Global Military Power Solutions Market Research Report 2021 by Product Type, End-User / Application and Regions / Countries Forecast to 2025
The military power solutions market is expected to register a CAGR of 3.42% during the forecast period. The Military Power Solutions Market research report discusses the key drivers influencing global growth, opportunities, current challenges and the risks faced by key players and the market as a whole.
Competitive Landscape and Global Market Share Analysis
The major players covered in Military Power Solutions are: Raytheon, Saft Groupe, Enersys, Arotech, Sfc Energy, Eaglepicher Technologies, Denchi Power, Advanced Conversion Technology, Concorde Battery, Energy Technologies
Military Power Solutions market is split by Type and by Application. For the period 2015-2025, the growth among segments provides accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
Segment by Type
Segment by Application
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– The evolution of modern warfare has led to increased adoption of advanced technologies by the armed forces. This has also led to an increase in the demand for military power solutions. In addition, as communication, situational awareness, and weapon systems grow in terms of sophistication, highly power-dense systems are required to power this newer generation, power-hungry systems.
– Growing military budgets are fueling the growth of the market. Several countries have increased their budget spending toward military electronics, which is expected to drive the growth of the military power solutions market during the forecast period.
– However, due to the Covid-19 pandemic, financial priorities of the governments of several countries are changing dynamically, which can limit the procurement prospects of the defense equipment by countries with struggling economies, thereby affecting the market prospects of the respective power solutions, globally.
Regions and Countries Level Analysis
Regional analysis is another highly comprehensive part of the research and analysis study of the global Military Power Solutions market presented in the report.
The report offers in-depth assessment of the growth and other aspects of the Military Power Solutions market in important countries (regions), including: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa) and ROW.
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Key Market Trends
Portable Segment is Projected to Grow with the Highest CAGR During the Forecast Period
The advent of portable electronic devices have revolutionized warfare and has fostered the requirement of portable power for deployment. While portable power sources are key to operating certain tactical equipment on the battlefield, they require proper logistical support, and hence there is a widening gap between the power requirement and power availability in the austere environment. Besides the portable power sources are required to be rechargeable without causing compatibility issues and vexing the associated risks of damage to both the power source and the equipment. Several ongoing R&D projects aim to enhance the performance parameters of portable power solutions on the battlefield while minimizing the associated operational challenges such as compatibility, and SWaP. As of March 2020, the US Army was planning to deploy a miniature nuclear generator weighing a maximum of 40 tons to ensure logistics by using a freight truck, ship, or aircraft. The system, dubbed Pele, envisions to develop a safe, mobile, and advanced nuclear microreactor that can support a variety of US DoD missions, including but not limited to power generation for remote operating bases in case of a cyberattack. The US DoD has already awarded three contracts for obtaining an engineering design of the reactors with an initial capacity in the range of 1-5 MW. The Pele Project is scheduled for testing in 2023. Besides, the growing adoption of smart clothing has also resulted in an increased demand for portable power systems. Such factors are expected to drive the portable segment of the market, during the forecast period.
Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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