Table of Content


1 INTRODUCTION 32
1.1 OBJECTIVES OF THE STUDY 32
1.2 MARKET DEFINITION 32
1.3 STUDY SCOPE 33
FIGURE 1 MILITARY VEHICLE ELECTRIFICATION MARKET SEGMENTATION 33
1.3.1 REGIONAL SCOPE 34
1.3.2 YEARS CONSIDERED FOR THE STUDY 34
1.4 CURRENCY 35
TABLE 1 USD EXCHANGE RATES 35
1.5 LIMITATIONS 35
1.6 INCLUSIONS AND EXCLUSIONS 36
1.7 MARKET STAKEHOLDERS 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 2 RESEARCH PROCESS FLOW 37
FIGURE 3 RESEARCH DESIGN 38
2.1.1 SECONDARY DATA 38
2.1.1.1 Key data from secondary sources 39
2.1.2 PRIMARY DATA 39
2.1.2.1 Key data from primary sources 39
2.1.3 MILITARY VEHICLE ELECTRIFICATION PRIMARY DATA 40
2.2 RESEARCH APPROACH & METHODOLOGY 40
2.2.1 BOTTOM-UP APPROACH 41
2.2.1.1 Market size estimation 41
2.2.1.2 Military vehicle electrification market research methodology 41
FIGURE 4 RESEARCH METHODOLOGY 41
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 42
2.2.1.3 Impact of COVID-19 on the military vehicle electrification market 42
2.2.2 TOP-DOWN APPROACH 42
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 42
2.3 MARKET TRIANGULATION 43
2.3.1 TRIANGULATION THROUGH SECONDARY RESEARCH 43
FIGURE 7 DATA TRIANGULATION 43
2.4 RESEARCH ASSUMPTIONS 44
FIGURE 8 ASSUMPTIONS FOR THE RESEARCH STUDY ON THE MILITARY VEHICLE ELECTRIFICATION MARKET 44
2.5 RISK ANALYSIS 44
3 EXECUTIVE SUMMARY 45
FIGURE 9 COMBAT VEHICLES PLATFORM ACCOUNTED FOR THE LARGEST SHARE OF THE MILITARY VEHICLE ELECTRIFICATION MARKET IN 2020 46
FIGURE 10 HYBRID VEHICLES SEGMENT TO ACCOUNT FOR LARGER SHARE OF THE MILITARY VEHICLE ELECTRIFICATION MARKET DURING THE FORECAST PERIOD 46
FIGURE 11 MANNED SEGMENT TO DOMINATE THE MILITARY VEHICLE ELECTRIFICATION MARKET BY OPERATION DURING THE FORECAST PERIOD 47
FIGURE 12 TRACTION DRIVE SYSTEMS SEGMENT TO DOMINATE MILITARY VEHICLE ELECTRIFICATION MARKET DURING THE FORECAST PERIOD 47
FIGURE 13 EUROPE ACCOUNTED FOR LARGEST SHARE OF THE MILITARY VEHICLE ELECTRIFICATION MARKET IN 2020 48
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES IN THE MILITARY VEHICLE ELECTRIFICATION MARKET, 2020–2025 49
FIGURE 14 INCREASING INVESTMENTS DRIVE THE MILITARY VEHICLE ELECTRIFICATION MARKET 49
4.2 MILITARY VEHICLE ELECTRIFICATION MARKET, BY PLATFORM 50
FIGURE 15 COMBAT VEHICLES PLATFORM TO DOMINATE THE MILITARY VEHICLE ELECTRIFICATION MARKET DURING THE FORECAST PERIOD 50
4.3 MILITARY VEHICLE ELECTRIFICATION MARKET, BY COMBAT VEHICLES PLATFORM 50
FIGURE 16 LIGHT PROTECTED VEHICLES TO LEAD THE MILITARY VEHICLE ELECTRIFICATION MARKET DURING THE FORECAST PERIOD 50
4.4 MILITARY VEHICLE ELECTRIFICATION MARKET, BY SUPPORT VEHICLES PLATFORM 51
FIGURE 17 REPAIR AND RECOVERY VEHICLES TO LEAD THE MILITARY VEHICLE ELECTRIFICATION MARKET DURING THE FORECAST PERIOD 51
4.5 MILITARY VEHICLE ELECTRIFICATION MARKET, BY SYSTEM 51
FIGURE 18 TRACTION DRIVE SYSTEMS SEGMENT TO ACCOUNT FOR THE LARGEST SHARE IN THE MILITARY VEHICLE ELECTRIFICATION MARKET 51
4.6 MILITARY VEHICLE ELECTRIFICATION MARKET, BY COUNTRY 52
FIGURE 19 AUSTRALIA TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.1.1 DRIVERS 53
5.1.1.1 Rising requirement for electric power sources 53
5.1.1.2 Increasing oil prices and emission regulations 54
5.1.1.3 Increasing demand for lithium-ion batteries for military vehicles 54
5.1.1.4 Rising demand for autonomous military vehicles 55
5.1.1.5 Increasing budget allocations for hybrid electric vehicles 56
TABLE 2 DEFENSE EXPENDITURE BY MAJOR COUNTRIES (USD MILLION) 56
5.1.1.6 Evolution of advanced hybrid propulsion systems 56
