technology considered in the scope (fully electric and hybrid) requires different types of electric components, in which the penetration of each technology is different.

Step 3

Identified the total cost of manufacturing electric military vehicle

Identified and mapped the total cost of manufacturing vehicles for each electric military vehicle considered in the study.

Step 4

Listing contracts for military electric vehicles

Listing all the contracts for military electric vehicles to validate the market size.

Step 5

Arriving at the global market size (2023)

Global market 2023 = (electric military vehicle delivery for 2023 * Cost of electric military vehicle derived from contract ).

Step 6

Arriving at the global market size (2023-2030)

The global market was estimated based on data on existing and upcoming projects announced by OEMs, average digital readiness Index, percentage of commercial electric vehicles, and average defense growth rate.

Market Size Estimation Methodology: Bottom-Up Approach

Military Vehicle Electrification Market
 Size, and Bottom-Up Approach

Top-Down Approach

In the top-down approach, military electric vehicle manufacturers were identified. The revenue of players as per their revenue specific to the market was identified. The base market number for each player was arrived at by assigning a weight to the contracts for military electric vehicles by these companies for the stages of electrification.

Market Size Estimation Methodology: Top-Down Approach

Military Vehicle Electrification Market
 Size, and Top-Down Approach

Data Triangulation

  • Country-wise military electric vehicle deliveries were considered for base data. Data was taken from the OEM manufacturers of military electric vehicles and various governing bodies of each country.
  • Military vehicle technology type and penetration are considered to calculate the upcoming trends of the market.

The following figure indicates the market breakdown structure and the data triangulation procedure implemented in the market engineering process to develop this report.

Military Vehicle Electrification Market
 Size, and Data Triangulation

The figure above demonstrates the core data triangulation procedure used in this report for every market, submarket, and subsegment. The percentage split for various market segments, including system, platform, technology, mode of operation, voltage type and region, was used to determine the size of the military vehicle electrification market.

Market Definition

  • Military vehicle electrification is the method of adapting new technologies for the use of electrical power for the operation of automotive drivetrains, auxiliary systems, turret motors/drives, and other mechanical subsystems in military vehicles. It involves the use of hybrid engines, battery technologies, fuel cells, and other primary power sources for military tactical and combat vehicles. It helps in increased efficiency, power, and performance in critical missions and operations. Military vehicle electrification can be categorized based on technologies such as hybrid drive and fully electric. It has applications in surveillance & stealth modes, combat vehicles, utility trucks, logistics & transportation, and armored vehicles, among others

Key Stakeholders

  • Military Vehicle Electrification Solution Providers
  • Military Vehicle Electrification Platform Providers
  • Military Vehicle Electrification System Providers
  • Technology Providers
  • Armed Forces
  • Military Vehicle Electrification Product Manufacturers
  • Component Manufacturers
  • Distributors and Suppliers
  • Investors and Venture Capitalists
  • Component Manufacturers
  • Distributors and Suppliers
  • Universities, Research Organizations, Forums, Alliances, and Associations
  • Ministries of Defense
  • Original Equipment Manufacturers (OEMs)
  • Regulatory Bodies
  • R&D Companies

Report Objectives

  • To define, describe, and forecast the size of the military vehicle electrification market based on platform, system, technology, mode of operation, voltage type, and region from 2023 to 2030
  • To forecast the size of various segments of the market with respect to major regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the Military vehicle electrification market across the globe
  • To strategically analyze micromarkets 1 with respect to individual growth trends, prospects, and their contribution to the military vehicle electrification market
  • To analyze opportunities for stakeholders in the market by identifying key market trends
  • To analyze competitive developments such as contracts, acquisitions and expansions, agreements, partnerships, new product launches, and Research & Development (R&D) activities in the military vehicle electrification market
  • To provide a detailed competitive landscape of the -market, in addition to an analysis of business and corporate strategies adopted by leading market players
  • To strategically profile key market players and comprehensively analyze their core competencies

1. Micromarkets refer to segments and subsegments of the Military Vehicle Electrification market included in the report.

2. Core competencies of the companies were captured in terms of their key developments and strategies to sustain their position in the market

Available customizations

Along with the market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the market segments at the country level

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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