Military Ground Vehicle Propulsion System | Key Market Insights

As per Triton Market Research, the Global Military Ground Vehicle Propulsion System Market report is segmented by Vehicle Type (Fighting Vehicles, Combat Tanks, Self-Propelled Artillery, Small UGV Robots), Technology (Conventional Propulsion System, Electric Propulsion System, Hybrid Propulsion System, Plug-In Hybrid Electric Propulsion System), Application (Mining, Explosive Ordnance Disposal (EOD), Intelligence, Surveillance, and Reconnaissance (ISR), Logistics and Support, Combat Support, Other Applications), and Regional Outlook (Asia-Pacific, Europe, North America, Middle East and Africa, Latin America).

The report highlights the Market Summary, Industry Outlook, Porter’s Five Forces Analysis, Market Attractiveness Index, Regulatory Framework, Key Market Strategies, Market Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology and scope, Global Market Size, Forecasts & Analysis (2024-2032).

According to Triton’s research report, the global market for military ground vehicle propulsion system is expected to progress with a CAGR of 6.45% in revenue over the forecasting period 2024-2032. 

Military ground vehicle propulsion systems are important components that generate the required power to propel tactical and armored military vehicles. These systems impact the agility, mobility, and overall performance of military ground vehicles in harsh operational surroundings.

Amidst rising geopolitical tensions, an increasing need for modern warfare techniques and technological advancements in electric and hybrid propulsion systems drive the growth of the studied market. Moreover, improving fuel efficiency to reduce the environmental impact and integrating AI to enhance the autonomous operations of military ground vehicles together influence the market progress.

However, the acquisition and development costs regarding advanced propulsion technologies obstruct the market growth. The biggest obstacle for manufacturers is the need for standardization across versatile military platforms, stringent regulations, and export limitations on defense technologies also hampers the expansion of the military ground vehicle propulsion system market.

In spite of these challenges, there is an increasing demand for electric and hybrid propulsion systems, which creates opportunities for the market players. As the military forces prioritize unmanned ground vehicles, there is a need to develop propulsion systems with highly advanced automation. 

The major competitive companies in the studied market are Bae Systems, L3harris Technologies Inc, Cummins Inc, Caterpillar Inc, Oshkosh Corporation, Rheinmetall AG, Epsilor-Electric Fuel Ltd, General Dynamics, Northrop Grumman Corporation, Daimler AG, Israel Aerospace Industries Ltd, Lockheed Martin Corporation, General Motors Company, and Qinetiq Group.

Additionally, the need for developing strategic partnerships and improving defense forces provide new avenues for emerging market players to diversify their products. Similarly, tapping into regional markets can be another competitive edge for the stakeholders.