5.1.2 RESTRAINTS 57
5.1.2.1 Enhancements in power-to-weight ratio 57
5.1.2.2 Limited range of military electric vehicles 57
5.1.2.3 High cost of fuel cell electric vehicles 57
5.1.3 OPPORTUNITIES 58
5.1.3.1 Demand for power resources 58
5.1.3.2 Development of hydrogen fuel cell-powered military vehicles 58
5.1.3.3 Development of advanced power electronic components 59
5.1.4 CHALLENGES 59
5.1.4.1 Life and durability of integrated systems 59
5.1.4.2 Range and charging limits 59
5.2 IMPACT OF COVID-19 ON THE MILITARY VEHICLE ELECTRIFICATION MARKET 60
FIGURE 20 IMPACT OF COVID-19 ON THE MILITARY VEHICLE ELECTRIFICATION MARKET 60
5.2.1 DEMAND-SIDE IMPACTS 61
5.2.1.1 Key developments from January 2020 to March 2021 61
TABLE 3 KEY DEVELOPMENTS IN THE MILITARY VEHICLE ELECTRIFICATION MARKET 2020-2021 61
5.2.2 SUPPLY-SIDE IMPACT 61
5.2.2.1 Key developments from January 2020 to March 2021 61
TABLE 4 KEY DEVELOPMENTS IN THE MILITARY VEHICLE ELECTRIFICATION MARKET, JANUARY 2020 TO DECEMBER 2020 62
5.3 RANGES AND SCENARIOS 63
FIGURE 21 IMPACT OF COVID-19 ON THE MILITARY VEHICLE ELECTRIFICATION MARKET: GLOBAL SCENARIOS 63
5.4 TRENDS/BUSINESS IMPACTING CUSTOMER BUSINESS 64
5.4.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MILITARY VEHICLE ELECTRIFICATION MANUFACTURERS 64
FIGURE 22 REVENUE SHIFT IN MILITARY VEHICLE ELECTRIFICATION MARKET 64
5.5 TRENDS IN AVERAGE SELLING PRICES 65
FIGURE 23 COST COMPARISION OF ELECTRIC VEHICLE POWERTRAIN COMPONENTS IN 2017 AND 2025 65
FIGURE 24 COST STRUCTURE OF BATTERY ELECTRIC VEHICLE 65
5.6 MILITARY VEHICLE ELECTRIFICATION MARKET ECOSYSTEM 66
5.6.1 PROMINENT COMPANIES 66
5.6.2 PRIVATE AND SMALL ENTERPRISES 66
5.6.3 END USERS 66
FIGURE 25 MARKET ECOSYSTEM MAP: MILITARY VEHICLE ELECTRIFICATION MARKET 66
TABLE 5 MILITARY VEHICLE ELECTRIFICATION MARKET ECOSYSTEM 67
5.7 VALUE CHAIN ANALYSIS 68
FIGURE 26 VALUE CHAIN ANALYSIS: MAJOR VALUE ADDED DURING ORIGINAL EQUIPMENT MANUFACTURING AND INTEGRATION PHASES 68
5.8 PORTER’S FIVE FORCES ANALYSIS 69
TABLE 6 MILITARY VEHICLE ELECTRIFICATION SYSTEM MARKET: PORTER’S FIVE FORCE ANALYSIS 69
5.8.1 THREAT OF NEW ENTRANTS 70
5.8.2 THREAT OF SUBSTITUTES 70
5.8.3 BARGAINING POWER OF SUPPLIERS 70
5.8.4 BARGAINING POWER OF BUYERS 71
5.8.5 DEGREE OF COMPETITION 71
5.9 TARIFF AND REGULATORY LANDSCAPE 71
5.9.1 NORTH AMERICA 72
5.9.2 EUROPE 72
5.9.3 ASIA PACIFIC 72
5.9.4 MIDDLE EAST 72
5.10 TRADE ANALYSIS 73
TABLE 7 IGNITION OR STARTING EQUIPMENT: COUNTRY-WISE IMPORTS,
2019-2020 (USD) 73
TABLE 8 IGNITION OR STARTING EQUIPMENT: COUNTRY-WISE EXPORTS,
2019-2020 (USD) 74
TABLE 9 CELLS AND BATTERIES: COUNTRY-WISE EXPORTS, 2018-2019 (USD) 75
TABLE 10 CELLS AND BATTERIES: COUNTRY-WISE EXPORTS, 2019-2020 (USD) 76
TABLE 11 ELECTRIC GENERATING SETS: COUNTRY-WISE EXPORTS, 2018-2019 (USD) 77
TABLE 12 ELECTRIC GENERATING SETS: COUNTRY-WISE EXPORTS, 2019-2020 (USD) 78
6 INDUSTRY TRENDS 79
6.1 INTRODUCTION 79
6.2 TECHNOLOGY TRENDS 79
6.2.1 BATTERY SOURCES AND TYPES 79
6.2.1.1 Lithium-ion batteries 79
6.2.1.2 Lead acid batteries 80
6.2.1.3 Nickel-metal hydride batteries 80
6.2.1.4 Solid state batteries 80
TABLE 13 COMPARISON BETWEEN BATTERIES 81
6.2.2 HYDROGEN FUEL CELLS 81
6.2.3 POTENTIAL OF HYBRID TECHNOLOGY 82
6.2.4 ADVANCED INTEGRATED COMMUNICATION AND NETWORK SYSTEMS 82
6.2.5 ENERGY SOURCING AND POWER MANAGEMENT SYSTEMS 83
6.2.6 ADOPTION OF SMART SENSORS FOR MILITARY APPLICATIONS 83
6.3 TECHNOLOGICAL ANALYSIS 84
6.3.1 ADDITIVE MANUFACTURING – HIGH POWER DENSITY MACHINE 84
6.3.2 INTEGRATION OF ADVANCED WEAPON SYSTEMS 84
