The next generation military power supply global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Next Generation Military Power Supply Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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..
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Scope Of Next Generation Military Power Supply Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Next Generation Military Power Supply Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
Asia-Pacific was the largest region in the next-generation military power market in 2023. The regions covered in the next generation military power supply market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the next generation military power supply market report are XP Power Limited., Advanced Conversion Technology Inc., Eaton Corporation, Aegis Power System Inc., TDK-Lambda Americas Inc., Abbott Technologies, AGMA Power Systems Ltd., Mitsubishi Electric Corporation, Energy Technologies Inc., Synqor Inc., AJ’s Power Source Inc., Prime Power Inc., Powerbox International AB, Milpower Source Inc., Astrodyne TDI Corporation, Fujitsu Limited, Infineon Technologies AG, Intel Corporation, Texas Instruments Incorporated, Spin Memory Inc., EnerSys, Cummins Inc., Saft Groupe SA, Arotech Corporation, Raytheon Technologies Corporation, SFC Energy AG, EaglePicher Technologies LLC, Denchi Power Ltd., Concorde Battery Corporation, Eniquest Pty. Ltd. .
Table of Contents
1. Executive Summary
2. Next Generation Military Power Supply Market Report Structure
3. Next Generation Military Power Supply Market Trends And Strategies
4. Next Generation Military Power Supply Market – Macro Economic Scenario
5. Next Generation Military Power Supply Market Size And Growth
…..
27. Next Generation Military Power Supply Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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