Dublin, Feb. 07, 2025 (GLOBE NEWSWIRE) — The “Military Vehicle Electrification Market Report 2025” report has been added to ResearchAndMarkets.com’s offering.
This Military Vehicle Electrification market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The military vehicle electrification market size has grown rapidly in recent years. It will grow from $6.82 billion in 2024 to $8.05 billion in 2025 at a compound annual growth rate (CAGR) of 18%. The growth in the historic period can be attributed to fuel efficiency, environmental regulations, energy security, logistical simplification, enhanced armor and mobility.
The military vehicle electrification market size is expected to see rapid growth in the next few years. It will grow to $14.27 billion in 2029 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to interoperability, adaptive charging infrastructure, export opportunities, hydrogen fuel cells, renewable energy integration. Major trends in the forecast period include hybrid and electric platforms, next-generation batteries, modular and adaptable systems, artificial intelligence (AI) and autonomous features, urban warfare adaptability.
The increasing fuel efficiency is anticipated to drive the growth of the military vehicle electrification market in the future. The expected rise in fuel prices is set to propel the growth of the military vehicle electrification market. A key trend gaining traction in the military vehicle electrification market is product innovation.
Major companies in the military vehicle electrification market are concentrating on technological advancements, such as infantry fighting vehicles, to deliver both armored protection and improved mobility. For example, in February 2024, ST Engineering, a Singapore-based technology, defense, and engineering firm, introduced the Hybrid-Electric 35-ton Armored Fighting Vehicle. This hybrid-electric drive kit, which can also be integrated into other platforms, provides additional power for digital capabilities like enhanced situational awareness and supports an open architecture for AI-driven software integrations. The vehicle features an AI-powered surveillance optical radar that uses machine learning to detect and map target locations and distances, while manned-unmanned teaming facilitates efficient mission planning and execution.
North America was the largest region in the military vehicle electrification market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in military vehicle electrification market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the military vehicle electrification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Report Scope
Markets Covered:
1) By Technology: Hybrid; Fully Electric
2) By Operation: Manned; Autonomous/Semi-Autonomous
3) By Platform: Combat Vehicles; Support Vehicles; Unmanned Armored Vehicles
4) By System: Power Generation; Cooling Systems; Energy Storage; Traction Drive Systems; Power Conversion
Subsegments:
1) By Hybrid: Series Hybrid Systems; Parallel Hybrid Systems; Plug-in Hybrid Systems
2) By Fully Electric: Battery Electric Vehicles (BEVs); Fuel Cell Electric Vehicles (FCEVs)
Key Companies Profiled: BAE Systems plc; Arquus; Leonardo S.p.A.; Textron Inc.; General Motors Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $8.05 Billion |
| Forecasted Market Value (USD) by 2029 | $14.27 Billion |
| Compound Annual Growth Rate | 15.4% |
| Regions Covered | Global |
Some of the major companies featured in this Military Vehicle Electrification market report include:
- BAE Systems plc
- Arquus
- Leonardo S.p.A.
- Textron Inc.
- General Motors Company
- Oshkosh Corporation
- Ballard Power Systems Inc.
- AM General LLC
- Nikola Corporation
- Alke S.r.l.
- Aselsan A.S.
- Epsilor Electric Fuel Ltd.
- Flensberg Fahrzeugbau Gesellschaft mbH
- Kongsberg Gruppen
- Lockheed Martin Corporation
- Magna International Inc.
- Navistar International Corporation
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
- Ricardo plc
- Siemens AG
- Tata Motors Limited
- RTX Corporation
- Thales Group
- UQM Technologies Inc.
- Visedo Oy
- Wrightspeed Inc.
- XALT Energy LLC
For more information about this report visit https://www.researchandmarkets.com/r/86pebt
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- Military Vehicle Electrification Market