6.4 USE CASE ANALYSIS: MILITARY VEHICLE ELECTRIFICATION MARKET 85
6.4.1 PARIS AGREEMENT UNDER THE UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE 85
6.4.2 HYDROGEN: A FUTURE FUEL 85
6.4.3 UNMANNED SYSTEMS: A STEP TOWARDS ELECTRIFICATION 86
6.4.4 HYBRID DIESEL-ELECTRIC SYSTEMS 86
6.5 IMPACT OF MEGATRENDS 86
6.5.1 AUTONOMOUS VEHICLES IN THE MILITARY SECTOR 86
6.5.2 POLICIES SUPPORTING THE BATTERY AND HYDROGEN TECHNOLOGIES 87
6.6 INNOVATIONS AND PATENT REGISTRATIONS 87
7 MILITARY VEHICLE ELECTRIFICATION MARKET, BY PLATFORM 89
7.1 INTRODUCTION 90
FIGURE 27 UNMANNED ARMORED VEHICLES SEGMENT TO GROW AT THE HIGHEST CAGR DURING 2020-2025 90
TABLE 14 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM,
2020–2030 (USD MILLION) 90
7.2 COMBAT VEHICLES 91
TABLE 15 COMBAT VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020–2030 (USD MILLION) 91
TABLE 16 COMBAT VEHICLES PLATFORM MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION, 2020–2030 (USD MILLION) 91
7.2.1 MAIN BATTLE TANKS 92
7.2.1.1 Increasing demand for MBTs in cross-country operations 92
7.2.2 INFANTRY FIGHTING VEHICLES 92
7.2.2.1 Procurement of IFVs by emerging countries leading to increasing demand 92
7.2.3 WEAPON SYSTEMS ARMORED PERSONNEL CARRIERS (APC) 92
7.2.3.1 Increasing demand for weapon systems armored personnel carriers due to terrorist attacks and asymmetric warfare operations 92
7.2.4 AMPHIBIOUS VEHICLES (AAV) 93
7.2.4.1 Increasing demand for troop carriers on battlefields from sea to land 93
7.2.5 MINE-RESISTANT AMBUSH PROTECTED (MRAP) 93
7.2.5.1 Use of MRAPS for the protection of troops from IEDS and mines 93
7.2.6 LIGHT ARMORED VEHICLES (LAVS) 93
7.2.6.1 Increasing use of LAVS for border patrolling and surveillance activities 93
7.2.7 SELF-PROPELLED HOWITZERS (SPHS) 93
7.2.7.1 Increasing demand for self-propelled Howitzers (SPHS) on battlefields 93
7.2.8 MORTAR CARRIERS 93
7.2.8.1 Demand for military vehicles with mortars and having dedicated compartments for mortar storage 93
7.2.9 AIR DEFENSE VEHICLES 94
7.2.9.1 Adoption of vehicle mounted anti-aircraft guns for air defense roles 94
7.3 SUPPORT VEHICLES 94
TABLE 17 SUPPORT VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, 2020–2030 (USD MILLION) 94
TABLE 18 SUPPORT VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY REGION 2020–2030 (USD MILLION) 94
7.3.1 SUPPLY TRUCKS 95
TABLE 19 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SUPPLY TRUCKS, 2020–2030 (USD MILLION) 95
7.3.1.1 Fuel trucks 95
7.3.1.1.1 Increasing use of fuel trucks for supplying and transporting gas, diesel, or jet fuels to forward arming and refueling points 95
7.3.1.2 Ambulances 95
7.3.1.3 Ammunition Replenishment vehicles 95
7.3.2 COMMAND AND CONTROL VEHICLES 95
7.3.3 REPAIR AND RECOVERY VEHICLES 96
7.3.4 OTHERS 96
7.4 UNMANNED ARMORED VEHICLES 96
7.4.1 INCREASING ACTIVITIES IN RESEARCH & DEVELOPMENT FOR APPLICATIONS OF UNMANNED ARMORED VEHICLES ON BATTLEFIELDS 96
TABLE 20 UNMANNED ARMORED VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 96
8 MILITARY VEHICLE ELECTRIFICATION MARKET, BY OPERATION 97
8.1 INTRODUCTION 98
FIGURE 28 AUTONOMOUS/SEMI-AUTONOMOUS SEGMENT TO GROW AT HIGHER CAGR BETWEEN 2020-2025 98
TABLE 21 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION,
2020–2030 (USD MILLION) 98
8.2 MANNED VEHICLES 99
8.2.1 INVESTMENTS BY THE US, UK, CHINA, AND COUNTRIES IN THE MIDDLE EAST DRIVE THE MARKET 99
TABLE 22 MANNED MILITARY VEHICLES ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 99
