Next Generation Military Power Supply Market Forecasts to 2030 - Global Analysis By Type, Component, Power Density, Mode of Operation, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Next Generation Military Power Supply Market is accounted for $13.17 billion in 2023 and is expected to reach $23.16 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Next generation military power supply refers to advanced, resilient, and efficient energy sources designed for military applications. These power supplies employ cutting-edge technologies such as high-energy-density batteries, renewable energy sources, and advanced power management systems to ensure reliable performance in diverse operational environments. They aim to minimize logistical burdens by maximizing energy efficiency and reducing the need for frequent refuelling or recharging.

According to USAFacts, the U.S. Government invested a combined total of US$ 837 bn for the military power supply in 2020.

Market Dynamics:

Driver:

Growing defense budgets globally

Growing defense budgets globally stimulate the demand for advanced military technologies, including NGMPS systems. These systems are crucial for powering modern defense equipment, such as electronic warfare systems, UAVs, and advanced communication devices. As defense spending increases, governments invest in upgrading their military capabilities. The need for reliable and efficient power supply solutions to support increasingly complex defense systems further boosts market expansion, creating opportunities for manufacturers and suppliers in the NGMPS sector.

Restraint:

Technology integration challenges

Technology integration challenges encompass issues such as interoperability, standardization, and cybersecurity concerns. Ensuring seamless integration of advanced power supply systems with diverse military equipment and platforms demands rigorous testing, validation, and adaptation processes, often leading to delays and increased costs. Failure to overcome these obstacles can impede the market's growth by limiting the effectiveness and reliability of military power supply solutions in modern warfare scenarios.

Opportunity:

Rising trend towards electrification & hybridization of military platforms

The rising trend towards electrification and hybridization of military platforms is driving the demand for advanced power supply solutions. These modern military platforms require reliable, efficient, and adaptable power sources to support increasingly sophisticated electronic systems and weaponry. Next-generation power supply technologies offer enhanced performance, resilience, and versatility, addressing the evolving needs of electrified and hybrid military platforms. Consequently, this trend is fueling the growth of the market as defense organizations seek cutting-edge solutions to meet their power requirements.

Threat:

Cybersecurity concerns

Cybersecurity concerns in next generation military power supply include vulnerabilities in communication protocols, susceptibility to hacking, and potential for remote tampering. These threats jeopardize the integrity and reliability of critical power systems, potentially leading to disruptions in military operations, data breaches, or even sabotage. The fear of cyber attacks can deter military organizations from adopting advanced power supply solutions, slowing down market growth.

Covid-19 Impact

The covid-19 pandemic has influenced the next generation military power supply market by disrupting supply chains, delaying production schedules, and impacting demand due to budgetary constraints in defense spending. However, the crisis has also highlighted the importance of resilient and adaptable power solutions, driving increased investment in innovative technologies that enhance operational efficiency, reliability, and remote capabilities. Overall, the pandemic has accelerated the adoption of advanced power supply systems in military applications.

The rotary segment is expected to be the largest during the forecast period

The rotary segment is estimated to have a lucrative growth. These systems offer advantages like high power density, reliability, and suitability for demanding environments. They are adept at handling rapid changes in power demand, ensuring continuous power supply during mission-critical operations. Rotary designs have enhanced efficiency and durability, which makes them indispensable components in modern military infrastructure.

The radar systems segment is expected to have the highest CAGR during the forecast period

The radar systems segment is anticipated to witness the highest CAGR growth during the forecast period, due to its reliable and efficient power management in demanding environments. These power supplies ensure stable and uninterrupted operation of radar systems critical for surveillance, tracking, and target acquisition in various defense scenarios. Designed with advanced technology and ruggedized features, they offer high power density, resistance to electromagnetic interference, and temperature extremes.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing defense budgets and modernization efforts among key nations such as China, India, South Korea, and Japan. These countries are actively investing in advanced power supply technologies to enhance the performance and reliability of their defense systems. Factors such as the growing demand for portable and ruggedized power solutions, coupled with the need for energy-efficient and resilient power sources, are fueling market growth in the region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increasing adoption of electric and hybrid-electric platforms. The United States, being a major contributor to defense spending, is driving expansion through investments in cutting-edge power supply technologies for military applications. Additionally, the growing emphasis on energy efficiency, reduced operational costs, and improved reliability is fostering the demand for advanced power solutions across the region. This trend is further supported by collaborations between government agencies, defense contractors, and technology firms to innovate and deliver next-generation power supply systems.

Key players in the market

Some of the key players profiled in the Next Generation Military Power Supply Market include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, BAE Systems PLC, General Dynamics Corporation, L3Harris Technologies Inc., SynQor Inc., Thales Group, Curtiss-Wright Corporation, Cobham PLC, Teledyne Technologies Incorporated, Elbit Systems Limited, Eaton Corporation, GAIA Converter, XP Power Limited, Safran SA and Vicor Corporation.

Key Developments:

In July 2023, GAIA Converter, a French company, released a fully integrated 60W DC-DC front-end module that simplifies the design of military power converter architectures. This module is space-efficient and reliable, making it suitable for military applications. It also simplifies the implementation process for power system designers, potentially reducing time and design complexities.

In May 2022, SynQor Inc. unveiled UPS-1250, a military-grade, high-voltage DC adjustable output Uninterruptible Power Supply (UPS). The UPS is designed to meet a wide range of military standards and to provide robust power capabilities in demanding environments.

Types Covered:

• Uninterruptible Power Supplies (UPS)
• External Power Supplies
• Frequency Converters
• Inverters
• Other Types

Components Covered:

• Transformers
• Capacitors
• Resistors
• Inductors
• Semiconductor Devices
• Other Components

Power Densities Covered:

• High Power Density Power Supplies
• Medium Power Density Power Supplies
• Low Power Density Power Supplies

Mode of Operations Covered:

• Standby Power Supplies
• Line-interactive Power Supplies
• Online Power Supplies

Technologies Covered:

• Solid State
• Rotary
• Hybrid

Applications Covered:

• Ground Vehicles
• Naval Systems
• Aircraft
• Unmanned Aerial Vehicles
• Radar Systems
• Missile Systems
• Electronic Warfare Systems
• Other Applications

End Users Covered:

• Government
• Defense Contractors
• Research Institutes
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances