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3. Military Vehicle Electrification Companies - Oshkosh Corporation (US) and GM Defense LLC (US) are the Key Players

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 primary driving factors for the military vehicle electrification market include Increasing modern battlefield requirements, Rising demand for electric power sources, Increasing development of autonomous and unmanned military vehicles.

Major Military Vehicle Electrification Companies Include:

• Oshkosh Corporation (US)
• GM Defense LLC (US)
• General Dynamics Corporation (US)
• BAE Systems (UK)
• Leonardo S.p.A. (Italy)

These companies have leveraged various growth strategies including new product developments, contracts, collaborations, expansions, certifications, agreements, acquisitions, and R&D activities. In the military vehicle electrification market these companies leveraged product developments, R&D and contract strategies to gain a major foothold in the market.

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

Oshkosh Corporation (US)

Oshkosh Corporation operates through four segments: access equipment, defense, fire & emergency, and commercial. The company has manufacturing operations in the US, Australia, Canada, China, France, Mexico, Romania, and the UK. It offers its services to over 150 countries worldwide. Oshkosh Corporation is a global leader in the design, production, and sustainment of best-in-class military vehicles and mobility systems. Oshkosh Corporation has designed, tested, and manufactured a robust portfolio of heavy, medium, light, and armored military vehicles. These vehicles are used by troops for a broad range of missions.

Some of the key subsidiaries of the company are JLG Industries, JerrDan Corporation, Oshkosh Defense, Pierce Manufacturing Inc., Oshkosh Airport Products, Kewaunee Fabrications, McNeilus Companies, Concrete Equipment Company, London Machinery Inc., Iowa Mold Tooling Co., and Oshkosh Commercial Products. Oshkosh offers advanced technologies and vehicle components that provide a technical edge over others. These include TAK-4 independent suspension systems, TerraMax unmanned ground vehicle solutions, Command Zone integrated control and diagnostics system, ProPulse diesel-electric and onboard vehicle power solutions, and the CORE1080 crew protection system. Oshkosh also provides command, control, communication, and computer (C4) system integration for its vehicles to bring the network to the mission.

GM Defense LLC (US)

The company is involved in designing, manufacturing, and supplying a range of defense and security solutions, including tactical and special-purpose vehicle. GM Defense LLC's portfolio includes various military vehicles and platforms tailored to meet the diverse requirements of defense forces. These encompass off-road mobility solutions, modular platforms for different mission configurations, and advanced technology integration for enhanced performance.

GM Defense LLC is a global leader committed to the electrification market. The company has developed the li-ion battery technology for Chevrolet Bolt Electric Vehicles. It brings the same battery technology to the aerospace, defense, and security markets across all domains. It is also developing hydrogen fuel cells, which convert hydrogen into electricity. These systems make them ideal for applications wherein power demands conventional generator technologies.

General Dynamics Corporation (US)

General Dynamics  Corporation is a leading defense contractor operating through five business segments: information & technology, aerospace, marine systems, mission systems, and combat systems. Through its information systems & technology segment, the company provides technologies, products, and services that support thousands of programs for a wide range of military, federal, civilian, state, and local customers. The company delivers complex, large-scale IT networks and professional services through its IT business. The marine systems business integrates C4ISR systems with secure communications, command & control systems, sensors, and cyber products.

General Dynamics Corporation designs, develops, manufactures, and sells a wide range of tracked and wheeled military vehicles. The company's product portfolio encompasses main battle tanks, Stryker combat vehicles, light armored vehicles, MRAPs, specialty vehicles, weapon systems, and robotics systems. GD Land Systems also supply support, provides project management, field support, and training support services. The company mainly serves the US Army, military, and other governments.

BAE Systems (UK)

BAE Systems is a defense, aerospace, and security company that delivers products and services for air, land, and naval forces. The company also offers advanced electronics, security systems, information technology solutions, and support services.

BAE Systems provides intelligence and security services to organizations to effectively manage big data. The company operates through five business segments: air, electronic systems, cyber & intelligence, platforms & services, and maritime. The company's expertise in Military Vehicle Electrification extends to the design and production of electric drive systems, energy storage solutions, and advanced vehicle electronics. BAE Systems has invested significantly in the research and development of electric propulsion systems for military vehicles.

BAE Systems has expanded to Australia, India, Saudi Arabia, the UK, and the US. Its key subsidiaries are BAE Systems Integrated System Technologies (UK), BAE Systems Maritime – Submarines (UK), and BAE Systems Military Air & Information (UK). As of December 2022, it has 93,100 employees globally.

Leonardo S.p.A. (Italy)

Leonardo S.p.A., an Italian multinational company, is a key player in the aerospace, defense, and security industries. Leonardo operates across multiple business segments, including helicopters, aircraft, electronics, and cyber security. In the realm of Military Vehicle Electrification, Leonardo has been at the forefront of developing cutting-edge solutions to enhance the efficiency and sustainability of military vehicles.

Leonardo's military vehicle electrification efforts involve the integration of electric powertrains, energy storage systems, and advanced electronics into military ground vehicles. By incorporating electric propulsion, the company aims to enhance mobility, agility, and stealth while reducing the reliance on traditional fuel sources. These advancements contribute to a more sustainable and resilient defense infrastructure. 

Related Reports:

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

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