Military Vehicle Electrification Market Size - Growth, Share by 2031
The Military Vehicle Electrification Market is expected to register a CAGR of 23.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Technology (Hybrid, Fully Electric). The report further presents analysis based on the Platform (Combat Vehicles, Support Vehicles, Unmanned Armored Vehicles). The report further presents analysis based on the System (Power Generation, Cooling Systems, Energy Storage, Traction Drive Systems, Power Conversion). The report further presents analysis based on the Operation (Manned, Autonomous/Semi-autonomous). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Military Vehicle Electrification Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Military Vehicle Electrification Market Segmentation
Technology- Hybrid
- Fully Electric
- Combat Vehicles
- Support Vehicles
- Unmanned Armored Vehicles
- Power Generation
- Cooling Systems
- Energy Storage
- Traction Drive Systems
- Power Conversion
- Manned
- Autonomous/Semi-autonomous
- Manned
- Autonomous/Semi-autonomous
Strategic Insights
Military Vehicle Electrification Market Growth Drivers- Environmental and Operational Efficiency Goals: As military forces increasingly focus on reducing their environmental footprint, the electrification of military vehicles is gaining traction. Electric vehicles (EVs) offer reduced fuel consumption, lower carbon emissions, and quieter operations compared to traditional combustion engine vehicles, which are crucial in stealth operations. Additionally, electrified military vehicles can support efficient energy usage, lower operational costs, and reduce logistics requirements by minimizing the need for fuel resupply. As governments emphasize sustainability and energy efficiency in defense operations, the demand for military vehicle electrification is accelerating, driving market growth.
- Advancements in Battery and Charging Technologies: The continued advancement of battery technologies, such as solid-state batteries and high-density lithium-ion batteries, is one of the key drivers behind the military vehicle electrification market. These innovations are improving the range, power output, and energy storage capabilities of electric military vehicles. Additionally, advancements in fast-charging infrastructure and wireless charging systems are enabling quicker deployment and reduced downtime for electrified vehicles in the field. With these technological improvements, electric military vehicles are becoming more viable for tactical operations, further fueling market expansion.
- Integration of Hybrid Powertrains for Enhanced Performance: Hybrid powertrains, combining both electric and traditional internal combustion engine (ICE) technologies, are increasingly being integrated into military vehicles. Hybrid systems offer the advantages of electric propulsion for silent and energy-efficient operation in specific scenarios, while providing the power and range benefits of traditional engines for high-performance and extended operations. This trend allows militaries to adapt their vehicles to diverse mission needs, improving flexibility and reducing dependency on fuel. The growing adoption of hybrid systems in military vehicles is a significant trend, expanding the electrification market.
- Focus on Autonomous and Electric Combat Vehicles: There is a rising trend toward the development of autonomous electric combat vehicles (AECVs) that offer enhanced operational capabilities, including reduced crew requirements and improved maneuverability. Electric propulsion allows for quieter, more discreet movement in tactical scenarios, while autonomy can increase efficiency and reduce human error. With the military investing in futuristic, unmanned, and autonomous systems, electric vehicle platforms are being adapted for use in combat, reconnaissance, and logistics, driving further innovation and growth in the military vehicle electrification market.
- Shift Towards Silent and Stealth Operations: Electrified military vehicles offer a significant opportunity to enhance stealth and covert operations, as electric propulsion produces much less noise compared to traditional combustion engines. This capability is particularly valuable in reconnaissance missions, special operations, and urban warfare, where noise reduction is crucial for maintaining the element of surprise. As defense forces continue to prioritize stealth and low-visibility operations, the demand for electric and hybrid electric military vehicles is set to grow, providing a key opportunity for market expansion.
- Increasing Investment in Military Modernization Programs: Many countries are heavily investing in military modernization programs, which include upgrading their vehicle fleets to meet new operational requirements. Electrification is a core element of these modernization initiatives, with militaries seeking more sustainable, cost-effective, and technologically advanced solutions for troop transport, armored vehicles, and logistics. As these investments increase, the market for military vehicle electrification is expected to expand, creating significant opportunities for manufacturers specializing in electric and hybrid military vehicle technologies, as well as the associated infrastructure.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Military Vehicle Electrification Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Military Vehicle Electrification Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the Military Vehicle Electrification Market include Arquus, BAE Systems plc, General Dynamics Corporation, Leonardo S.p.A., Textron Inc, General Motors Company, Nikola Corporation, Qinetiq Group Plc, Nexter group, Krauss-Maffei Wegmann GmbH and Co. KG
Rise in emergence of hybrid and fully electric platform is the key future trend of the Military Vehicle Electrification Market
The Military Vehicle Electrification Market is estimated to witness a CAGR of 23.5% from 2023 to 2031
The major factors driving the Military Vehicle Electrification Market are: Demand for Higher Operational Efficiency and Sustainability and Environmental Regulations
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Military Vehicle Electrification Market - By Technology
1.3.2 Military Vehicle Electrification Market - By Platform
1.3.3 Military Vehicle Electrification Market - By System
1.3.4 Military Vehicle Electrification Market - By Operation
1.3.5 Military Vehicle Electrification Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MILITARY VEHICLE ELECTRIFICATION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. MILITARY VEHICLE ELECTRIFICATION MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MILITARY VEHICLE ELECTRIFICATION MARKET - GLOBAL MARKET ANALYSIS
6.1. MILITARY VEHICLE ELECTRIFICATION - GLOBAL MARKET OVERVIEW
6.2. MILITARY VEHICLE ELECTRIFICATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MILITARY VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. HYBRID
7.3.1. Overview
7.3.2. Hybrid Market Forecast and Analysis
7.4. FULLY ELECTRIC
7.4.1. Overview
7.4.2. Fully Electric Market Forecast and Analysis
8. MILITARY VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - PLATFORM
8.1. OVERVIEW
8.2. PLATFORM MARKET FORECASTS AND ANALYSIS
8.3. COMBAT VEHICLES
8.3.1. Overview
8.3.2. Combat Vehicles Market Forecast and Analysis
8.4. SUPPORT VEHICLES
8.4.1. Overview
8.4.2. Support Vehicles Market Forecast and Analysis
8.5. UNMANNED ARMORED VEHICLES
8.5.1. Overview
8.5.2. Unmanned Armored Vehicles Market Forecast and Analysis
9. MILITARY VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - SYSTEM
9.1. OVERVIEW
9.2. SYSTEM MARKET FORECASTS AND ANALYSIS
9.3. POWER GENERATION
9.3.1. Overview
9.3.2. Power Generation Market Forecast and Analysis
9.4. COOLING SYSTEMS
9.4.1. Overview
9.4.2. Cooling Systems Market Forecast and Analysis
9.5. ENERGY STORAGE
9.5.1. Overview
9.5.2. Energy Storage Market Forecast and Analysis
9.6. TRACTION DRIVE SYSTEMS
9.6.1. Overview
9.6.2. Traction Drive Systems Market Forecast and Analysis
9.7. POWER CONVERSION
9.7.1. Overview
9.7.2. Power Conversion Market Forecast and Analysis
10. MILITARY VEHICLE ELECTRIFICATION MARKET - REVENUE AND FORECASTS TO 2028 - OPERATION
10.1. OVERVIEW
10.2. OPERATION MARKET FORECASTS AND ANALYSIS
10.3. MANNED
10.3.1. Overview
10.3.2. Manned Market Forecast and Analysis
10.4. AUTONOMOUS/SEMI-AUTONOMOUS
10.4.1. Overview
10.4.2. Autonomous/semi-autonomous Market Forecast and Analysis
11. MILITARY VEHICLE ELECTRIFICATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Military Vehicle Electrification Market Overview
11.1.2 North America Military Vehicle Electrification Market Forecasts and Analysis
11.1.3 North America Military Vehicle Electrification Market Forecasts and Analysis - By Technology
11.1.4 North America Military Vehicle Electrification Market Forecasts and Analysis - By Platform
11.1.5 North America Military Vehicle Electrification Market Forecasts and Analysis - By System
11.1.6 North America Military Vehicle Electrification Market Forecasts and Analysis - By Operation
11.1.7 North America Military Vehicle Electrification Market Forecasts and Analysis - By Countries
11.1.7.1 United States Military Vehicle Electrification Market
11.1.7.1.1 United States Military Vehicle Electrification Market by Technology
11.1.7.1.2 United States Military Vehicle Electrification Market by Platform
11.1.7.1.3 United States Military Vehicle Electrification Market by System
11.1.7.1.4 United States Military Vehicle Electrification Market by Operation
11.1.7.2 Canada Military Vehicle Electrification Market
11.1.7.2.1 Canada Military Vehicle Electrification Market by Technology
11.1.7.2.2 Canada Military Vehicle Electrification Market by Platform
11.1.7.2.3 Canada Military Vehicle Electrification Market by System
11.1.7.2.4 Canada Military Vehicle Electrification Market by Operation
11.1.7.3 Mexico Military Vehicle Electrification Market
11.1.7.3.1 Mexico Military Vehicle Electrification Market by Technology
11.1.7.3.2 Mexico Military Vehicle Electrification Market by Platform
11.1.7.3.3 Mexico Military Vehicle Electrification Market by System
11.1.7.3.4 Mexico Military Vehicle Electrification Market by Operation
11.2. EUROPE
11.2.1 Europe Military Vehicle Electrification Market Overview
11.2.2 Europe Military Vehicle Electrification Market Forecasts and Analysis
11.2.3 Europe Military Vehicle Electrification Market Forecasts and Analysis - By Technology
11.2.4 Europe Military Vehicle Electrification Market Forecasts and Analysis - By Platform
11.2.5 Europe Military Vehicle Electrification Market Forecasts and Analysis - By System
11.2.6 Europe Military Vehicle Electrification Market Forecasts and Analysis - By Operation
11.2.7 Europe Military Vehicle Electrification Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Military Vehicle Electrification Market
11.2.7.1.1 Germany Military Vehicle Electrification Market by Technology
11.2.7.1.2 Germany Military Vehicle Electrification Market by Platform
11.2.7.1.3 Germany Military Vehicle Electrification Market by System
11.2.7.1.4 Germany Military Vehicle Electrification Market by Operation
11.2.7.2 France Military Vehicle Electrification Market
11.2.7.2.1 France Military Vehicle Electrification Market by Technology
11.2.7.2.2 France Military Vehicle Electrification Market by Platform
11.2.7.2.3 France Military Vehicle Electrification Market by System
11.2.7.2.4 France Military Vehicle Electrification Market by Operation
11.2.7.3 Italy Military Vehicle Electrification Market
11.2.7.3.1 Italy Military Vehicle Electrification Market by Technology
11.2.7.3.2 Italy Military Vehicle Electrification Market by Platform
11.2.7.3.3 Italy Military Vehicle Electrification Market by System
11.2.7.3.4 Italy Military Vehicle Electrification Market by Operation
11.2.7.4 United Kingdom Military Vehicle Electrification Market
11.2.7.4.1 United Kingdom Military Vehicle Electrification Market by Technology
11.2.7.4.2 United Kingdom Military Vehicle Electrification Market by Platform
11.2.7.4.3 United Kingdom Military Vehicle Electrification Market by System
11.2.7.4.4 United Kingdom Military Vehicle Electrification Market by Operation
11.2.7.5 Russia Military Vehicle Electrification Market
11.2.7.5.1 Russia Military Vehicle Electrification Market by Technology
11.2.7.5.2 Russia Military Vehicle Electrification Market by Platform
11.2.7.5.3 Russia Military Vehicle Electrification Market by System
11.2.7.5.4 Russia Military Vehicle Electrification Market by Operation
11.2.7.6 Rest of Europe Military Vehicle Electrification Market
11.2.7.6.1 Rest of Europe Military Vehicle Electrification Market by Technology
11.2.7.6.2 Rest of Europe Military Vehicle Electrification Market by Platform
11.2.7.6.3 Rest of Europe Military Vehicle Electrification Market by System
11.2.7.6.4 Rest of Europe Military Vehicle Electrification Market by Operation
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Military Vehicle Electrification Market Overview
11.3.2 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis
11.3.3 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis - By Technology
11.3.4 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis - By Platform
11.3.5 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis - By System
11.3.6 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis - By Operation
11.3.7 Asia-Pacific Military Vehicle Electrification Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Military Vehicle Electrification Market
11.3.7.1.1 Australia Military Vehicle Electrification Market by Technology
11.3.7.1.2 Australia Military Vehicle Electrification Market by Platform
11.3.7.1.3 Australia Military Vehicle Electrification Market by System
11.3.7.1.4 Australia Military Vehicle Electrification Market by Operation
11.3.7.2 China Military Vehicle Electrification Market
11.3.7.2.1 China Military Vehicle Electrification Market by Technology
11.3.7.2.2 China Military Vehicle Electrification Market by Platform
11.3.7.2.3 China Military Vehicle Electrification Market by System
11.3.7.2.4 China Military Vehicle Electrification Market by Operation
11.3.7.3 India Military Vehicle Electrification Market
11.3.7.3.1 India Military Vehicle Electrification Market by Technology
11.3.7.3.2 India Military Vehicle Electrification Market by Platform
11.3.7.3.3 India Military Vehicle Electrification Market by System
11.3.7.3.4 India Military Vehicle Electrification Market by Operation
11.3.7.4 Japan Military Vehicle Electrification Market
11.3.7.4.1 Japan Military Vehicle Electrification Market by Technology
11.3.7.4.2 Japan Military Vehicle Electrification Market by Platform
11.3.7.4.3 Japan Military Vehicle Electrification Market by System
11.3.7.4.4 Japan Military Vehicle Electrification Market by Operation
11.3.7.5 South Korea Military Vehicle Electrification Market
11.3.7.5.1 South Korea Military Vehicle Electrification Market by Technology
11.3.7.5.2 South Korea Military Vehicle Electrification Market by Platform
11.3.7.5.3 South Korea Military Vehicle Electrification Market by System
11.3.7.5.4 South Korea Military Vehicle Electrification Market by Operation
11.3.7.6 Rest of Asia-Pacific Military Vehicle Electrification Market
11.3.7.6.1 Rest of Asia-Pacific Military Vehicle Electrification Market by Technology
11.3.7.6.2 Rest of Asia-Pacific Military Vehicle Electrification Market by Platform
11.3.7.6.3 Rest of Asia-Pacific Military Vehicle Electrification Market by System
11.3.7.6.4 Rest of Asia-Pacific Military Vehicle Electrification Market by Operation
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Military Vehicle Electrification Market Overview
11.4.2 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis
11.4.3 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis - By Technology
11.4.4 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis - By Platform
11.4.5 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis - By System
11.4.6 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis - By Operation
11.4.7 Middle East and Africa Military Vehicle Electrification Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Military Vehicle Electrification Market
11.4.7.1.1 South Africa Military Vehicle Electrification Market by Technology
11.4.7.1.2 South Africa Military Vehicle Electrification Market by Platform
11.4.7.1.3 South Africa Military Vehicle Electrification Market by System
11.4.7.1.4 South Africa Military Vehicle Electrification Market by Operation
11.4.7.2 Saudi Arabia Military Vehicle Electrification Market
11.4.7.2.1 Saudi Arabia Military Vehicle Electrification Market by Technology
11.4.7.2.2 Saudi Arabia Military Vehicle Electrification Market by Platform
11.4.7.2.3 Saudi Arabia Military Vehicle Electrification Market by System
11.4.7.2.4 Saudi Arabia Military Vehicle Electrification Market by Operation
11.4.7.3 U.A.E Military Vehicle Electrification Market
11.4.7.3.1 U.A.E Military Vehicle Electrification Market by Technology
11.4.7.3.2 U.A.E Military Vehicle Electrification Market by Platform
11.4.7.3.3 U.A.E Military Vehicle Electrification Market by System
11.4.7.3.4 U.A.E Military Vehicle Electrification Market by Operation
11.4.7.4 Rest of Middle East and Africa Military Vehicle Electrification Market
11.4.7.4.1 Rest of Middle East and Africa Military Vehicle Electrification Market by Technology
11.4.7.4.2 Rest of Middle East and Africa Military Vehicle Electrification Market by Platform
11.4.7.4.3 Rest of Middle East and Africa Military Vehicle Electrification Market by System
11.4.7.4.4 Rest of Middle East and Africa Military Vehicle Electrification Market by Operation
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Military Vehicle Electrification Market Overview
11.5.2 South and Central America Military Vehicle Electrification Market Forecasts and Analysis
11.5.3 South and Central America Military Vehicle Electrification Market Forecasts and Analysis - By Technology
11.5.4 South and Central America Military Vehicle Electrification Market Forecasts and Analysis - By Platform
11.5.5 South and Central America Military Vehicle Electrification Market Forecasts and Analysis - By System
11.5.6 South and Central America Military Vehicle Electrification Market Forecasts and Analysis - By Operation
11.5.7 South and Central America Military Vehicle Electrification Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Military Vehicle Electrification Market
11.5.7.1.1 Brazil Military Vehicle Electrification Market by Technology
11.5.7.1.2 Brazil Military Vehicle Electrification Market by Platform
11.5.7.1.3 Brazil Military Vehicle Electrification Market by System
11.5.7.1.4 Brazil Military Vehicle Electrification Market by Operation
11.5.7.2 Argentina Military Vehicle Electrification Market
11.5.7.2.1 Argentina Military Vehicle Electrification Market by Technology
11.5.7.2.2 Argentina Military Vehicle Electrification Market by Platform
11.5.7.2.3 Argentina Military Vehicle Electrification Market by System
11.5.7.2.4 Argentina Military Vehicle Electrification Market by Operation
11.5.7.3 Rest of South and Central America Military Vehicle Electrification Market
11.5.7.3.1 Rest of South and Central America Military Vehicle Electrification Market by Technology
11.5.7.3.2 Rest of South and Central America Military Vehicle Electrification Market by Platform
11.5.7.3.3 Rest of South and Central America Military Vehicle Electrification Market by System
11.5.7.3.4 Rest of South and Central America Military Vehicle Electrification Market by Operation
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. MILITARY VEHICLE ELECTRIFICATION MARKET, KEY COMPANY PROFILES
13.1. ARQUUS
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BAE SYSTEMS PLC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. GENERAL DYNAMICS CORPORATION
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. LEONARDO S.P.A.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. TEXTRON INC
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. GENERAL MOTORS COMPANY
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. NIKOLA CORPORATION
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. QINETIQ GROUP PLC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. NEXTER GROUP
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. KRAUSS-MAFFEI WEGMANN GMBH AND CO. KG
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Arquus
2. BAE Systems plc
3. General Dynamics Corporation
4. Leonardo S.p.A.
5. Textron Inc
6. General Motors Company
7. Nikola Corporation
8. Qinetiq Group Plc
9. Nexter group
10. Krauss-Maffei Wegmann GmbH and Co. KG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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