The latest research study “Military Power Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global military power solutions market size reached a value of US$ 8.18 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.01 Billion by 2027 exhibiting a CAGR of 6.30% during 2022-2027.
Military power solutions are devices used to power isolated outposts, electrical devices, drones or unmanned aerial vehicles, military machinery, and equipment. They include batteries, fuel cells, energy harvesters, generators, and solar power cells that assist standard voltage ranges and enable enhanced power continuity for various operations. Compared to commercial power supplies, these solutions support higher voltages and lower input signals.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Military Power Solutions Market Trends and Drivers:
The market is primarily driven by the growing utilization of durable military power solutions due to the deployment of troops at isolated regions across the globe. In addition, the increasing defense electronics budget to facilitate the military troops and machinery represents another major growth-inducing factor.
Besides this, there has been a rising demand for soundless power solutions to power electronics and drones without revealing the area of the outposts. This, coupled with various initiatives taken by governments of numerous countries to upgrade defense equipment, is positively influencing the market growth. Moreover, key players are investing heavily in research and development (R&D) activities to develop innovative, cost-effective, and high-quality military power products.
Furthermore, the growing need for maintenance-free and reliable hybrid power solutions, the escalating demand for military drones to carry out counterterrorism surveillance and strikes, and the increasing inclination toward miniaturized power sources are some of the other factors creating a positive market outlook across the globe.
| Military Power Solutions Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 8.18 Billion |
| Market forecast in 2027 | US$ 12.01 Billion |
| Growth Rate | CAGR of 5.57% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
Global Military Power Solutions Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Arotech Corporation, Concorde Battery Corporation, Cummins Inc., Denchi Group Ltd., EaglePicher Technologies, EnerSys Inc., Eniquest, Himoinsa S.L. (Yanmar Co. Ltd.), Raytheon Technologies Corporation, Saft (TotalEnergies SE) and SFC Energy AG.
The report has segmented the market on the basis of region, type, source, wattage and application.
Breakup by Type:
• Portable
• Non-Portable
Breakup by Source:
• Batteries
• Generators
• Others
Breakup by Wattage:
• Low Power
• Medium Power
• High Power
Breakup by Application:
• Air
• Land
• Naval
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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