Exploring the Military Power Generator Market – Size, Share, Current Landscape, and Future Growth Prospects
FMI’s report on the power generator for military market highlights the specific needs of the defense and military sector. It identifies hidden growth opportunities for the market players, besides cautioning them against potential threats.
The market for military
power generators is anticipated to reach US$ 1.13 billion in 2023 and
grow at a 3.54% CAGR thereafter. Sales of all military power generators are
anticipated to increase steadily between 2023 and 2033, reaching a value of US$
1.61 billion by that year.
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Uninterrupted and reliable sources of power supply are vital
for successful military operations. Power generators have application across
diverse segments within the military industry. Against this backdrop, Future
Market Insights (FMI) foresees lucrative prospects for power generator
producers within the military market.
Power generators are used for various tactical operations
within military agencies. On account of changing landscape, the inclination
towards compact and lightweight designs is higher. These generators are touted
as advanced equipment that offer robust output at low cost. Driven by the
demand for improved fuel efficiency, sales of compact generators are expected
to pick up in the coming years.
According to FMI, the demand for advanced and fuel-efficient
generators will accelerate in the coming years. Increasing budget allocation
towards strengthening the defense sector will subsequently aid the expansion of
the market.
Some of the key takeaways from the report are:
- Market
players are likely to witness attractive growth opportunities as military
agencies focus on establishing integrated power systems. This will
invariably fuel the demand for generators
- Hybrid
generators are likely to comprise an exceptionally lucrative product
category. Ensuring environment safety is high on the agenda of military
agencies. They are keen on investing in fuel-efficient technologies that
will also offer significant cost reduction
- Backed
by increasing military spending, North America is forecast to emerge as
dominant market for power generators
- While
diesel will remain preferred fuel type, tightening environmental laws will
boost growth prospects for natural gases as potential sources of fuel
- Demand
power generators will remain significantly high in field hospitals and
field camps and accommodations
The COVID-19 Impact
The COVID-19 outbreak has sent shockwaves across the globe.
Experts even presume it to be the worst crisis the world has witnessed in
recent past. The crisis was unprecedented, resultantly it crippled the
manufacturing sector of some of the major economic powerhouses.
By the time the global economy recovers from the jolt,
manufacturing is expected to be among the worst-hit sectors. The incredible
slump in investment, subsequently revenue generated within the industry paints
a gory picture.
The power sector too is no stranger to the crisis. It is
reeling under payment delays and deficits. Government owned distribution
companies are particularly hampered. Nationwide lockdowns have posed unique and
devastating challenges. Liquidity crunch is threatening several companies
within the industry.
Power Generator for Military Industry Segmentation
By Capacity:
- Up to
60 KW
- 61 to
250 KW
- 251 to
500 KW
- 501 to
1000 KW
- Above
1000 KW
By Output:
- Alternative
Current (AC)
- Direct
Current (DC)
By Fuel:
- Diesel
- Gas
- Propane
- Natural
Gas
By Installation:
- Stationary
- Mobile
and Portable
By Application:
- Communication
Systems
- Air
Defence Systems
- Field
Hospitals
- Field
camps/Accommodation
- Lightings
- Military
Vehicles
- Others
By Region:
- North
America
- Latin
America
- Europe
- South
Asia
- East
Asia
- Middle
East & Africa
- Oceania
Who is winning?
Leading companies operating in the power generator market
have an impressive global presence backed a strong distribution and sales
network. Because the market is fairly consolidated, Tier 1 companies are
expected to account for the lion’s share.
Market players will primarily focus on expanding their
global footprint and product portfolio. Considering this, besides mergers and
acquisitions, product launches will remain highly preferred strategic moves
among competitors.
FMI profiles some of the leading companies operating in the
global market. These include Cummins Inc., Caterpillar Inc., Rolls-Royce
Holdings plc, HIMOINSA, Harrington Generators International, Teknel srl, GRUPEL
S.A., VÝVOJ Martin, HITZINGER GmbH, Fischer Panda GmbH, Ascot Industrial
S.r.l., GREEN POWER SYSTEMS S.r.l., Kohler Co., Kirloskar Oil Engines Ltd., and
Ausonia S.r.l.
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