Market Size of Military Power Solutions Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.77 Billion |
| Market Size (2029) | USD 11.28 Billion |
| CAGR (2024 - 2029) | 7.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
