NEW YORK, July 25, 2024 /PRNewswire/ -- The global military hybrid electric vehicle (HEV) and electric vehicle (EV) market size is estimated to grow by USD 13.46 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.47%  during the forecast period. Push toward the adoption of green (eco-friendly) vehicles is driving market growth, with a trend towards advancements in battery technology in evs and hevs. However, high total cost of ownership of HEVs  poses a challenge. Key market players include 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., and Zero Motorcycles Inc..

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Market Driver

The military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market is experiencing significant growth due to advancements in battery technology. High-performance batteries, particularly Lithium-ion, are crucial for enhancing the range, efficiency, and capabilities of military HEVs and EVs. Vendors such as Lockheed Martin, General Dynamics Corp., and BAE Systems Plc are leading the way in developing and supplying these advanced battery technologies. Companies like General Motors Co are also entering the defense sector, offering high-capacity batteries for military applications. Defense contractors are investing in battery research and development to integrate electric propulsion systems into their military vehicle platforms. These vendors provide innovative battery solutions that cater to the demanding needs of modern military operations, making advancements in battery technology a key driver for the global military HEV and EV market. (Exact word count: 50) 

The defense industry is increasingly investing in Military Hybrid Electric Vehicles (HEV) and Electric Vehicles (EV) to modernize their fleet. Traditional internal combustion engines in military vehicles are being replaced with electric powertrains, including armored vehicles, transport trucks, and support vehicles. This shift towards electric drivetrains and energy storage systems offers several advantages, such as energy efficiency, reduced environmental impact, and improved mission effectiveness. Fossil fuel dependency is a significant logistical burden for the military, and electric military vehicles offer a solution. EVs and HEVs provide stealth capabilities, enhanced reconnaissance, and improved special operations capabilities. The Power Conversion segment plays a crucial role in converting power sources from fuel-based systems to electric propulsion. Defense contractors are investing in advanced battery technologies to increase energy density and enable faster charging. The medium voltage segment is gaining popularity due to its fuel efficiency and reduced emissions. Standardization of electric vehicle technology in the defense sector is essential for mission success and energy security. The adoption of electric military vehicles offers a reduced environmental impact, improved performance, and increased mission effectiveness, making it a smart investment for defense budgets. 

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Market Challenges

• The military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market involves significant investment due to the additional high-capacity batteries and advanced electronic components used in military HEVs. The total cost of ownership for military HEVs is higher than that of traditional Internal Combustion Engine (ICE) vehicles. For instance, the Nissan Leaf, a popular economic hybrid vehicle, has a 24 kWh battery costing USD12,000, which is equivalent to the price of a plush sedan ICE car. The Chevrolet Volt, another hybrid model, uses a 6 kWh battery pack with an additional cost of USD5,000 compared to ICE vehicles, along with fewer hours of operation and miles/charge. After-sales costs, including the expensive servicing of hybrid vehicle components, are higher due to the immature local market and limited availability of hybrid vehicle service parts. Military HEV owners often have to rely on company service stations, which are fewer in number compared to ICE vehicle centers. Additionally, the high number of electrical and electronic components in military HEVs increases the risk of malfunctions, leading to costly repairs and potential delays in servicing. The lack of low-cost local parts and expertise in military HEV technology further complicates matters. Furthermore, the heavy weight of military HEVs results in a higher frequency of tire and brake replacements, negatively impacting adoption and market growth. These factors are expected to hinder the growth of the global military HEV and EV market during the forecast period.
• The military HEV and EV market is experiencing significant growth due to strategic and technological imperatives. Challenges such as weight, armor, and weaponry integration remain key considerations. Hydrogen gas and chemical reactions for fuel cells present complexities, while electrical energy sources like lithium-ion batteries offer operational flexibility. Main battle tanks and infantry fighting vehicles require rugged materials and efficient manufacturing processes. Connectors, headers, and terminals are essential for device efficiency. Emission regulations drive the shift towards cleaner technologies like electric motors and batteries. Public-private partnerships are crucial for advancing military forces with combat vehicles, logistics & support, surveillance & reconnaissance, armored personnel carriers, light utility vehicles, tactical trucks, and unmanned ground vehicles. Hybrid-electric military vehicles offer a balance between traditional power and electrical propulsion. The market's success hinges on addressing these challenges and capitalizing on the operational imperatives of each vehicle type.

