Military Power Solutions Market Growth Analysis | 2022-2028

Market Insights

The Military Power Solutions Market was estimated at US$ 7.1 billion in 2021 and is expected to grow at a CAGR of 8.7% during 2022-2028 to reach US$ ~11.9 billion in 2028.

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What are military power solutions?

Military power solutions refer to the specialized technologies, strategies, and equipment used by armed forces to maintain operational readiness and enhance their capabilities. These solutions encompass a wide range of components, including weaponry, communication systems, logistics, surveillance, and energy sources.

Market Dynamics

The remote outposts, electrical equipment, machinery, and military drones or unmanned aerial vehicles are all powered by military power solutions. The most prevalent military power sources used globally are batteries, generators, and solar power cells. Manufacturers of military power solutions are continually concentrating on developing new power solutions while keeping in mind the guidelines established by the defence authorities. The market for military power solutions is well-positioned to benefit from a number of factors, including increased defence electronic spending and the growing need for portable and robust power solutions. Additionally, the defence industries are becoming more interested in implementing power solutions to aid military personnel as a result of the expanding defence budget and machinery.

Almost every industry has been hit by the unprecedented worldwide public health disaster known as COVID-19, and its long-term effects are likely to restrain industrial growth throughout the course of the projection period. Continuous research is improving research methodology to ensure that underlying COVID-19 issues and potential future directions are addressed. giving COVID-19 insights that take into account shifts in consumer demand and behavior, buying trends, supply chain rerouting, dynamics of current market pressures, and significant government activities This paper offers observations, analysis, predictions, and projections regarding the market's response to COVID-19.

The primary drivers driving the growth of the military power solution market are an increase in defence electronics spending, an increase in demand for portable power solutions, and an increase in demand for long-lasting, maintenance-free power sources. The market for military power solutions has been constrained by the declining defence expenditures of rich nations and the high cost of thermoelectric materials. The main drivers for the growth of the military power solution market are the demand for dependable hybrid power solutions and the defence industry's preference for miniature power sources.

Energy has a significant impact on the environment worldwide. The sharp rise in the usage of energy in workplaces throughout the world has paralleled the drop in the use of office supplies. Due to this increase in demand, the environment is now impacted more locally, that is, close to people's homes and workplaces, by less than portable power infrastructure. Additionally, it is anticipated that the high need for electricity will rise exponentially along with the skyrocketing demand for personal computers, mobile phones, and other electronic devices, further lowering the demand for conventional office supplies.

Modern warfare's development has prompted the military to use more cutting-edge equipment. Additionally, this has increased interest in military power options. Furthermore, to fuel these more recent generations, power-hungry technologies, and extremely power-dense systems are needed as communication, situational awareness, and weapon systems become more sophisticated. The businesses and the armed services are working together to incorporate low-emission military source equipment with new electric and alternative fuel technology. In the upcoming years, it is anticipated that investments like these will hasten market expansion.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• In off-grid or underdeveloped locations, remote grids, and islands where grid power delivery is not an affordable or practical alternative, hybrid dependable power solutions are an emerging source of power supply that is perfect. Hybrid power systems combine renewable energy sources (wind and sun) with diesel generators for an effective and stable power supply. Numerous sectors, including residential, commercial, telecommunications, mining, and oil and gas, utilize these hybrid stable power systems. Off-grid locations are those without a grid connection and without access to power. Telecom towers, commercial buildings, and tiny communities in remote locations without grid access are examples of off-grid sites.

Segments Analysis

By Source Type

Batteries, generators, fuel cells, and solar power are just a few of the market segments for military power solutions that have been created based on sources. As a result of their large storage capacity, fuel cells are anticipated to be the market sector with the quickest growth. The military power solutions market has been divided into portable and non-portable categories based on type. Due to the growing need for small and light power solutions, the portable market is anticipated to rise rapidly.

By Wattage Type

The military power solutions market has been divided into low, medium, and high-power segments. The market's largest category is anticipated to be the medium one. According to estimates, demand for military power solutions in the medium power segment would rise due to an increase in the need for power sources used by troops, armoured vehicles, unmanned ground vehicles, and tanks. Ground vehicles that need about 250 Watts of electricity primarily use medium power sources.

Regional Analysis

The military power solutions market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2020, North America is anticipated to be the military power solutions market's largest region. Deliveries of military power solutions have increased recently in countries in the region including the U.S. and Canada. Because of the rise in demand for dependable, effective, and long-lasting military power solutions in these areas, the markets in Europe and Asia-Pacific are also anticipated to experience substantial expansion.

Key Players

There is stiff competition in the military power solutions market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their military power solutions based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:

• According to a contract signed in February 2021 by Marshall Aerospace and Defense Group (MADG) and INTRACOM DEFENSE (IDE), they will work together to develop and support cutting-edge hybrid power solutions for the markets of mutual interest in global security and defense.
• Amprius Technologies, Inc. was given a contract by the US Army's Rapid Capabilities and Critical Technologies Office (RCCTO) in October 2021 to design, develop, and test new high-energy-density lithium-ion batteries for the unmanned aircraft system (UAS) applications that the US Army would use. Over the course of 18 months, the new batteries' fast prototyping is anticipated to be finished.
• In November 2019, a novel aqueous lithium-ion battery was created by the US Army, University of Maryland, and Johns Hopkins Applied Physics Laboratory.
• A Sunshine Coast was awarded a USD 47.4 million contract in April 2022 to provide mobile diesel generators to the Australian Defense Force. A total of 1,350 diesel generators will be provided by the corporation under the terms of the contract for use in recovery, emergency, combat, and military activities. The Land8140 Tranche 1 purchase programme was used to award the contract, and the first generator is anticipated to be delivered in 2023.

The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the military power solutions market:

• Arotech Corporation
• Enersys
• Raytheon Technologies Corporation
• SAFT Groupe SA
• EaglePicher Technologies
• SFC Energy AG
• Cummins Inc.
• Eniquest
• Himoinsa
• Denchi Power Ltd
• Concorde Battery Corporation

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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