Dublin, June 25, 2025 (GLOBE NEWSWIRE) — The “Military Power Solutions Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The global military power solutions market is poised for significant growth through 2034. Valued at approximately $9.29 billion in 2024, it is expected to expand at a compound annual growth rate (CAGR) of 7.77% to reach $13.52 billion by 2029, eventually climbing to $19.01 billion by 2034 with a CAGR of 7.06%.
Several factors have driven the market’s expansion from 2019 to 2024, including increased defense budgets, renewable energy integration, heightened terrorist threats, and demand for portable power solutions. Conversely, logistics challenges and dependence on solar power have hindered growth.
Future growth will be fueled by the increased use of unmanned aerial vehicles (UAVs), favorable government policies, rising interest in space-based military operations, and the electrification of military vehicles. Potential obstacles could include disruptions in the supply chain of critical minerals and limited funding for military updates.
North America leads the market, holding 37.60% or $3.49 billion of the total market in 2024, followed by Asia-Pacific, Western Europe, and other regions. Asia-Pacific and Western Europe are anticipated to grow rapidly, at CAGRs of 10.76% and 7.75% respectively. Africa and South America are also forecast to grow, at CAGRs of 7.10% and 6.44% respectively.
The market is moderately fragmented, with top players like Raytheon Technologies Corporation, Cummins Inc., and EnerSys Inc. dominating the landscape. The top ten competitors account for 19.32% of the market share in 2023.
Segmentation by type shows the non-portable segment leads with 65.74% or $6.11 billion in 2024, though the portable segment is the fastest growing with an 8.60% CAGR through 2029. The market is also divided by source, with batteries accounting for 35.55% or $3.3 billion in 2024. Notably, the energy harvesters segment is anticipated to grow the quickest, at a CAGR of 14.06% by 2029.
Medium power solutions dominate the wattage segments, while the high-power category is growing the fastest at a 9.34% CAGR through 2029. By platform, land applications account for 50.34% of the market, yet air applications are expected to expand rapidly at an 8.84% CAGR through 2029.
Significant opportunities lie in non-portable solutions, fuel cells, medium power solutions, and land applications, which will collectively gain billions in global annual sales by 2029, with notable growth expected in the U.S. market.
Emerging trends emphasize the development of high-efficiency batteries, strategic military power initiatives, and innovative power units for tactical upgrades. Key mergers and acquisitions further underscore market dynamism, with major deals involving companies like Atlas Energy Solutions, EnerSys, and HEICO Corporation.
For strategic growth, analysts suggest focusing on high-capacity battery development, long-term tactical power contracts, and rugged integrated power systems. Expanding into emerging markets, enhancing distribution networks, and competitive pricing strategies are also recommended to leverage the opportunities in this burgeoning market.
The Report Covers the Following Chapters
- Introduction and Market Characteristics: Discusses segmentations and definitions concerning type, source, wattage, and platform.
- Key Trends: Highlights significant trends and future market developments.
- Macro-Economic Scenario: Analyzes the impact of COVID-19, the Russia-Ukraine war, and rising inflation, offering strategic insights for businesses in aerospace forging.
- Global Market Size and Growth: Presents historic (2019-2024) and forecast (2024-2029, 2034F) market values, drivers, and restraints.
- Regional and Country Analysis: Compares historic (2019-2024) and forecast (2024-2034) market values by region and country.
- Market Segmentation: Provides analysis for each segment by type, source, wattage, and platform.
- Regional Market Size and Growth: Offers regional size analysis and growth forecasts, including comparisons within regions like Asia-Pacific, Western and Eastern Europe, North America, South America, Middle East, and Africa.
- Competitive Landscape: Details market competition, estimated shares, and profiles of leading companies.
- Competitive Benchmarking and Dashboard: Financial comparisons and overview of significant players.
- Key Mergers and Acquisitions: Details recent transactions and their financial implications.
- Market Opportunities and Strategies: Suggests growth opportunities and strategic directions.
- Conclusions and Recommendations: Offers actionable insights for providers in product offerings and marketing strategies.
- Appendix: Contains additional reference details such as NAICS codes and abbreviations.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 325 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $9.29 Billion |
| Forecasted Market Value (USD) by 2034 | $19.01 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Major Market Trends:
- High-Efficiency Battery Development for Tactical and Surveillance Use
- Defense Contract Awarded for Tactical Power Systems
- Durable Power Solution for Military and Industrial Use
- High-Performance Power Units Drive Tactical Vehicle Upgrades
Key Mergers and Acquisitions:
- Atlas Energy Solutions Inc. Acquired Moser Energy Systems
- EnerSys Acquired Bren-Tronics
- HEICO Corporation Acquired Marway Power Solutions Inc.
Companies Featured
- Raytheon Technologies Corporation
- Cummins Inc
- EnerSys Inc
- L3Harris Technologies Inc
- Inventus Power Inc
- Eaglepicher Technologies LLC
- Saft Group S.A
- Northrop Grumman Corporation
- Oshkosh Defense LLC
- GS Yuasa Corporation
- DroneShield
- Bharat Electronics Limited (BEL)
- Tata Power SED
- Advanced Communications and Electronics Systems Co
- China Electronics Technology Group Corporation (CETC)
- Norinco
- Mitsubishi Heavy Industries, Ltd. (MHI)
- Kawasaki Heavy Industries Ltd
- IHI Corporation
- Japan Steel Works, Ltd
- Fujitsu Limited
- ShinMaywa Industries, Ltd
- Tacticalist
- HD Hyundai Heavy Industries
- Samyang Comtech
- SNT Motiv
- Poongsan Corporation
- Novacium SAS
- W5 Solutions
- Solus Power
- CMCA Integrated Systems Ltd
- Safran S.A
- Rheinmetall AG
- Siemens AG
- Leonardo S.p.A
- Indra Sistemas S.A
- BAE Systems plc
- Rolls-Royce Holdings plc
- Kaluga Research Radio Engineering Institute (KNIRTI)
- Czechoslovak Group (CSG)
- Polska Grupa Zbrojeniowa (PGZ)
- ROMARM
- United Engine Corporation (UEC)
- Kalashnikov Concern
- Uralvagonzavod
- Tactical Missiles Corporation (KTRV)
- Advent Technologies
- Meritor inc
- General Dynamics Corporation
- Lockheed Martin Corporation
- General Dynamics Mission Systems
- Rheinmetall Canada Inc
- Hybrid Power Solutions Inc
- Embraer S.A.
- Epsilor Electric Fuel Ltd
- EDGE Group
- Advanced Electronics Company
- Thales Group
- Elbit Systems Ltd
- Denel SOC Ltd
- Paramount Group
- Aggreko
- AEG Power Solutions
- Schneider Electric
- Power & Energy Solutions
For more information about this report visit https://www.researchandmarkets.com/r/bj0lju
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- Military Power Solutions Market
