Military Power Solutions Market Share Global Demand Analysis
Market Forecast:
Global Military Power Solutions Market Share is projected to register a CAGR of 8% from 2022 to 2030.
Increasing technological advancements in military power solutions such as solar power, nuclear power batteries, and fuel cells are expected to drive the growth of the Military Power Solutions Market Share.
The rapidly growing need for durable and maintenance-free power sources and rising defence electronics budget across the world has significantly contributed to the expansion of the Military Power Solutions Market Share.
Regional Analysis:
Furthermore, increasing initiatives undertaken by the government of countries such as the US for the development of advanced military power solutions are also expected to drive the growth of the market. For example, in March 2020, the Pentagon awarded development contracts to X-energy, LLC, for USD 14.3 million to begin a two-year engineering competition for designing a small nuclear microreactor that is intended to be deployed outside the US.
However, issues in generating high output power and the high initial cost of deployment might hamper the growth of the global market for military power solutions.
Key Players:
Cummins Inc(US), Schaefer Inc (US), Gresham Power Electronics Limited (UK), Raytheon Technologies Corporation (US), Saft Groupe SA (France), Enersys Inc (US), Arotech Corporation (US), SFC Energy AG (Germany), Eaglepicher Technologies LLC (US), Denchi Power Ltd (UK)
Market Segmentation:
Portable segment to register the higher growth rate: The portable segment is expected to register the higher CAGR during the forecast period, 2020 to 2026. The rising demand for portable batteries and other defense electronics due to the increasing number of military vehicles across the world is expected to drive the growth of the segment in the global market.
Fuel cells segment is expected to be the fastest growing: The fuel cells segment is expected to grow with the highest CAGR during the study period, 2020 to 2026. The benefits offered by fuel cells, such as high durability and high capacity of storage, are expected to drive the growth of the segment.
Ground segment is expected to register the highest CAGR: the ground segment is expected to grow at the highest CAGR during the study period. This growth can be attributed to factors such as the increase in the demand for military power solutions for military base camps and military vehicles. Manufacturers are currently focusing on developing military power solutions that are more reliable and efficient.
Medium power segment to register the highest growth rate: The medium power segment is expected to register the highest CAGR during the forecast period, 2020 to 2026. Rising procurement of defense vehicles, tanks, and other defense systems, increasing number of military operations, and increasing budget allocations of developing economies are expected to drive the growth of the segment in the global market.
Full report @ https://www.marketresearchfuture.com/reports/military-power-solutions-market-10310
FAQs
· Who are key players of the Nap capsules market? Read More
· What is the CAGR for Global Leap Engine market? Read More
About Market Research Future:
Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions
Contact:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor, New York, New York 10013,
United States of America
+1 646 845 9312
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian