Global Military Ground Vehicle Propulsion System Market: Focus on Technology, Vehicle Type, Application, and Region - Analysis and Forecast, 2019-2030

Report Highlights

Key Questions Answered in this Report:

• 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 system 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 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 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 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?

Global Military Ground Vehicle Propulsion System Market Forecast

The military ground vehicle propulsion system industry analysis by BIS Research 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. North America dominated the global military ground vehicle propulsion system with a share of 32.60% in 2019.

In North America, the U.S. acquired a major market share in 2019 owing to the massive demand for advanced military vehicles to conduct expeditionary operations with little or no warning by the U.S. armies. The U.S. government is procuring remote controlled robotic vehicles for carrying ammunitions, water and other heavy combat necessities for armed forces through squad multipurpose equipment transport (SMET) programme.

Such programmes enable the manufacturers to develop robotic and autonomous systems with hybrid and electric propulsion systems at faster pace for Army brigade combat teams (BCTs) and in turn leverage significant market share in military ground vehicle propulsion system market.

The global military ground vehicle propulsion system has gained widespread importance owing to increasing conflicts, political instability, and terrorism activities, coupled with increasing border instability which in turn force countries to strengthen their military ground vehicle capabilities. However, limited range and long charging time required by electric, hybrid-electric or plug-in hybrid electric vehicles are some of the factors that are restraining the market growth.