Market Overview

The Electric Military Vehicles market is predicted to develop at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2034, when it is projected to reach USD 23,000.54 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 7,024.74 Million in 2024.

SOURCE: We Market Research

Electric military vehicles are vehicles used by military forces that utilize electric propulsion systems for power rather than traditional internal combustion engines. These vehicles leverage electric motors powered by batteries, fuel cells, or a combination of both to drive their wheels or tracks.

The global electric military vehicles market was showing promising growth, driven by several factors including increasing concerns about energy security, environmental sustainability, and advancements in electric vehicle technology. While I can't provide real-time statistics beyond that point, I can give you an overview of the market trends up to that time.

The global electric military vehicles market is expected to continue growing in the coming years, driven by technological advancements, government initiatives, and increasing demand for cleaner and more efficient military transport solutions. As militaries worldwide seek to modernize their fleets and reduce their environmental footprint, electric propulsion is likely to play an increasingly important role in the defense industry.

Market Scope

Electric Military Vehicles Industry: Dynamics & Restrains

 We Market Research: Electric Military Vehicles Dashboard

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Electric Military Vehicles Segmentation

Market- By Vehicle Type Analysis

By Vehicle Type, the Electric Military Vehicles Market is Categories into Armored Personnel Carriers (APCs), Infantry Fighting Vehicles (IFVs), Light Utility Vehicles (LUVs), Tactical Trucks, Unmanned Ground Vehicles (UGVs) and Others. The Armored Personnel Carriers segment accounts for the largest share of around 29% in 2024. Armored personnel carriers are likely to hold a significant share of the electric military vehicles market, given their importance in troop transport and protection. Electric APCs offer advantages such as reduced acoustic signatures, improved fuel efficiency, and lower lifecycle costs compared to conventional APCs.

The following segments are part of an in-depth analysis of the global Electric Military Vehicles market:

Electric Military Vehicles Industry: Regional Analysis

North America Market Forecast

North America dominate the Electric Military Vehicles Market with the highest revenue generating market with share of more than 43%. The United States, with its significant defense budget and focus on technological innovation, has been at the forefront of electric military vehicle development. The U.S. Army, in particular, has been investing in electric and hybrid-electric vehicle programs to enhance operational capabilities and reduce logistical burdens.

Europe Market Statistics

Europe is another key region for the electric military vehicles market, characterized by a strong industrial base, multinational defense cooperation, and a focus on sustainability. European countries such as the United Kingdom, France, Germany, and Sweden invest in electric military vehicles to modernize their armed forces, reduce carbon emissions, and comply with regulatory standards.

Asia Pacific Market Forecasts

The Asia Pacific region presents significant growth opportunities for the electric military vehicles market, driven by rising defense spending, geopolitical tensions, and technological advancements. Countries such as China, India, Japan, South Korea, and Australia invest in electric military vehicles to enhance their military capabilities, improve operational efficiency, and address security challenges in the region.

Key Market Players

The Electric Military Vehicles Market is dominated by a few large companies, such as

·         BAE Systems plc

·         General Dynamics Corporation

·         Rheinmetall AG

·         Oshkosh Corporation

·         Lockheed Martin Corporation

·         Rheinmetall AG

·         Northrop Grumman Corporation

·         Thales Group

·         Leonardo S.p.A.

·         Raytheon Technologies Corporation

·         SAIC Motor Corporation Limited

·         Navistar International Corporation

·         Elbit Systems Ltd.

·         Hanwha Corporation

·         CNH Industrial N.V.

·         Other

1.      Global Radar System Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Radar System Market Scope and Market Estimation

1.2.1. Global Radar System Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2024 - 2034)

1.2.2. Global Radar System Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034

1.3.    Market Segmentation

1.3.1. Vehicle Type of Global Radar System Market

1.3.2. Propulsion Type of Global Radar System Market

1.3.3. Application of Global Radar System Market

1.3.4. Region of Global Radar System Market

2.      Executive Summary

2.1.    Global Radar System Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Radar System Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Radar System Market Estimates & Historical Trend Analysis (2019 - 2023)

