Military power generators are different from your run-of-the-mill home backup generators.
The global power generator for military market is predicted to register a CAGR of 3.6% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 1,127.1 million in 2023 to US$ 1,605.3 million by 2033 end.
The technological upgradation in diesel generators is eliciting market development of power generators for military. In this regard, the development of compact tactical power generators is strengthening market growth. Besides, the surging military expenditure of governments across the globe is invoking market expansion.
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The execution of defense protocols is also projected to have a positive effect on market development. Take for example, in December 2020, the United States Army formulated a portable generator with the help of X-Engine, delivered by Connecticut-based LiquidPiston. The launch of this vital rotary engine is predicted to produce an amount of power, which is equivalent to the Army’s present gen-set, though being one-fifth the size. Such developments are expected to have a positive influence on market growth.
Increasing focus on the modernization of Army by scientists and engineers is propelling the market growth. For instance, in April 2020, scientists from the United States Army Combat Capabilities Development Command revealed that they are developing an energy-efficient generator that powers autonomous military vehicles, for months on end.
Top Highlights from the FMI’s Analysis of the Power Generator for the Military Market:
- The United States power generator for the military industry is expected to hold its dominance over the upcoming years as well. The regional market is predicted to hold a mighty share of 34.5% over the forecast period.
- In Europe, Germany is expected to be a prominent nation, accounting for about 2.8% in the coming years. Alongside this, the United Kingdom is expected to expand at 2.1% CAGR over the forecast period.
- In Asia Pacific region, India is predicted to robustly expand at 4.7% CAGR, whereas China is projected to expand at 3.6% CAGR over the forecast period.
- The field camps/accommodation, on the basis of application, is projected to hold a significant share of 62.2% over the upcoming years.
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Stay Abreast with Recent Market Developments as Observed by FMI
- In April 2022, Sunshine Coast obtained a deal worth US$ 47.4 million to provide portable diesel generators to Australian Defense Force. This deal necessitates the company to deliver 1,350 diesel generators for the purpose of emergency, recovery, combat, and defense operations. The contract was assigned under the Land8140 Tranche 1 acquisition program.
- In October 2019, Cummins Inc., revealed the launch of theTactical Energy Storage Unit in the 2019 show conducted by the Association of the United States Army (AUSA). This new unit is the first hybrid power generation system for the United States military.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
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