Next Generation Military Power Supply Market to US$ 20,111.7 Mn by 2026
Posted by surendra choudhary on March 19th, 2020
According to a latest market report titled “Next Generation Military Power Supply Market,” published by Transparency Market Research the global next generation military power supply market is expected to reach value of US$ 20,111.7 Mn by 2026, expanding at a CAGR of 5.2% during the forecast period, 2018 to 2026. According to the research study, North America held approximately 39.3% of the global market share in 2017. This is mainly due to development of advanced military power supply systems as well as early adoption of COTS (commercial off-the-shelf) software. Also, growing need to protect sensitive data from grid power instability and downtime issues is anticipated to significantly drive the global next generation military power supply market.
Demand for unique features in military power supply systems such as increased ruggedness, durability, and reliability, and growing demand for longer mean time between failure and adoption of COTS technology driving the global next generation military power supply market
Some of the major factors favoring the growth of the global next generation military power supply market include rising trend of incorporating digital power management and control solutions in military power supply products. Further, the power supply equipment replacement cycle is getting shorter. The military sector is responsible for safeguarding sensitive data such as information related to national security, weapons, defense systems, strategies etc.
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The need to protect sensitive electronic devices from grid power quality instability is increasing significantly. Adopting smart grid systems & renewable energy sources can improve grid reliability. Smart grid technology in power supply systems can improve the amount of uneven renewable generation in power systems. Smart grids stimulate energy saving in power supply systems by improving the utilization efficiency and power consuming efficiency. Also, increase in use of equipment demanding higher voltage is paving the way for new market opportunities.
Next Generation Military Power Supply: Scope of the Report
The global next generation military power supply market has been segmented by type, component, system type, and end-use. Based on type, the market is segmented into programmable and non-programmable segments. According to TMR analysis, the programmable power supply segment holds the maximum market share and is estimated to expand at a CAGR of 5.5% through 2026. This is mainly due to increasing application areas of programmable power supply components in the military sector. Based on component, the global next generation military power supply market is categorized into hardware and software. The hardware segment is further sub segmented into DC/AC convertor, AC/DC convertor, DC/DC convertor, EMI filters and others (inductors, transformers, etc.). Among components, the hardware segment holds the largest share and is anticipated to show a CAGR of about 5.2%. By hardware, AC/DC convertor segment is anticipated to contribute significant market revenue share, expanding at a CAGR of 6.1 % and it is anticipated to remain dominant during the forecast period. On the basis of system type, the market is segmented into discrete power supply system and integrated power modules. According to the research study, due to better reliability and power density compared to discrete power supply system, the market share of integrated power modules is anticipated to increase at a CAGR of 5.9%. Based on end-use, the global next generation military power supply market is segmented into aerial, land, and naval. The land segment is anticipated to grab maximum market share in 2017 while the aerial segment is projected to show lucrative growth during the forecast period at a CAGR of 5.7%. This is mainly due to legislation regarding pollution control which demands better fuel efficient aerial military vehicles and the development of advanced military aircrafts and vehicles in the military power supply market.
The geographical segmentation of the market comprises North America, Europe, Asia Pacific, Middle East & Africa, and South America. According to TMR analysis, currently the next generation military power supply market is dominated by North America followed by Europe. However, Asia Pacific is projected to witness fastest growth during the forecast period due to ongoing technological innovations in the military power supply market.
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Global Next Generation Military Power Supply: Competitive Dynamics
The research study includes profiles of leading companies operating in the global next generation military power supply market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. Some of the key players operating in the next generation military power supply market are XP Power, Advanced Conversion Technology, Eaton Corporation, Aegis Power System, Inc., TDK-Lambda Americas, Inc., Abbott Technologies, AGMA Power Systems Ltd., Mitsubishi Electric Corporation, Energy Technologies Inc., Synqor, Inc., AJ’s Power Source Inc., Prime Power Inc., Powerbox International AB, Milpower Source, Astrodyne TDI Power Supplies & EMI Filters among others. Various business strategies are being adopted by market leaders. Also, companies are focusing on expanding their business by developing strategic partnerships, product portfolio diversification, and by offering innovative solutions to the end-use market.
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About the Authorsurendra choudhary
Joined: February 12th, 2019
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