“Increasing defense electronics budget is expected to be one of the key factors expected to drive the market”
The military power solutions market is projected to reach USD 9.01 billion by 2022, at a CAGR of 9.07% during the forecast period. Factors, such as requirement for durable and maintenance free power sources power solution for military is expected to drive the growth of the military power solutions market.
“The portable segment is expected to witness highest growth during the forecast period”
The portable segment is expected to witness highest growth, owing to the increasing demand for portable power sources in applications, such as soldiers, UAVs, and vehicles, among others. Military forces across the globe demand compact sources of power that can provide high energy density for a longer time-period. The power sources should also be safe and rugged to withstand the harsh environment.
“The fuel cells segment is projected to witness highest growth during the forecast period.”
Fuel cells are being used extensively in the battlefield. These cells are replacing the batteries and generators due to their benefits, such as safety, reliability, noise-reduction, and high energy density. Fuel cells are used in various applications, such as soldiers, UAVs, and ground vehicles, among others.
“North America is estimated to be the largest market for military power solutions in 2016”
North America is expected to be the largest market for military power solutions, owing to the high defense spending by the U.S. Increasing demand for lightweight and energy efficient power sources is expected to fuel the market for military power solutions in the region. Major players are making significant investments in research and development to develop advanced military power solutions.
Some of the key manufacturers and suppliers of military power solutions in this region include Raytheon Company (U.S.), Arotech Corporation (U.S.), Advanced Conversion Technology, Inc. (U.S.), Concorde Battery Corporation (U.S.), and Energy Technologies, Inc. (U.S.), among others.
Break-up of profile of primary participants in the military power solutions market:
• By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation – C level – 35%, Director level – 25%, Others – 40%
• By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the report include Arotech Corporation (U.S.), SAFT Groupe SA (France), SFC Energy AG (Germany), Concorde Battery Corporation (U.S.), and Energy Technologies, Inc. (U.S.), among others.
This research report categorizes the military power solutions market based on type (portable, non-portable), source (batteries, generators, fuel cells, solar power, energy harvesters), application (air, land, naval), wattage (low, medium, and high power) and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on military power solutions offered by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military power solutions market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for military power solutions across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military power solutions market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the military power solutions market