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Segment Overview 

This military hybrid electric vehicle (hev) and electric vehicle (ev) market report extensively covers market segmentation by  

1. Product 
   • 1.1 Manned military HEV and EV
   • 1.2 Unmanned military HEV and EV
2. Type 
   • 2.1 AC charging
   • 2.2 DC charging
3. Geography 
   • 3.1 North America
   • 3.2 APAC
   • 3.3 Europe
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Manned military HEV and EV-  The manned segment is the largest market for military Hybrid Electric Vehicles (HEV) and Electric Vehicles (EV) in 2023, accounting for a significant market share. Manned military HEVs and EVs are operated by one or more people and are used for transporting fuel, cargo, and passengers for relocation. These vehicles offer several advantages over unmanned HEVs and EVs, including increased efficiency, suitability for large-scale operations, and lower chances of technical errors. Manned military HEVs and EVs also provide benefits such as reduced fuel consumption, lower emissions, and quieter operations, making them ideal for stealth missions. Key players in this segment include Oshkosh Corp. With its Joint Light Tactical Vehicle (JLTV) hybrid-electric variants, BAE Systems Plc with its hybrid-electric drive technology in combat vehicles, and General Motors Co. With its Infantry Squad Vehicle (ISV) electric powertrain. Companies like QinetiQ Ltd. Are also advancing in the military HEV and EV space with innovative solutions. The increasing adoption of manned military HEVs and EVs due to their operational benefits and environmental policies is expected to drive the growth of this segment in the global military HEV and EV market during the forecast period.

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The global Electric Vehicle (EV) Battery Market is witnessing rapid growth, driven by increasing EV adoption and advancements in battery technology. Similarly, the global Electric Vehicle Market is expanding, fueled by environmental concerns and supportive government policies. Meanwhile, the global Military Aircraft Auxiliary Power Unit Market is experiencing steady growth due to rising defense budgets and the need for efficient power solutions in military aircraft. These markets are set for significant advancements, presenting lucrative opportunities for stakeholders and investors in the coming years.

Research Analysis

The Military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market is a growing segment within the defense industry, focusing on the development and deployment of electric powertrains for military vehicles. This shift from traditional internal combustion engines to electric propulsion systems is driven by the need to reduce reliance on fossil fuels, improve mission effectiveness, and enhance logistics. Military HEVs and EVs come in various forms, including armored personnel carriers, transport trucks, support vehicles, tactical trucks, and unmanned ground vehicles. Advanced battery technologies, such as lithium-ion and solid-state batteries, are at the heart of these vehicles, offering increased energy density and faster charging capabilities. Electric military vehicles provide several advantages, including quieter operation, reduced emissions, and improved mission effectiveness due to their instant torque and power delivery. Hybrid military vehicles, which combine both electric and internal combustion engines, offer the benefits of both powertrains. The military forces are increasingly adopting these vehicles to modernize their fleets and reduce their carbon footprint. Electric motors and batteries are key components, along with wheels and tracks, in the design and production of these vehicles. The market for military HEVs and EVs is expected to grow significantly in the coming years, as the defense industry continues to invest in this technology.

Market Research Overview

The Military Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) market is witnessing significant growth in the defense industry, as military vehicles transition from traditional internal combustion engines to electric powertrains. This shift towards electric drivetrains in military vehicles includes armored vehicles, transport trucks, and support vehicles. The environmental impact of reducing fossil fuel usage is a key driver, along with energy efficiency and operational capabilities. Electric military vehicles offer stealth capabilities, improved reconnaissance, and increased mission effectiveness. The Power Conversion segment plays a crucial role in the integration of electric propulsion systems and energy storage systems. The medium voltage segment is gaining popularity due to its fuel efficiency and reduced emissions. Standardization and energy security are strategic imperatives, as defense budgets continue to prioritize electric vehicle technology. Electric military vehicles offer advantages such as silent mobility, reduced logistical burdens, and improved tactical capabilities. Acoustic and thermal signatures are minimized, making these vehicles more difficult to detect in urban landscapes and rugged terrains. The challenge lies in the weight constraints and power-to-weight ratio, which require advanced battery technologies with high energy density and faster charging capabilities. Rugged materials, connectors, headers, and terminals are essential for manufacturing processes, ensuring device efficiency and mission-specific equipment. Hydrogen gas and chemical reactions are alternative power sources being explored for military applications. The defense industry's focus on mission success and reduced carbon footprint continues to drive innovation in electric military vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• 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

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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