8.3 AUTONOMOUS/SEMI-AUTONOMOUS VEHICLES 99
8.3.1 DEVELOPMENT OF UGVS FOR COMBAT SUPPORT EXPECTED TO DRIVE MARKET 99
TABLE 23 COMBAT SUPPORT VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 100
9 MILITARY VEHICLE ELECTRIFICATION MARKET, BY SYSTEM 101
9.1 INTRODUCTION 102
FIGURE 29 POWER GENERATION SEGMENT PROJECTED TO GROW AT THE HIGHEST CAGR DURING 2020-2025 102
TABLE 24 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
2020 - 2030 (USD MILLION) 102
9.2 POWER GENERATION 103
9.2.1 INCREASING DEMAND IN THE MILITARY VEHICLES FOR POWER GENERATING SOURCES 103
TABLE 25 POWER GENERATION IN MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 103
9.2.2 ENGINE/GENERATOR 103
9.2.2.1 Hybrid engine/ generator 103
9.2.2.1.1 Demand for robust and durable power generation sources for military vehicles 103
9.2.2.2 Turbine engines/generators 104
9.2.2.2.1 Modernization and procurement of military vehicles is increasing the demand for turbine engines/generators 104
9.2.3 GENERATOR CONTROLLER 104
9.2.4 AIR INDUCTION SYSTEM 104
9.2.5 TRACTION MOTORS/PROPULSION MOTORS 104
9.3 COOLING SYSTEMS 104
9.3.1 NEED OF COOLING SYSTEMS TOWARDS THE MAINTENANCE OF ENGINE OPERATION 104
TABLE 26 COOLING SYSTEMS MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY REGION 2020–2030 (USD MILLION) 105
9.3.2 HEAT EXCHANGERS 105
9.3.3 FANS 105
9.4 ENERGY STORAGE 105
9.4.1 REQUIREMENT OF BTTERY SYSTEMS FOR UNINTERRUPTED POWER SUPPLY THE VEHICLE 105
TABLE 27 ENERGY STORAGE SEGMENT MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020–2030 (USD MILLION) 105
TABLE 28 ENERGY STORAGE MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY REGION 2020–2030 (USD MILLION) 106
9.4.2 BATTERIES 106
9.4.2.1 Increasing demand of lithium-ion batteries for integrating as the power source for military vehicles 106
TABLE 29 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
BY BATTERIES 2020–2030 (USD MILLION) 106
9.4.2.2 Lead acid 106
9.4.2.3 Nickel metal hydride 107
9.4.2.4 Lithium ion 107
9.4.2.5 Solid state batteries 107
9.4.3 FUEL CELLS 107
9.5 TRACTION DRIVE SYSTEMS 107
9.5.1 REQUIREMENT OF TRACTION DRIVE SYSTEMS TO INCRESAE THE PROPULSION OF THE VEHICLE 107
TABLE 30 TRACTION DRIVE SYSTEMS MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 107
9.5.2 EX DRIVE 108
9.5.3 TRACTION CONTROLLER 108
9.5.4 FINAL DRIVE 108
9.6 POWER CONVERSION 108
9.6.1 INCREASING DEMAND FOR POWER CONVERSION SOLUTIONS FOR THE ONBOARD VEHICLE MANAGEMENT SYSTEMS 108
TABLE 31 POWER CONVERSION MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY REGION 2020–2030 (USD MILLION) 108
9.6.2 DC-DC CONVERTOR 109
9.6.3 POWER INVERTOR 109
9.6.4 ONBOARD CHARGER (ALTERNATOR) 109
10 MILITARY VEHICLE ELECTRIFICATION MARKET, BY TECHNOLOGY 110
10.1 INTRODUCTION 111
FIGURE 30 FULLY ELECTRIC SEGMENT PROJECTED TO GROW AT HIGHER CAGR DURING 2020-2030 111
TABLE 32 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY,
2020–2030 (USD MILLION) 111
10.2 HYBRID ELECTRIC VEHICLES 112
10.2.1 NEED FOR HYBRID ELECTRIC VEHICLES IN INCREASING THE EFFICIENCY IS EXPECTED TO DRIVE MARKET 112
TABLE 33 HYBRID ELECTRIC VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 112
10.3 FULLY ELECTRIC VEHICLES 112
10.3.1 ADOPTION OF FULLY EELCTRIC VEHICLE FOR NON-COMBAT UTLILITY PURPOSE IS DRIVING THE GROWTH OF THE MARKET 112
TABLE 34 FULLY ELECTRIC VEHICLES MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION 2020–2030 (USD MILLION) 113
11 MILITARY VEHICLE ELECTRIFICATION MARKET, REGIONAL ANALYSIS 114
11.1 INTRODUCTION 115
