Military Power Solutions Market Projected to Reach $9.01 Billion by 2022
April 6, 2017 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Military Power Solutions Market - Global Forecast to 2022" report to their offering.
The military power solutions market is projected to reach USD 9.01 billion by 2022, at a CAGR of 9.07% during the forecast period. Factors, such as requirement for durable and maintenance free power sources power solution for military is expected to drive the growth of the military power solutions market.
The portable segment is expected to witness highest growth, owing to the increasing demand for portable power sources in applications, such as soldiers, UAVs, and vehicles, among others. Military forces across the globe demand compact sources of power that can provide high energy density for a longer time-period. The power sources should also be safe and rugged to withstand the harsh environment.
Fuel cells are being used extensively in the battlefield. These cells are replacing the batteries and generators due to their benefits, such as safety, reliability, noise-reduction, and high energy density. Fuel cells are used in various applications, such as soldiers, UAVs, and ground vehicles, among others.
North America is expected to be the largest market for military power solutions, owing to the high defense spending by the U.S. Increasing demand for lightweight and energy efficient power sources is expected to fuel the market for military power solutions in the region. Major players are making significant investments in research and development to develop advanced military power solutions.
Suggested Items
SPEA Expands in Southeast Asia with New Subsidiary in Thailand
05/17/2024 | SPEASPEA, a global leader in automatic test equipment for the manufacturing of semiconductor, microelectronic and electronic devices, today announced the opening of its new subsidiary in Thailand. This expansion marks a significant step forward in SPEA's commitment to serving the growing Southeast Asian microchip and electronics market with leading-edge manufacturing machinery and equipment.
PCB Market Size to Grow by $29.06B from 2024-2028
05/17/2024 | PRNewswireThe global printed circuit board (PCB) market size is estimated to grow by USD 29.06 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.6% during the forecast period.
AT&S 2024/25 on Growth Course Again
05/17/2024 | AT&SAT&S operated in a challenging market environment in the financial year 2023/24. After a strong second quarter, demand was relatively weak again in some market segments in the second half of the financial year.
Shipments of OLED Monitors Hit 200,000 Units in 1Q24, Annual Forecast to Reach 1.34 Million
05/17/2024 | TrendForceTrendForce’s latest report reveals a robust start to 2024 for OLED monitors, with shipments reaching approximately 200,000 units in the first quarter—marking a YoY growth of 121%.
Magnachip Celebrates the Grand Opening of Magnachip Technology Company in China
05/16/2024 | MagnachipMagnachip Semiconductor Corporation celebrated the opening ceremony of Magnachip Technology Company, Ltd. (MTC) yesterday at its headquarters located in Hefei, China. MTC is a subsidiary of Magnachip, established on December 20, 2023, to expand the Company’s display driver IC and power IC businesses in China.