Global Military Vehicle Electrification Market size was valued at USD 3.6 billion in 2023. It is likely to grow up to USD 6.9 billion by 2030 at a CAGR of 13.9 % during the forecast period ranging between 2025 and 2030.
Global Military Vehicle Electrification Market size was valued at USD 3.6 billion in 2023. It is likely to grow up to USD 6.9 billion by 2030 at a CAGR of 13.9 % during the forecast period ranging between 2025 and 2030.
Military vehicle electrification refers to the use of batteries or hybrid technologies in place of traditional fuels to power military vehicles. Energy recovery techniques, battery storage systems, and electric motors are all included. This technology makes operations safer and quieter while reducing reliance on fuel. They are also simpler to maintain and lower shipping expenses. However, even in situations where resources are few, hybrid or electric cars can run for longer. It gives an inexpensive, ecologically responsible, and tactically safer solution. However, limited battery range and lack of charging infrastructure hamper the market.
Browse market data Tables and Figures spread through 137 Pages and in-depth TOC on Global Military Vehicle Electrification Market By Technology (Battery Electric Vehicle, Hybrid Electric Vehicle and Fuel Cell Electric Vehicle ), By Platform (Light Duty Vehicles, Medium Duty Vehicles and Armored Fighting Vehicles ), By System (Power Generation, Power Storage, Power Conversion and Electric Drive Systems), By Operation (Manned and Unmanned Ground Vehicles) and By Geography (North America, Europe, Asia Pacific, Rest of the World) - Forecast from 2025 to 2030.
Global Military Vehicle Electrification Market Segmentation and Key Players
|
Segment / Key Players |
Categorization |
|
Technology |
Battery Electric Vehicle, Hybrid Electric Vehicle and Fuel Cell Electric Vehicle |
|
Platform |
Light Duty Vehicles, Medium Duty Vehicles and Armored Fighting Vehicles |
|
System |
Power Generation, Power Storage, Power Conversion and Electric Drive Systems |
|
Operation |
Manned and Unmanned Ground Vehicles |
|
Key Players |
BAE Systems, General Dynamics, Lockheed Martin, Leonardo S.p.A., Textron Inc., Oshkosh Corporation, Rheinmetall AG, Northrop Grumman, Hanwha Defense, Arquus, ST Engineering, QinetiQ Group plc |
By technology, battery electric vehicle dominated the global military vehicle electrification market.
Battery electric vehicle (BEV) segment rules due to development of high energy density batteries.
"North America dominated the global military vehicle electrification market."
North America is the largest market as the US has a high defense budget and rapid technological innovation.
Some of the major players in this market are BAE Systems, General Dynamics, Lockheed Martin, Leonardo S.p.A., Textron Inc., Oshkosh Corporation, Rheinmetall AG, Northrop Grumman, Hanwha Defense, Arquus, ST Engineering, QinetiQ Group plc
Recent Developments by the Key Players
SSH Communications Security has collaborated with Leonardo S.p.A. a global key player in aerospace, defence, and security to boost cybersecurity growth.
Global Military Vehicle Electrification Market coverage (By Value)
- Technology Insight and Forecast 2025 - 2030
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Platform Insight and Forecast 2025 - 2030
- Light Duty Vehicles
- Medium Duty Vehicles
- Armored Fighting Vehicles
- System Insight and Forecast 2025 - 2030
- Power Generation
- Power Storage
- Power Conversion
- Electric Drive Systems
- Operation Insight and Forecast 2025 - 2030
- Manned
- Unmanned Ground Vehicles
Geographical Segmentation
Global Military Vehicle Electrification Market by Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Vietnam
- Thailand
- Malaysia
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries