By the end of 2021, the total value of sales of power generators for military use was estimated to be around US$1.06 billion. By 2030, it is anticipated that the global market for military power generators will grow at a 3.5% CAGR and reach a value of US$ 1.44 Bn. 15% of the market for generators was taken up by power generators for the military.
Uninterrupted and reliable sources of power supply are vital for successful military operations. Power generators have applications 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 toward compact and lightweight designs is higher. These generators are touted as advanced equipment that offers robust output at a low cost. Driven by the demand for improved fuel efficiency, sales of compact generators are expected to pick up in the coming years.
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According to FMI, the demand for advanced and fuel-efficient generators will accelerate in the coming years. Increasing budget allocation towards strengthening the defence 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 environmental 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 the 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 for 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 the 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 to is no stranger to crisis. It is reeling under payment delays and deficits. Government-owned distribution companies are particularly hampered. Nationwide lockdowns have posed unique and devastating challenges. The liquidity crunch is threatening several companies within the industry.
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Competitive Landscape
Companies manufacturing military power generators are striving to offer advanced power generation systems with high output and low operational costs. They are likely to focus more on the manufacturing of hybrid generators over the coming years. Overall, focus on portfolio and footprint expansion is forecast to remain high in the market.
For instance,
- Cummins Inc. launched the HSK78G natural gas generator series. This series offers a range of advanced capabilities and innovative gas technologies.
Key Companies Profiled
- Cummins Inc.
- Caterpillar Inc.
- Rolls-Royce Holdings plc
- HIMOINSA
- Harrington Generators International
- Fischer Panda GmbH
- Ascot Industrial S.r.l.
- GREEN POWER SYSTEMS S.r.l.
- Kohler Co.
- Kirloskar Oil Engines Ltd.
- Ausonia S.r.l.
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Power Generator for Military Market by Capacity:
- Up to 60 KW Military Power Generators
- 61 to 250 KW Military Power Generators
- 251 to 500 KW Military Power Generators
- 501 to 1000 KW Military Power Generators
- Above 1000 KW Military Power Generators
Power Generator for Military Market by Output:
- AC Military Power Generators
- DC Military Power Generators
Power Generator for Military Market by Fuel:
- Diesel Military Power Generators
- Natural Gas Military Power Generators
Power Generator for Military Market by Installation:
- Stationery Military Power Generators
- Mobile and Portable Military Power Generators
Power Generator for Military Market by Application:
- Communication Systems
- Air Defense Systems
- Field Hospitals
- Field Camps/Accommodation
- Lightings
- Military Vehicles
- Others
Power Generator for Military Market by Region:
- North America Power Generator for Military Market
- Latin America Power Generator for Military Market
- Europe Power Generator for Military Market
- East Asia Power Generator for Military Market
- South Asia & Pacific Power Generator for Military Market
- Middle East & Africa (MEA) Power Generator for Military Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.
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