11.2 MILITARY VEHICLE ELECTRIFICATION MARKET: THREE GLOBAL SCENARIOS 115
FIGURE 31 GLOBAL SCENARIO OF MILITARY VEHICLE ELECTRIFICATION MARKET 115
FIGURE 32 ASIA PACIFIC PROJECTED TO GROW AT THE HIGHEST CAGR
FROM 2020 TO 2025 116
TABLE 35 MAJOR ONGOING PROGRAMS RELATED TO MILITARY VEHICLE ELECTRIFICATION, 2019-2020 116
TABLE 36 MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY REGION,
2020-2025(USD MILLION) 117
11.3 NORTH AMERICA 117
11.3.1 IMPACT OF COVID-19 ON NORTH AMERICA 117
11.3.2 PESTLE ANALYSIS: NORTH AMERICA 118
FIGURE 33 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SNAPSHOT 119
TABLE 37 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY COUNTRY, 2020-2030 (USD MILLION) 119
TABLE 38 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 120
TABLE 39 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 120
TABLE 40 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–2030 (USD MILLION) 120
TABLE 41 NORTH AMERICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 121
11.3.3 US 121
11.3.3.1 Modernization programs and defense policies increase demand for the electrification of military vehicles 121
FIGURE 34 US: MILITARY SPENDING, 2010–2019 (USD BILLION) 122
TABLE 42 US: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM,
2020-2030 (USD MILLION) 122
TABLE 43 US: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 122
TABLE 44 US: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
2020-2030 (USD MILLION) 123
TABLE 45 US: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 123
11.3.4 CANADA 123
11.3.4.1 Increasing R&D investments to drive market growth 123
FIGURE 35 CANADA: MILITARY SPENDING, 2010–2019 (USD BILLION) 124
TABLE 46 CANADA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 124
TABLE 47 CANADA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 124
TABLE 48 CANADA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 125
TABLE 49 CANADA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 125
11.4 EUROPE 125
11.4.1 IMPACT OF COVID-19 ON EUROPE 126
11.4.2 PESTLE ANALYSIS: EUROPE 126
FIGURE 36 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SNAPSHOT 127
TABLE 50 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY COUNTRY, 2020-2030 (USD MILLION) 128
TABLE 51 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 128
TABLE 52 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 128
TABLE 53 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 129
TABLE 54 EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 129
11.4.3 UK 129
11.4.3.1 Modernization of programs expected to drive market 129
FIGURE 37 UK: MILITARY SPENDING, 2010–2019 (USD BILLION) 130
TABLE 55 UK: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM,
2020-2030 (USD MILLION) 130
TABLE 56 UK: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 130
TABLE 57 UK: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
2020-2030 (USD MILLION) 131
TABLE 58 UK: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 131
11.4.4 FRANCE 131
11.4.4.1 Procurement of new generation combat vehicles for its defense forces are driving the market 131
FIGURE 38 FRANCE: MILITARY SPENDING, 2010–2019 (USD BILLION) 132
TABLE 59 FRANCE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 132
TABLE 60 FRANCE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030(USD MILLION) 132
TABLE 61 FRANCE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 133
TABLE 62 FRANCE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 133
11.4.5 GERMANY 133
11.4.5.1 R&D to boost market growth 133
