Electric Vehicles in Defense - Thematic Intelligence

Electric Vehicles in Defense - Thematic Intelligence

Summary

The growth of electric vehicles (EV) in the consumer automotive market over the past decade has accelerated interest from the defense sector in the potential benefits and commercial opportunities battery electric vehicles and hybridized vehicle designs could provide. As the pressure for military modernization encounters increasingly pressing environmental sustainability objectives, military and defense industry officials are highlighting the geostrategic benefits of electrification in land vehicle fleets. Government agencies are increasingly collaborating with companies throughout the EV value chain, with investments in areas such as platform design, battery technologies, energy infrastructure, logistical services, and manufacturing capabilities.

Several automotive, energy, and technology firms-including leading EV companies like Tesla-are acceding to the defense market as demand for expertise provides opportunities for expansion into this sector. Meanwhile, specialist defense primes are also expanding their offering relating to vehicle electrification, with hybridization solutions becoming a popular stepping stone for militaries seeking to explore the benefits and challenges of expanding EV adoption.

By the end of 2022, GlobalData’s Global Vehicle Parc Database estimates there were 18.9 million battery electric vehicles on the road globally-equating to a 1.3% total share. Production of battery EVs grew by 70% in 2022 compared with the previous year, reaching 7.78 million units. This growth in manufacturing is impressive considering the general declines in vehicle sales and production due to the impact of COVID-19 and the associated chip shortage.iod.

Key Highlights

• Studies of emerging technological trends and their broader impact on the defense market.
• Analysis of the various military EV platforms, programs and projects currently under development, as well as the impact of emerging technologies such as battery technology and alternative fuel solutions on the future outlook of the military EV theme.

Who Should Buy

• Our thematic research product, supported by our thematic engine, is aimed at senior (C-Suite) executives in the corporate world, decision makers, and institutional investors.
• Corporations: Helps CEOs, CTOs, and other senior executives of companies understand this key theme, the competitive environment, and the market opportunities.
• Investors: Helps fund managers and other major investors focus on investment opportunities in Defense and understand the market around military electric vehicles.

Scope

• The key defense challenges that forces and defense sector suppliers face are covered.
• The investment opportunities for armed forces, suppliers, and institutional investors, across the whole military EV value chain are covered.
• Highlights from the range different military EV related research and development programs currently being undertaken by various military organizations and defense companies.

Reasons to Buy

• Determine potential investment companies based on trend analysis and market projections.
• Gaining an understanding of the market challenges and opportunities surrounding the electric vehicles in defense theme.
• Understanding how spending on military EVs and related segments will fit into the overall market and which spending areas are being prioritized.