Europe, Asia Pacific, and U.S. Military Power Supply Market to Grow at a CAGR of 4.9% to reach US$ 9,543.10 Million from 2021 to 2028
The Europe, Asia Pacific, and U.S. military power supply market is expected to grow from US$ 6,806.26 million in 2021 to US$ 9,543.10 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021–2028.
The growing demand for better military communications across different countries is aiding the growth of the military power supplies market. This can be attributed to the rising deployment of military vehicles, generating more demand for power supply equipment for various military operations. Also, higher spending on the construction of military bases and facilities (barracks, offices, hangars, runways, training grounds, test ranges, etc.) is expected to boost the demand for military power supplies across different regions.
The rising expenditure on defense electronics in different countries is another major factor in increasing demand for power systems. Most defense forces acquire specialized military vehicles such as tanks, armored cars, troop carrier vehicles, amphibious vehicles, air defense vehicles, self-propelled artillery, and armored trains. The deployment of these specialized military vehicles requires power supply modules. These vehicles need communication and other equipment for remote communications with their respective base or troops, wherein the power supply system plays a significant role. In September 2021, LIG Nex1—a defense contractor involved in the development of radar and missile guidance systems—secured a military contract to produce communication terminals for a military satellite communication system linked to ANASIS-II, a military communications satellite launched in July 2020 atop a rocket manufactured by US commercial space firm SpaceX.
Impact of COVID-19 Pandemic on Europe, Asia Pacific, and U.S. Military Power Supply Market
The US Department of Defense (DoD) played a central role in developing vaccines through Operation Warp Speed, and the president administration has made it clear that DoD will play an important, though supporting, role in getting “shots in arms.” Throughout the pandemic, the DoD has played a supporting role by deploying medical personnel to augment civilian hospitals, mobilizing national guard personnel to provide logistical support, and providing rapid contracting capabilities to tap into the civilian economy. The department has weathered the pandemic well after some initial missteps, with infection rates lower than the those in the US as a whole and much lower death rates. Military forces have figured out how to train, deploy, and operate during a pandemic.
Military personnel had an infection rate ~15% below that that of the US. The infection rate for all DoD personnel (including military, dependents, and contractors) is ~40% lower than the cumulative cases from the beginning of the pandemic. In response to these early setbacks, the military services cancelled exercises and halted the deployment of units, the transfer of personnel, and the input of new recruits into basic training (those already in training continued). However, this was not a sustainable situation.
Lucrative Regions for Military Power Supply Providers
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Europe, Asia Pacific, and U.S. Military Power Supply Market Insights
Rise in Requirement for Electronic Warfare Systems Fuels Growth of Europe, Asia Pacific, and U.S. Military Power Supply Market
The increasing emphasis on the strengthening of military forces is generating the demand for adoption of electronic warfare technologies. The governments of different countries allocate separate defense budgets for each FY worldwide. Under the allocated defense budgets, defense authorities decide the expenditure plan across multiple domains, including defense electronics. For instance, the 2021 US Department of Defense (DoD) budget includes US$ 3.17 billion for 45 different electronic warfare programs across the military service departments and various platforms in the US. Hence, the rising defense budgets across different countries is boosting investments in defense electronics technologies, which is a major factor boosting the adoption of electronic warfare systems worldwide. Moreover, the integration of commercial information technology (IT) products with legacy electronic warfare (EW) technologies is expected to rise during the FY 2021. The US electronic warfare market is estimated to reach US$ 3.6 billion by 2025 from US$ 3.17 billion in 2021.
Type -Based Market Insights
Based on type, the Europe, Asia Pacific, and U.S. military power supply market is segmented into programmable and non-programmable. In 2020, the non-programmable segment accounted for a larger market share.
Europe, Asia Pacific, and U.S. Military Power Supply Market, by Type, 2020 and 2028 (%)
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End Use-Based Market Insights
Based on end use, the Europe, Asia Pacific, and U.S. military power supply market is segmented into aerial, land, and water. In 2020, the land segment accounted for the largest market share.
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Europe, Asia Pacific, and U.S. Military Power Supply Market: Strategic Insights
Europe, Asia Pacific, and U.S. Military Power Supply Market
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CAGR (2021 - 2028)
4.9%
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Market Size 2021
US$ 6,806.26 Million
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Market Size 2028
US$ 9,543.10 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Murata Power Solutions
- Leonardo DRS
- Multisphere Power Solutions Pvt Ltd
- Powerbox
- Powerbox International AB
- intreXis AG
- POWERTRONIC Industrielle Leistungselektronik GmbH Co KG
- Vicor Corporation
- Gresham Power Electronics Limited
Regional Overview
- Europe
Market Segmentation
Type
- Programmable and Non-Programmable
System
- Discrete Power Supply and Integrated Power Supply
Power Rating
- 50 W to 300 W
- 301 W to 500 W
- 501 W to 1000 W
- 1001 W to 3000 W
- Above
End Use
- Aerial
- Land
- Water
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Europe, Asia Pacific, and U.S. Military Power Supply Market: Strategic Insights
-
CAGR (2021 - 2028)4.9% -
Market Size 2021
US$ 6,806.26 Million -
Market Size 2028
US$ 9,543.10 Million
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Murata Power Solutions
- Leonardo DRS
- Multisphere Power Solutions Pvt Ltd
- Powerbox
- Powerbox International AB
- intreXis AG
- POWERTRONIC Industrielle Leistungselektronik GmbH Co KG
- Vicor Corporation
- Gresham Power Electronics Limited
Regional Overview
- Europe
Market Segmentation
- Programmable and Non-Programmable
- Discrete Power Supply and Integrated Power Supply
- 50 W to 300 W
- 301 W to 500 W
- 501 W to 1000 W
- 1001 W to 3000 W
- Above
- Aerial
- Land
- Water
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The players operating in the Europe, Asia Pacific, and U.S. military power supply market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In June 2021, Powerbox entered into a partnership with Enercon Technologies Europe AG for developing power conversion solutions and offering customized solutions that meet customer requirements.
- In March 2021, Leonard DRS opened its new manufacturing facility in Menomonee Falls, Wisconsin, where its Naval Power segment will boost its business efforts to support the US Navy.
The Europe, Asia Pacific, and U.S. military power supply market has been segmented as mentioned below:
By Type
- Programmable
- Non-Programmable
By System
Discrete Power Supply
Integrated Power Supply
By Power Rating
50 W to 300 W
301 W to 500 W
501 W to 1000 W
1001 W to 3000 W
Above
By End Use
Aerial
Land
Water
By Offering
By Offering
AC-DC Converter
DC-DC Converter
UPS
By Geography
- US
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Netherlands
- Rest of Europe
- Asia Pacific (APAC)
- Taiwan
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Company Profiles
- Murata Power Solutions
- Leonardo DRS
- Multisphere Power Solutions Pvt. Ltd.
- Powerbox
- Powerbox International AB
- intreXis AG
- POWERTRONIC Industrielle Leistungselektronik GmbH & Co. KG
- Vicor Corporation
- Gresham Power Electronics Limited
- Denchi Group Ltd
Europe, Asia Pacific, and U.S. Military Power Supply Market Report Scope
Report Attribute | Details |
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Market size in 2021 | US$ 6,806.26 Million |
Market Size by 2028 | US$ 9,543.10 Million |
Global CAGR (2021 - 2028) | 4.9% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Type
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Regions and Countries Covered | Europe
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Market leaders and key company profiles |
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
The List of Companies - Europe, Asia Pacific, and U.S. Military Power Supply Market
- Murata Power Solutions
- Leonardo DRS
- Multisphere Power Solutions Pvt. Ltd.
- Powerbox
- Powerbox International AB
- intreXis AG
- POWERTRONIC Industrielle Leistungselektronik GmbH & Co. KG
- Vicor Corporation
- Gresham Power Electronics Limited
- Denchi Group Ltd