Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Technology;

Electric Hub Drive and Electric Propulsion System.

By Vehicle Type;

Tracked and Wheel.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn659461342 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market (USD Million), 2021 - 2031

In the year 2024, the Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market was valued at USD 85.54 million. The size of this market is expected to increase to USD 129.48 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.1%.

The global electric hub drive and electric propulsion system market for combat vehicles has witnessed a significant surge in demand in recent years, driven by a growing emphasis on modernization and sustainability in military operations worldwide. These systems offer a range of benefits, including enhanced maneuverability, reduced fuel consumption, and lower maintenance requirements, making them increasingly attractive to defense forces seeking to optimize their fleets for the challenges of the 21st century battlefield.

One of the key drivers propelling the market forward is the increasing focus on electrification and hybridization within the defense sector, spurred by concerns over fuel efficiency, emissions reduction, and operational flexibility. Electric hub drive systems, in particular, have gained traction for their ability to deliver power directly to individual wheels, enabling precise control and agility in various terrain conditions. Moreover, electric propulsion systems offer quieter operation compared to traditional combustion engines, which can be advantageous for stealth missions and urban operations.

Another factor fueling market growth is the rising adoption of advanced technologies, such as electric motors, power electronics, and energy storage solutions, which enable combat vehicles to operate more efficiently and effectively across diverse operational scenarios. Additionally, the integration of electric propulsion systems with emerging technologies like autonomous driving and unmanned systems is opening up new possibilities for next-generation combat vehicles, further driving demand for these innovative solutions.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Technology
    2. Market Snapshot, By Vehicle Type
    3. Market Snapshot, By Region
  4. Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Advancements in Electric Vehicle Technology
        2. Growing Focus on Sustainable Defense Solutions
      2. Restraints
        1. Initial High Costs and Infrastructure Challenges
        2. Limited Range and Power Capabilities
      3. Opportunities
        1. Government Initiatives and Funding Support
        2. Integration of Advanced Technologies like AI and IoT
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market, By Technology, 2021 - 2031 (USD Million)
      1. Electric Hub Drive
      2. Electric Propulsion System
    2. Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market, By Vehicle Type, 2021 - 2031 (USD Million)
      1. Tracked
      2. Wheel
    3. Global Electric Hub Drive and Electric Propulsion System for Combat Vehicle Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. QinetiQ Group plc
      2. BAE Systems plc
      3. General Dynamics Corporation
      4. Rheinmetall AG
      5. Lockheed Martin Corporation
      6. Northrop Grumman Corporation
      7. Raytheon Technologies Corporation
      8. Elbit Systems Ltd.
      9. Saab AB
      10. Thales Group
  7. