PUBLISHER: The Business Research Company | PRODUCT CODE: 1754843
PUBLISHER: The Business Research Company | PRODUCT CODE: 1754843
Military power solutions are specialized systems designed to provide reliable and efficient energy to military equipment and operations across various domains, including air, land and sea. These solutions are integral to modern defense forces, ensuring that a wide array of devices-from portable communication tools to large-scale vehicles and weaponry-receive consistent power to function effectively in diverse and often challenging environments.
The military power solutions market consists of sales by entities (organizations, sole traders and partnerships) of military power solutions that utilize these power solutions during training exercises, active combat, surveillance missions and humanitarian assistance operations, among other scenarios. Complementary products include advanced energy storage systems and power management technologies, while substitute products may involve alternative energy sources like renewable energy systems adapted for military use.
The global military power solutions market was valued at $7,050.54 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 5.00%.
Integration of Renewable Energy
During the historic period, the integration of renewable energy has driven the growth of the military power solutions market. The integration of renewable energy into military power solutions is driving a transformative shift by enhancing energy security, reducing logistical burdens and improving operational efficiency. As military forces increasingly adopt solar, wind and hybrid energy systems, they achieve greater sustainability while minimizing reliance on vulnerable fuel supply chains. This transition not only strengthens battlefield resilience but also aligns with global sustainability goals, reinforcing the military's strategic and tactical capabilities in diverse operational environments. For example, according to the International Energy Agency (IEA), a France-based, in 2023, solar PV power generation saw a record increase of 320 terawatt-hour (TWh), marking a 25% rise compared to 2022. It contributed 5.4% of the world's total electricity output and remains the third-largest renewable energy source, following hydropower and wind. Therefore, the integration of renewable energy drove the growth of the military power solutions market.
Defense Contract Awarded For Tactical Power Systems
Companies operating in the military power solutions market are focusing on the strategic military power initiative for tactical power systems. The initiative ensures continuity in supply and prevents the need to rebid or negotiate new terms unless performance or requirements change. For instance, in February 2024, Cummins Power Generation, a US-based provider of power solutions for military applications, secured a firm-fixed-price, indefinite-delivery or indefinite-quantity contract worth up to $509.5 million from the U.S. Army to manufacture and supply advanced medium mobile power sources (AMMPS) systems. These generators, powered by Jet Propellant 8, will be available in multiple configurations ranging from 5 kilowatts (kW) to 60 kW to support the tactical power generation needs of the Army and other Department of Defense entities.
The global military power solutions markets is fairly fragmented, with large number of players operating in the market. The top 10 competitors in the market made up 19.32% of the total market in 2023.
Military Power Solutions Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global military power solutions market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for military power solutions? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The military power solutions market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider military power solutions market; and compares it with other markets.