Dublin, July 06, 2020 (GLOBE NEWSWIRE) — The “Global Military Ground Vehicle Propulsion System Market: Focus on Technology, Vehicle Type, Application, and Region – Analysis and Forecast, 2019-2030” report has been added to ResearchAndMarkets.com’s offering.
This report projects the market to grow at a significant CAGR of 5.89% on the basis of value during the forecast period from 2020 to 2030. The market is anticipated to reach $17.31 billion by 2030.
This growth is owing to an increase in the defense budget by various countries and rise in R&D activities through huge investments in the proposed engines. Furthermore, various Arab and African countries such as Nigeria, the U.A.E, Saudi Arabia have realized the importance of bolstering the defense sector by expanding their local capabilities through manufacturing various parts of military equipment locally as part of their purchasing contracts, further bolstering the market growth for military ground vehicle propulsion system.
Armored fighting vehicle type has witnessed an increase in demand for new propulsion systems, owing to the continuous investment by various militaries to upgrade the armored vehicles to increase the efficiency, lethality, and connectivity of the vehicles.
In addition, explosive ordnance disposal (EOD) application is expected to be the most lucrative application segment in the military ground vehicle propulsion system market, attributed to the continuous procurement of small unmanned ground vehicles with electric propulsion systems to be used for EOD in battlefields and other hostile environments.
Innovation in military ground vehicles is gradually taking shape, exploring advanced power options including hydrogen fuel cells, electric engines, and hybrid-electric engines. Civilian manufacturers and automotive engineers from defense organizations are discovering such innovative engine designs to provide additional benefits to militaries in range, reliability and fuel consumption.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including company overview, financial summary, and SWOT analysis. The overall market has been segmented on the basis of technology, vehicle type, applications, and region. The report also includes a comprehensive section on the regional analysis for North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America dominated the global military ground vehicle propulsion system with a share of 32.6% in 2019.
Some of the key players in the global military ground vehicle propulsion system market include General Dynamics, QinetiQ Group, Israel Aerospace Industries (IAI), BAE Systems, Lockheed Martin, Northrop Grumman Corporation, Oshkosh Corporation, Harris Corporation, Rheinmetall AG, Epsilor-Electric Fuel Ltd, Leonardo S.p.A, Cummins Inc, Caterpillar Inc, General Motors Company and MTU Friedrichshafen GmbH.
Key Questions Answered
- What are the trends in the global military ground vehicle propulsion system market across different regions?
- What are the major driving forces that tend to increase the demand for military ground vehicle propulsion systems during the forecast period 2020-2030?
- What are the major challenges inhibiting the growth of the global military ground vehicle propulsion system market?
- What are the major technological advancements that drive the global military ground vehicle propulsion system market growth?
- What is the average price of the military ground vehicle propulsion system by technology (hybrid, electric, conventional, plug-in-hybrid electric) in 2020, and what is it expected to be in 2025, and 2030?
- Which technology (hybrid, electric, conventional, plug-in-hybrid electric) is expected to dominate the military ground vehicle propulsion system market in the coming years?
- What is the total revenue generated in the global military ground vehicle propulsion system market by vehicle type in 2019 and what are the estimates by 2030?
- Which application of military ground vehicle propulsion system (combat support, mining, explosive ordinance disposal (EOD), intelligence, surveillance and reconnaissance (ISR), logistics and support, and others) is expected to dominate the market in the coming years?
- What was the total revenue generated by the global military ground vehicle propulsion system market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, and what are the estimates by 2030?
- Who are the key players in the global military ground vehicle propulsion system market, and what are the new strategies adopted by them to make a mark in the industry?
- What major opportunities do the military ground vehicle propulsion system companies foresee in the next five years?
- What are the major ongoing defense programs that are expected to lead to an increase in the adoption of a global military ground vehicle propulsion system in the upcoming years?
- What is the competitive strength of the key leading players in the military ground vehicle propulsion system market?
Key Topics Covered
1 Market Dynamics
1.1 Impact Analysis of Drivers and Restraints
1.2.1 Increase in Defense Budget for Strengthening Military Capability
1.2.2 Growing Demand for New Engines
1.2.3 Discontinuation of Internal Combustion Technologies in Upcoming Years
1.2.4 Growing Demand for Autonomous System in Defense
1.3 Market Restraints
1.3.1 Alteration in Dynamic Stability and Overheating
1.3.2 High Cost of Fuel Cell Electric Vehicles
1.3.3 Limited Range and Long Charging Time
1.4 Market Opportunities
1.4.1 Optionally Manned Fighting Vehicles (OMFVs) Technology Development Programme by the U.S Army
1.4.2 Modernization Plan of Defense Forces Across the Globe
1.4.3 Increasing Capital Investment for Robotic Technologies
1.4.4 Expansion of Military Capabilities in EOD Missions
2 Competitive Insights
2.1 Key Strategies and Developments
2.1.1 Partnerships, Collaborations, and Contracts
2.1.2 Product Launches
2.1.3 Other Key Developments
2.2 Competitive Benchmarking (By Vehicle Type)
2.3 Competitive Benchmarking (By Propulsion System)
3 Industry Analysis
3.1 Industry Overview
3.2 Technology Outlook for Power Sources
3.3 Advanced Diesel Technologies
3.4 Major Ongoing Defense Programs
3.5 Product Mapping Analysis
3.6 Gaps in Performance of Electric Vehicles vs. ICE Vehicles
3.7 Industrial Vs Military Technological Pathways
3.8 Propulsion Systems Pricing Trends
3.8.1 Pricing Trends by Conventional Propulsion System for the Period of 2020, 2025, 2030 ($)
3.8.2 Pricing Trends by Electric Propulsion System for the Period of 2020, 2025, 2030 ($)
3.8.3 Pricing Trends by Hybrid Propulsion System for the Period of 2020, 2025, 2030 ($)
3.8.4 Pricing Trends by Plug-in-Hybrid Electric Propulsion System for the Period of 2020, 2025, 2030 ($)
3.9 Supply Chain Analysis
3.10 Export-Import Analysis: Military Tank and Armored Vehicles
3.11 Patent Analysis
4 Global Military Ground Vehicle Propulsion System Market, 2019-2030
4.1 Assumptions and Limitations
4.2 Market Overview
5 Global Military Ground Vehicle Propulsion System Market (by Technology), 2019-2030
5.1 Market Overview
5.1.1 Conventional Propulsion System
18.104.22.168 Conventional Propulsion System (by Mode of Operation)
5.1.2 Electric Propulsion System
22.214.171.124 Electric Propulsion System (by Mode of Operation)
5.1.3 Hybrid Propulsion System
126.96.36.199 Hybrid Propulsion System (by Mode of Operation)
5.1.4 Plug-in Hybrid Electric Propulsion System
188.8.131.52 Plug-in Hybrid Electric Propulsion System (by Mode of Operation)
6 Global Military Ground Vehicle Propulsion System Market (by Vehicle Type), 2019-2030
6.1 Market Overview
6.1.1 Armored Fighting Vehicles
6.1.2 Combat Tanks
6.1.3 Self-Propelled Artillery
6.1.4 Small UGV Robots
7 Global Military Ground Vehicle Propulsion System Market (by Application), 2019-2030
7.1 Market Overview
7.1.2 Explosive Ordnance Disposal (EOD)
7.1.3 Intelligence, Surveillance and Reconnaissance (ISR)
7.1.4 Logistics and Support
7.1.5 Combat Support
8 Global Military Ground Vehicle Propulsion System Market (by Region)
8.1 Market Overview
8.2 North America
8.5 Middle East and Africa
8.6 Latin America
9 Company Profiles
9.1 BAE Systems
9.1.1 Company Overview
9.1.2 Role of BAE Systems in Global Military Ground Vehicle Propulsion System Market
9.1.4 SWOT Analysis
9.2 Cummins Inc.
9.3 Caterpillar Inc.
9.4 Epsilor-Electric Fuel Ltd.
9.5 General Dynamics
9.6 General Motors Company
9.7 Harris Corporation
9.8 Israel Aerospace Industries Ltd.
9.9 Leonardo S.p.A.
9.10 Lockheed Martin Corporation
9.11 MTU Friedrichshafen GmbH
9.12 Northrop Grumman Corporation
9.13 Oshkosh Corporation
9.14 QinetiQ Group
9.15 Rheinmetall AG
9.16 Other Key Players
9.16.1 AB Volvo
9.16.2 Achates Power, Inc.
9.16.3 Daimler AG
9.16.4 DEUTZ AG
9.16.5 ECA Group
9.16.6 Ford Motor Company
9.16.7 Navistar Inc.
9.16.8 Scania AB
9.16.9 Tata Motors Limited
9.16.10 Toyota Motor Corporation
9.16.11 Ultralife Corporation
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