4.      Global Radar System Market Estimates & Forecast Trend Analysis, by Vehicle Type

4.1.    Global Radar System Market Revenue (US$ Mn) Estimates and Forecasts, by Vehicle Type, 2019 - 2034

4.1.1. Armored Personnel Carriers (APCs)

4.1.2. Infantry Fighting Vehicles (IFVs)

4.1.3. Light Utility Vehicles (LUVs)

4.1.4. Tactical Trucks

4.1.5. Unmanned Ground Vehicles (UGVs)

4.1.6. Others

5.      Global Radar System Market Estimates & Forecast Trend Analysis, by Platform

5.1.    Global Radar System Market Revenue (US$ Mn) Estimates and Forecasts, by Propulsion Type, 2019 - 2034

5.1.1. Battery Electric Vehicles (BEVs)

5.1.2. Hybrid Electric Vehicles (HEVs)

5.1.3. Plug-In Hybrid Electric Vehicles (PHEVs)

5.1.4. Fuel Cell Electric Vehicles (FCEVs)

6.      Global Radar System Market Estimates & Forecast Trend Analysis, by Application

6.1.    Global Radar System Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 - 2034

6.1.1. Combat & Defense

6.1.2. Logistics & Support

6.1.3. Surveillance & Reconnaissance

6.1.4. Others

7.      Global Radar System Market Estimates & Forecast Trend Analysis, by Region

7.1.    Global Radar System Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 - 2034

7.1.1. North America

7.1.2. Europe

7.1.3. Asia Pacific

7.1.4. Middle East & Africa

7.1.5. South America

8.      North America Radar System Market: Estimates & Forecast Trend Analysis

8.1.    North America Radar System Market Assessments & Key Findings

8.1.1. North America Radar System Market Introduction

8.1.2. North America Radar System Market Size Estimates and Forecast (US$ Million) (2019 - 2034)

8.1.2.1.   By Vehicle Type

8.1.2.2.   By Propulsion Type

8.1.2.3.   By Application

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.      Europe Radar System Market: Estimates & Forecast Trend Analysis

9.1.    Europe Radar System Market Assessments & Key Findings

9.1.1. Europe Radar System Market Introduction

9.1.2. Europe Radar System Market Size Estimates and Forecast (US$ Million) (2019 - 2034)

9.1.2.1.   By Vehicle Type

9.1.2.2.   By Propulsion Type

9.1.2.3.   By Application

9.1.2.4.        By Country

9.1.2.4.1.     Germany

9.1.2.4.2.     U.K.

9.1.2.4.3.     France

9.1.2.4.4.     Italy

9.1.2.4.5.     Spain

9.1.2.4.6.     Russia

9.1.2.4.7.     Rest of Europe

10.  Asia Pacific Radar System Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.   Asia Pacific Radar System Market Introduction

10.1.2.   Asia Pacific Radar System Market Size Estimates and Forecast (US$ Million) (2019 - 2034)

10.1.2.1.    By Vehicle Type

10.1.2.2.    By Propulsion Type

10.1.2.3.    By Application

10.1.2.4.    By Country

10.1.2.4.1. China

10.1.2.4.2. Japan

10.1.2.4.3. India

10.1.2.4.4. Australia

10.1.2.4.5. South Korea

10.1.2.4.6. ASEAN

10.1.2.4.7. Rest of Asia Pacific

11.  Middle East & Africa Radar System Market: Estimates & Forecast Trend Analysis

11.1.  Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Radar System Market Introduction

11.1.2.   Middle East & Africa Radar System Market Size Estimates and Forecast (US$ Million) (2019 - 2034)

11.1.2.1.    By Vehicle Type

11.1.2.2.    By Propulsion Type

11.1.2.3.    By Application

11.1.2.4.    By Country

11.1.2.4.1. U.A.E.

11.1.2.4.2. Saudi Arabia

11.1.2.4.3. Egypt

11.1.2.4.4. South Africa

11.1.2.4.5. Rest of Middle East & Africa

12.  South America Radar System Market: Estimates & Forecast Trend Analysis

12.1.  South America Market Assessments & Key Findings

12.1.1.   South America Radar System Market Introduction

12.1.2.   South America Radar System Market Size Estimates and Forecast (US$ Million) (2019 - 2034)

12.1.2.1.    By Vehicle Type

12.1.2.2.    By Propulsion Type

12.1.2.3.    By Application

12.1.2.4.    By Country

12.1.2.4.1. Brazil

12.1.2.4.2. Argentina

12.1.2.4.3. Colombia

12.1.2.4.4. Rest of South America

13.  Competition Landscape

13.1.  Global Radar System Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2.  Global Radar System Market Competition White Space Analysis, By End-user

13.3.  Global Radar System Market Competition Heat Map Analysis, By End-user

13.4.  Global Radar System Market Concentration & Company Market Shares (%) Analysis, 2023

14.  Company Profiles

14.1.                     BAE Systems

14.1.1.   Company Overview & Key Stats

14.1.2.   Financial Performance & KPIs

14.1.3.   Product Portfolio

14.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.      General Dynamics

14.3.      Rheinmetall AG

14.4.      Oshkosh Corporation

14.5.      Lockheed Martin Corporation

14.6.      Thales Group

14.7.      Northrop Grumman Corporation

14.8.      Leonardo S.p.A.

14.9.      Raytheon Technologies Corporation

14.10.  SAIC Motor Corporation Limited

14.11.  Navistar International Corporation

14.12.  Elbit Systems Ltd.

14.13.  Hanwha Corporation

14.14.  CNH Industrial N.V.

14.15.  Textron Inc.

14.16.  Others

15.  Research Methodology

15.1.  External Transportations / Databases

15.2.  Internal Proprietary Database

15.3.  Primary Research

15.4.  Secondary Research

15.5.  Assumptions

15.6.  Limitations

15.7.  Report FAQs

16.  Research Findings & Conclusion