Market Highlights

The global military power solutions market, which was valued at US$ 7.3 billion in 2021, is projected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2028, reaching US$ ~12.1 billion.

Military Power Solutions Market CAGR

2022-2028

CAGR OF

8.9%

Military Power Solutions Market

Military power solutions are used to power remote outposts, industrial, electrical equipment, and unmanned aerial aircraft (UAVs). Batteries, generators, and solar power cells are the most widely used military power sources worldwide. While adhering to the rules set forth by the defense authorities, producers of military power solutions are constantly focused on creating new power solutions. The growing requirement for portable and reliable power solutions, together with higher defense electronic spending, are two reasons that will help the military power solutions industry. Furthermore, due to the growing defense budget and equipment, the defense industries are showing an increased interest in putting power solutions to support military personnel into practice.

The unprecedented global public health crisis known as COVID-19 has affected almost every industry, and its long-term ramifications are projected to impede industrial growth over the course of the projection period. In order to guarantee that fundamental COVID-19 concerns and possible future paths are addressed, ongoing study is refining research technique. providing COVID-19 insights that consider changes in purchasing patterns, supply chain rerouting, dynamics of the present market conditions, and notable government initiatives Regarding the market reaction to COVID-19, this report provides observations, analysis, forecasts, and projections.

The military power solutions market for military power solutions is expanding due to three key factors: rising defense electronics spending, rising demand for portable power solutions, and rising need for durable, maintenance-free power sources. The market has been limited by the high cost of thermoelectric materials and wealthy countries' decreasing defense spending. The defense industry's preference for small power sources and the need for dependable hybrid power solutions are the primary factors propelling the growth of the military power solutions market.

Military Power Solutions Market

By Wattage

Low

Medium

High Power

The Market will Grow

At the CAGR of:

8.9%

The Forecast Market

Size for 2028 in USD:

$12.1B

Globally, energy has a big impact on the environment. The dramatic increase in energy use in offices across the globe has coincided with a decline in the use of office supplies. The environment is now affected more locally, that is, in the vicinity of people's homes and places of employment, by less than portable electricity infrastructure as a result of this increase in demand. Further reducing the need for traditional office supplies is the expectation that the exponential rise in electricity consumption will accompany the explosive growth in demand for smartphones, laptops, and other electronic devices.

The advent of modern warfare has led to the military utilizing more state-of-the-art gear. This has also raised interest in alternatives for military force. Furthermore, as communication, situational awareness, and weapon systems advance in sophistication, more power-hungry technologies and extraordinarily power-dense systems are required to power these more recent generations. Businesses and the armed forces are collaborating to integrate new electric and alternative fuel technologies with low-emission military source equipment. It is expected that such expenditures would expedite market expansion in the future years.

Recent years have seen a number of directives and investments in the sector that should expand the military power solutions market as a whole. Among them are: • Hybrid reliable power solutions are a developing source of power supply that is ideal in off-grid or underdeveloped places, remote grids, and islands where grid power delivery is not a cheap or feasible alternative. Diesel generators and renewable energy sources, such as the sun and wind, are combined in hybrid power systems to provide a reliable and efficient power source. These hybrid stable power systems are employed by a multitude of industries, including mining, oil & gas, telecommunications, residential, and commercial. Places without access to electricity and without a grid connection are referred to as off-grid. Off-grid sites include telecom towers, commercial structures, and small settlements located in distant areas without grid connectivity.

Market Segment Analysis

Military Power Solutions Market

By Type

XX%

Portable

Non-Portable

7.3

Total Market Size

USD (Billion), 2022

8.9%

CAGR

2022 - 2028

The military power solutions market has been segmented based on source, type, application, wattage, and geography. Based on sources, several market sectors for military power solutions have been developed, including fuel cells, batteries, generators, and solar power. Fuel cells are expected to increase at the fastest rate in the industry because to their huge capacity for storage. Based on type, the military power solutions market has been split into portable and non-portable segments. It is expected that the portable industry will increase quickly due to the increasing need for compact and low-power solutions.

The military power solutions market has been segmented into low, medium, and high power segments based on wattage. The medium category is expected to be the biggest in the military power solutions market. An increase in the need for power sources for tanks, armored vehicles, unmanned ground vehicles, and soldiers is expected to drive up demand for military power solutions in the medium power category. Medium power sources are typically used by ground vehicles that require approximately 250 Watts of electricity.

Geographically speaking, the military power solutions market is divided into regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to be the largest region in the military power solutions market in 2020. The United States and Canada are among the nations in the region where deliveries of military force solutions have surged recently. The markets in Europe and Asia-Pacific are also expected to see significant expansion due to the increase in demand for dependable, efficient, and long-lasting military power solutions in these regions.

Military Power Solutions Market

By Region

The Market will Grow

At the CAGR of:

8.9%

The Forecast Market

Size for 2028 in USD:

$12.1B

Key Players

The military power solutions market is highly competitive. The state of the sector and government assistance have a direct impact on the companies' growth. Based on their effectiveness and level of penetration in both target and emerging markets, these companies distinguish their military power solutions. Additionally, a few recent large mergers and acquisitions in the sector have had a big impact on the competitive dynamics.
As an illustration:
• Marshall Aerospace and Defense Group (MADG) and INTRACOM DEFENSE (IDE) signed a contract in February 2021 that states that they will collaborate to develop and support innovative hybrid power solutions for markets of mutual interest in global security and defense. • In October 2021, the US Army's Rapid Capabilities and Critical Technologies Office (RCCTO) awarded a contract to Amprius Technologies, Inc. for the design, development, and testing of new high-energy-density lithium-ion batteries for the US Army's use in unmanned aerial system (UAS) applications. The quick prototyping of the new batteries is expected to be completed in 18 months.
• The US Army, University of Maryland, and Johns Hopkins Applied Physics Laboratory developed a new aqueous lithium-ion battery in November 2019; in April 2022, a Sunshine Coast company was given a USD 47.4 million contract to supply mobile diesel generators to the Australian Defense Force. Under the terms of the contract, the business will supply 1,350 diesel generators for use in military, combat, recovery, and emergency situations. The first generator is expected to be delivered in 2023, and the contract was awarded under the terms of the Land8140 Tranche 1 purchasing program.

These mergers and acquisitions have had an impact on the competitive landscape as a whole. The military power solutions market leaders are as follows: 
Concorde Battery Corporation, Eniquest, Himoinsa, Denchi Power Ltd, Cummins Inc., SAFT Groupe SA, EaglePicher Technologies, Raytheon Technologies Corporation, Enersys, and SFC Energy AG 

Military Power Solutions Market Scope: