The Military Power Solutions Global Market Report 2023, provides comprehensive information on the military power solutions market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global military power solutions market size is expected to grow from $7.77 billion in 2022 to $8.59 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The global military power solutions market size is expected to reach $12.26 billion in 2027 at a CAGR of 9.3%.
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Product innovation is the key trend gaining popularity in the military power solutions market. Major companies operating in the military power solutions market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2022, Advent Technologies, a US-based company that manufactures fuel cells and hydrogen clean-up devices for the military sector, launched the innovative and unique Honey Badger 50 (“HB50”), on-the-go soldier systems. This is used within an ambient temperature range of -20C to +55C and is applicable in soldier-worn configurations, operated inside a portable backpack and vehicle while charging batteries and powering soldier systems.
The military power solutions market is segmented:
1) By Type: Portable, Non-Portable
2) By Source: Batteries, Generators, Fuel Cells, Energy Harvesters, Other Sources
3) By Wattage: Low Power, Medium Power, High Power
4) By Platform: Air, Land, Sea
North America was the largest region in the military power solutions market in 2022.
The table of contents in TBRC’s military power solutions market report includes:
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Top Major Players
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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