Military Electric Vehicles Market Top Key Players - Thales Group, Boeing Company, L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies, General Atomics, Elbit Systems
Unlike cars with internal combustion engines, electric vehicles are characterized by great versatility. This is due to the lack of complex mechanical systems required to operate a traditional vehicle. The engine is the only element that moves in an electric vehicle. Different control systems and approaches can be used to regulate this. In order for the engine to function, it needs a power source that can come from different locations. They can be located anywhere in the vehicle as long as the electrical cables connecting them are intact.
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GLOBAL MILITARY ELECTRIC VEHICLES MARKET DYNAMICS
• Research and development of military equipment Due to the current situation and the reduction of national defense budgets, further development of electrification may be difficult. Due to import and export regulations, the industry faced operational and ongoing challenges. The COVID19 epidemic is currently a global health problem and a serious problem in many countries. Military vehicles with a large amount of electronics require a large amount of electricity and it is predicted that this will severely limit the battery capacity as the capacity decreases as the discharge rate increases.
• The expansion of the military equipment electrification market in the Asia-Pacific region is largely due to the increase in spending by major economies in the region on the purchase of military equipment. Rising geopolitical tensions and rising defense spending may also increase the demand for the electrification of military equipment in the region. The main drivers of this technology are government subsidies, heavy spending on fuel cell development, and a focus on delivering clean energy and environmentally friendly solutions.
GLOBAL MILITARY ELECTRIC VEHICLES MARKET SEGMENTATION
The Global Military Electric Vehicles Market can be segmented into following categories for further analysis.
By Technology Type
• Standard Technology
• Powered Technology
• Heated Technology
• Heated and Memory Technology
By Battery Type
• Lithium Nickel Manganese Cobalt (LI-NMC)
• Lithium Iron Phosphate (LFP)
• Lithium Cobalt Oxide (LCO)
• Lithium Titanate Oxide (LTO)
• Lithium Manganese Oxide (LMO)
• Lithium Nickel Cobalt Aluminium Oxide (NCA)
By Usage Application
• Land Based
• Naval Based
By System Type
• Homeland Security Operations
• Military Operations
• Mixed Operations
By Product Component Type
• Lethal Weapons
• Non-Lethal Weapons
By Regional Classification
• Asia Pacific Region – APAC
• Middle East and Gulf Region
• Africa Region
• North America Region
• Europe Region
• Latin America and Caribbean Region
RECENT MARKET TECHNOLOGICAL TRENDS IN GLOBAL MILITARY ELECTRIC VEHICLES MARKET
• From the very beginning of the automotive era, the internal combustion engine was the dominant technology. Electric vehicles have a bright future ahead of them due to the limited supply of fossil fuels and the associated environmental problems. Vehicle electrification has increased significantly in the commercial sector, but mileage and toll remain an issue, especially for the military vehicle platform. Extend the life of batteries, chargers and the chargers themselves.
• Since electric vehicles are much quieter than internal combustion engines such as diesels, they will be harder to spot on the battlefield. As a result, the JLTV can serve as an excellent reconnaissance vehicle, capable of discreetly observing enemy front lines while remaining undetected. Most of these vehicles are designed, manufactured and purchased in the United States, but distinctive designs are discussed, including for dual civilian and military use, which often go beyond what is initially feasible for civilian use.
• Thales Group
• Boeing Company
• L3Harris Technologies
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Technologies
• Directed Energy Technologies Inc.
• General Atomics
• Elbit Systems
• Honeywell Systems and Manufacturing Inc.
• QinetiQ Group PLC
• General Motors
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