The Next Generation Military Power Supply by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Next Generation Military Power Supply, The next generation military power supply market size has grown strongly in recent years. It will grow from $12.27 billion in 2023 to $13.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to integration of smart and adaptive features, adoption of renewable energy, technological innovation in power electronics, energy efficiency, ruggedization and durability.
The next generation military power supply market size is expected to see strong growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increased demand for portable power, focus on energy-efficient solutions, ruggedized and resilient designs, adaptive and smart power systems, demand for hybrid power solutions, regulatory and compliance standards.. Major trends in the forecast period include cybersecurity in power systems, adaptive and hybrid power systems, smart grid and energy management, enhanced resilience and durability, integration of energy storage solutions.
Increasing military expenditure is expected to propel the growth of the next-generation military power supply market going forward. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military would support the development of various aspects of the military market including next-generation military power supply. For instance, in December 2022, according to the European Defense Agency, a Europe-based defense agency, member states are spending a record amount of $53.4 USD billion (€52 billion) on the purchase of defense equipment, a rise of 16% compared to 2020. Further, total European defense spending reached a new high of $228.6 USD billion (€214 billion), up 6% from 2020 and continuing a seven-year trend of expansion. Therefore, increasing military expenditure is driving the next-generation military power supply market.
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The next generation military power supply market covered in this report is segmented –
1) By Components: Software, Hardware
2) By Type: Programmable, Non- Programmable
3) By Wattage: 500W to 1000W, 1001W to 5000W, 5001W to 10000W, 10001W to 20000W
4) By System: Integrated Power Supply, Discrete Power Supply
5) By End User: Aerial, Naval, Land
Technological advancements have emerged as a key trend gaining popularity in the next-generation military power supply market. Major companies operating in the market are focused on introducing new technologies to gain a competitive advantage. For instance, in 2022, Advent Technologies, a US-based computer and telecommunications company, launched the Honey Badger 50 power system, a compact portable fuel cell system and quiet power supply for the military. This technologically advanced power system enables clean emissions and nearly silent generation of up to 50W of continuous power using biodegradable methanol. Additionally, this also offers unique general battery charging requirements used in soldier-worn configurations, that can readily charge radio and satellite communications equipment, remote fixed and mobile surveillance systems, laptop computers, and other electronic devices with thermal features of allowing to operate between -20C to +55C.
The next generation military power supply market report table of contents includes:
1. Executive Summary
2. Next Generation Military Power Supply Market Characteristics
3. Next Generation Military Power Supply Market Trends And Strategies
4. Next Generation Military Power Supply Market – Macro Economic Scenario
5. Global Next Generation Military Power Supply Market Size and Growth
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26. South America Next Generation Military Power Supply Market
27. Brazil Next Generation Military Power Supply Market
28. Middle East Next Generation Military Power Supply Market
29. Africa Next Generation Military Power Supply Market
30. Next Generation Military Power Supply Market Competitive Landscape And Company Profiles
Top Major Players:
- XP Power Limited
- Advanced Conversion Technology Inc
- Eaton Corporation
- Aegis Power System Inc
- TDK-Lambda Americas Inc
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