Military Power Solutions Market Size (2024 - 2029)

Military Power Solutions Market Analysis

The Military Power Solutions Market size is estimated at USD 7.77 billion in 2024, and is expected to reach USD 11.28 billion by 2029, growing at a CAGR of 7.75% during the forecast period (2024-2029).

The gradual but steady increase in the defense expenditure of the global armed forces has driven the procurement of several military platforms, such as armored vehicles, aircraft, and naval vessels, to strengthen their military capabilities. These platforms are designed to integrate several subsystems and equipment, all powered by one or more power solutions, thereby creating a parallel demand for military power solutions that drive the market's growth. Moreover, the increasing deployment of military units in far-away war zones also increases the need for various types of mobile military power solutions like transportable generators, thereby driving the market's growth.

On the other hand, militaries must operate their equipment in harsh environmental conditions, which may cause power solutions to malfunction. Certain battery technologies also require squibs (pyrotechnic charges) or gas generators for start-up, thermal insulation to protect against internal heat, and heating elements to ensure reliable operation at low temperatures. Hence, the military-grade requirements are generally strict, which will further challenge the entry and growth of the players.

Military Power Solutions Industry Segmentation

A power supply source, often referred to simply as a "power supply," is an electronic device or system that converts electrical energy from a source, typically the electrical grid, fuel cell, or battery, into a form compatible with the requirements of the connected equipment. The global armed forces use military power solutions to power their equipment and satiate their power needs, whether for soldiers, armored vehicles, or military bases.

The military power solutions market is segmented based on type, source, platform, and geography. By type, the market is segmented into portable and non-portable. By source, the market is classified into batteries, generators, and other sources. The other sources include solar power, fuel cells, and hybrid power solutions. The market is segmented by platform into land, air, and sea. The report also covers the market sizes and forecasts for the military power solutions market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).