FIGURE 39 GERMANY: MILITARY SPENDING, 2010–2019 (USD BILLION) 134
TABLE 63 GERMANY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 134
TABLE 64 GERMANY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 134
TABLE 65 GERMANY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 135
TABLE 66 GERMANY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2025–2030 (USD MILLION) 135
11.4.6 RUSSIA 135
11.4.6.1 Need to modernize military capabilities drives market 135
FIGURE 40 RUSSIA: MILITARY SPENDING, 2010–2019 (USD BILLION) 136
TABLE 67 RUSSIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 136
TABLE 68 RUSSIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 136
TABLE 69 RUSSIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 137
TABLE 70 RUSSIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2025–2030 (USD MILLION) 137
11.4.7 ITALY 137
11.4.7.1 Increasing upgrades of existing defense equipment and introduction of new platforms expected to boost market 137
FIGURE 41 ITALY: MILITARY SPENDING, 2010–2019 (USD BILLION) 138
TABLE 71 ITALY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 138
TABLE 72 ITALY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 138
TABLE 73 ITALY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
2020-2030 (USD MILLION) 139
TABLE 74 ITALY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2025–2030 (USD MILLION) 139
11.4.8 REST OF EUROPE 139
TABLE 75 REST OF EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 139
TABLE 76 REST OF EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 140
TABLE 77 REST OF EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 140
TABLE 78 REST OF EUROPE: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–2030 (USD MILLION) 140
11.5 ASIA PACIFIC 141
11.5.1 IMPACT OF COVID-19 ON THE ASIA PACIFIC 141
11.5.2 PESTLE ANALYSIS: ASIA PACIFIC 141
FIGURE 42 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SNAPSHOT 143
TABLE 79 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY COUNTRY, 2020-2030 (USD MILLION) 144
TABLE 80 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 144
TABLE 81 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 144
TABLE 82 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 145
TABLE 83 ASIA PACIFIC: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–2030 (USD MILLION) 145
11.5.3 INDIA 145
11.5.3.1 Ongoing modernization of Indian defense to fuel market growth 145
FIGURE 43 INDIA: MILITARY SPENDING, 2010–2019 (USD BILLION) 146
TABLE 84 INDIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 146
TABLE 85 INDIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 146
TABLE 86 INDIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM,
2020-2030 (USD MILLION) 147
TABLE 87 INDIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 147
11.5.4 CHINA 147
11.5.4.1 Increasing expenditure on R&D for military equipment drives market 147
FIGURE 44 CHINA: MILITARY SPENDING, 2010–2019 (USD BILLION) 148
TABLE 88 CHINA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 148
TABLE 89 CHINA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 148
TABLE 90 CHINA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 149
TABLE 91 CHINA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 149
11.5.5 JAPAN 149
11.5.5.1 Need to strengthen combat capabilities to boost market 149
FIGURE 45 JAPAN: MILITARY SPENDING, 2010–2019 (USD BILLION) 150
TABLE 92 JAPAN: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 150
