Authored By: Sarah
11 Jul 2024

 Military Hybrid Electric Vehicle (Hev) And Electric Vehicle (Ev) Market Size to grow by USD 13468.6 billion between 2024-2028

According to a research report “ Military Hybrid Electric Vehicle (Hev) And Electric Vehicle (Ev) Market” by Product (Manned military HEV and EV, Unmanned military HEV and EV) Type (AC charging, DC charging) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 13468.6 billion, at a CAGR of  18.47% during the forecast period. In the business world, on-road vehicles are recognized as significant contributors to air pollution, emitting substantial amounts of carbon dioxide (CO2), a potent greenhouse gas (GHG). According to environmental experts, reducing vehicular fuel consumption is crucial in mitigating the unfavorable environmental impact of these emissions. Green cars, including Electric Vehicles (EVs) and Military Hybrid Electric Vehicles (HEVs), are gaining popularity as viable solutions to combat the elevated GHG levels in the atmosphere. These vehicles operate using electricity, hybrid energy, and alternative power sources, such as solar, wind energy, or biofuels, thereby minimizing CO2 emissions and contributing to a more sustainable future.

Browse market data tables, figures, and in-depth TOC on “Military Hybrid Electric Vehicle (Hev) And Electric Vehicle (Ev) Market” by Product (Manned military HEV and EV, Unmanned military HEV and EV) Type (AC charging, DC charging) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Product, the Manned military HEV and EV segment is projected to dominate the market size in 2024

In the realm of Military Hybrid Electric Vehicles (HEV) and Electric Vehicles (EV), Alternating Current (AC) EV charging employs onboard chargers to facilitate power conversion. These converters, housed within HEV and EVs, transform AC into Direct Current (DC) for battery pack integration. AC chargers for EVs necessitate up to 22 kWh, and are commonly utilized in parking lots due to extended vehicle dwell times. Charging speed is contingent upon the charging point's output power and the converter's DC conversion capabilities. AC charging is an essential infrastructure component for EV and HEV deployment in military applications.

By Type, AC charging  segment is expected to hold the largest market size for the year 2024

In the global military HEV and EV market, manned vehicles hold the largest market share in 2023 and are projected to remain dominant throughout the forecast period. Manned military HEVs and EVs provide the advantage of human operation, enabling efficient transportation of fuel, cargo, and personnel for military relocation. Compared to unmanned vehicles, manned military HEVs and EVs offer greater command and control capabilities, making them more suitable for large-scale operations. Furthermore, the reduced likelihood of technical errors associated with manned vehicles enhances their appeal to military forces. These factors collectively contribute to the higher adoption of manned military HEVs and EVs over their unmanned counterparts.

North America is forecasted to hold the largest market size by region in 2024

The Military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market represents a significant growth opportunity for defense technology innovators. These advanced propulsion systems offer enhanced operational capabilities, including increased fuel efficiency, reduced emissions, and extended mission endurance. HEV and EV technologies are poised to revolutionize military transportation, providing a strategic advantage through improved mobility and sustainability. Companies specializing in defense technology and vehicle manufacturing are well-positioned to capitalize on this emerging trend.

The Military Hybrid Electric Vehicle (Hev) And Electric Vehicle (Ev) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AeroVironment Inc.
  • Alke s.r.l.
  • BAE Systems Plc
  • Elbit Systems Ltd.
  • Ford Motor Co.
  • General Atomics
  • General Dynamics Corp.
  • General Motors Co.
  • Honeywell International Inc.
  • L3Harris Technologies Inc.
  • Lockheed Martin Corp.
  • Logos Technologies LLC
  • Milrem AS
  • Nikola Corp.
  • Northrop Grumman Corp.
  • Oshkosh Corp.
  • QinetiQ Ltd.
  • Singapore Technologies Engineering Ltd.
  • The Boeing Co.
  • Zero Motorcycles Inc.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The military vehicle market is evolving with the integration of hybrid electric vehicles (HEV) and electric vehicles (EV) into the fleet. Unmanned ground vehicles, tactical trucks, light utility vehicles, and armored personnel carriers are among the military forces' most common vehicles, and now they are being developed with electric propulsion systems. HEVs, which use both electric motors and internal combustion engines, offer mission effectiveness with reduced fuel consumption and lower emissions. Batteries and electric motors are the backbone of these vehicles. Faster charging and higher energy density are crucial for military applications. Advanced battery technologies, such as lithium-ion and nickel-metal hydride, are being adopted to meet the demands of military logistics. Tracks and wheels are being replaced with electric powertrains, providing silent and efficient movement. The defense industry is investing in EVs, including support vehicles and transport trucks, to reduce reliance on fossil fuels and improve sustainability. Electric military vehicles offer significant advantages, such as lower maintenance costs, reduced noise, and improved performance. The future of military vehicles is electric, and the integration of HEV and EV technology will continue to shape the military landscape.

Market Research Overview

The Military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market is witnessing significant growth due to operational and technological imperatives. Military forces are increasingly adopting HEV and EVs for Surveillance & Reconnaissance, Logistics & Support, Combat & Defense, Unmanned Ground Vehicles, Tactical Trucks, Light Utility Vehicles, Armored Personnel Carriers, and more. HEVs use both electric motors and internal combustion engines, while EVs rely solely on electric motors powered by batteries. Batteries, such as Lithium-ion and hydrogen fuel cells, and electric motors are crucial components. Manufacturing processes involve rugged materials, terminals, headers, and connectors. HEVs and EVs offer operational flexibility, reduced logistics footprint, and silent mobility, making them ideal for mission-specific equipment, weaponry, and armor. Military forces seek to reduce their carbon footprint and comply with emission regulations through these technologies. Public-private partnerships and defense budgets are driving innovation in advanced battery technologies, power conversion units, and power sources. HEVs and EVs offer improved energy efficiency, faster charging, and energy density, making them essential for mission success and energy security. The market includes various segments like Tactical Capabilities, Power Conversion, and Logistics. HEVs and EVs are used in various applications, including combat vehicles, infantry fighting vehicles, main battle tanks, and support vehicles like transport trucks and armored vehicles. The Defense Industry is investing in electric military vehicles to enhance performance, reduce fuel dependency, and improve mission effectiveness.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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