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Next Generation Military Power Supply Market Trends

Report ID: GMI7966
Published Date: Jan 2024
Report Format: PDF

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Next Generation Military Power Supply Market Trends

The emerging trends in military power supply system revolve around continuous R&D efforts in batteries and supercapacitors, leading to advancements in energy storage technologies. This trend aims to enhance power density, increase efficiency, and improve the overall system performance. The focus is on developing energy storage solutions that can deliver more power in a compact and lightweight form, addressing the unique needs of modern military platforms for extended missions, portability, and increased energy resilience in diverse operational environments.

Miniaturization in military power systems is another emerging market trend that involves concentrated efforts to design compact and lightweight power supply solutions, aligning with the Size, Weight, and Power (SWaP) constraints of contemporary military platforms. The systems include unmanned systems and portable devices, where space and weight are critical considerations. The goal is to enhance operational flexibility, mobility, and versatility, allowing military personnel to deploy efficient power systems that seamlessly integrate with smaller, more agile, and technologically advanced military equipment.

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

Industry size for next generation military power supply reached USD 12.1 billion in revenue in 2023 and is projected to expand at over 6% CAGR from 2024-2032 attributed to the increasing defense spending worldwide.

The hardware segment accounted for more than 67% share of the next generation military power supply industry in 2023 and is expected to witness high demand through 2032 attributed to the ongoing advancements in power electronics, energy storage technologies, and system components.

North America held 40% revenue share in the next-generation military power supply industry in 2023 and is estimated to expand at a robust CAGR from 2024-2032 attributed to the increased defense budgets, technological advancements, and the modernization of military equipment.

Some of the major next generation military power supply firms are Abbott Technologies, Aegis Power Systems, Inc., Eaton Corporation PLC, Mitsubishi Electric Corporation, Multisphere Power Solutions Pvt. Ltd., Powerbox International AB, SynQor, Inc., TDK-Lambda Corporation, Texas Instruments Incorporated, and XP Power.