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Military Vehicle Electrification Market Share

  • Report ID: GMI10482
  • Published Date: Jul 2024
  • Report Format: PDF

Military Vehicle Electrification Market Share

Leading companies in military vehicle electrification are driving significant advancements in the defense sector. BAE Systems excels in integrating advanced hybrid and electric technologies into combat and tactical vehicles, enhancing operational capabilities and sustainability. General Dynamics focuses on improving fuel efficiency and range through hybrid powertrains, leveraging its extensive experience in armored vehicles.
 

Rheinmetall AG is innovating in hybrid and electric propulsion systems, contributing to enhanced mobility and efficiency. Lockheed Martin integrates electric and hybrid systems into its military platforms, advancing performance and capabilities. Northrop Grumman emphasizes energy efficiency and operational effectiveness with its electric propulsion and energy management solutions.
 

These leading defense contractors are not only advancing electric and hybrid technologies but are also responding to increasing demands for environmental sustainability and operational efficiency in military operations. Their combined efforts are pushing the boundaries of what is possible in vehicle electrification, from reducing fuel consumption and minimizing logistical dependencies to enhancing stealth and maneuverability in combat scenarios. By investing in research and development, these companies are setting new standards for military vehicle performance and sustainability, ensuring that armed forces worldwide can benefit from the latest technological innovations.
 

Military Vehicle Electrification Market Companies

Major players operating in the military vehicle electrification industry are:

  • BAE Systems
  • General Dynamics Corporation
  • Rheinmetall AG
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Raytheon Technologies Corporation
  • Leonardo S.p.A.
Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of military vehicle electrification reached USD 4.7 billion in 2023 and is set to register over 26.7% CAGR from 2024-2032, led by the rapid evolution in battery technology.

The hybrid military vehicle electrification segment is expected to reach over USD 20.3 billion by 2032, as it has the strength of traditional internal combustion engines with electric propulsion.

North America market recorded over 34% share in 2023, driven by substantial defence budgets and advanced technological capabilities.

BAE Systems, General Dynamics Corporation, Rheinmetall AG, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, and Leonardo S.p.A. among others.

Military Vehicle Electrification Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 400
  • Countries covered: 19
  • Pages: 230
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