TABLE 93 JAPAN: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 150
TABLE 94 JAPAN: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 151
TABLE 95 JAPAN: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 151
11.5.6 SOUTH KOREA 151
11.5.6.1 Vision to digitally transform defense sector drives market 151
FIGURE 46 SOUTH KOREA: MILITARY SPENDING, 2010–2019 (USD BILLION) 152
TABLE 96 SOUTH KOREA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 152
TABLE 97 SOUTH KOREA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 152
TABLE 98 SOUTH KOREA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 153
TABLE 99 SOUTH KOREA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–2030 (USD MILLION) 153
11.5.7 AUSTRALIA 153
11.5.7.1 High demand for modern digital technologies in military equipment 153
FIGURE 47 AUSTRALIA: MILITARY SPENDING, 2010–2019 (USD BILLION) 154
TABLE 100 AUSTRALIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 154
TABLE 101 AUSTRALIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 154
TABLE 102 AUSTRALIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 155
TABLE 103 AUSTRALIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–2030 (USD MILLION) 155
11.6 MIDDLE EAST & AFRICA 155
11.6.1 IMPACT OF COVID-19 ON THE MIDDLE EAST & AFRICA 155
11.6.2 PESTLE ANALYSIS: MIDDLE EAST & AFRICA 156
FIGURE 48 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SNAPSHOT 157
TABLE 104 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY COUNTRY, 2020-2030 (USD MILLION) 158
TABLE 105 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 158
TABLE 106 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 158
TABLE 107 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 159
TABLE 108 MIDDLE EAST & AFRICA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 159
11.6.3 ISRAEL 159
11.6.3.1 Military modernization programs and development of capabilities of defense organizations drive market 159
FIGURE 49 ISRAEL: MILITARY SPENDING, 2010–2019 (USD BILLION) 160
TABLE 109 ISRAEL: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY PLATFORM, 2020-2030 (USD MILLION) 160
TABLE 110 ISRAEL: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY TECHNOLOGY, 2020-2030 (USD MILLION) 160
TABLE 111 ISRAEL: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 161
TABLE 112 ISRAEL: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 161
11.6.4 TURKEY 161
11.6.4.1 Focus on strengthening defense capability fuels market growth 161
FIGURE 50 TURKEY: MILITARY SPENDING, 2010–2019 (USD BILLION) 162
TABLE 113 TURKEY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 162
TABLE 114 TURKEY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 162
TABLE 115 TURKEY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY SYSTEM, 2020-2030 (USD MILLION) 163
TABLE 116 TURKEY: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE, BY OPERATION, 2020–2030 (USD MILLION) 163
11.6.5 SAUDI ARABIA 163
11.6.5.1 Procurement of military combat vehicles and armored personnel vehicles boosting growth 163
FIGURE 51 SAUDI ARABIA: MILITARY SPENDING, 2010–2019 (USD BILLION) 164
TABLE 117 SAUDI ARABIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY PLATFORM, 2020-2030 (USD MILLION) 164
TABLE 118 SAUDI ARABIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY TECHNOLOGY, 2020-2030 (USD MILLION) 164
TABLE 119 SAUDI ARABIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY SYSTEM, 2020-2030 (USD MILLION) 165
TABLE 120 SAUDI ARABIA: MILITARY VEHICLE ELECTRIFICATION MARKET SIZE,
BY OPERATION, 2020–20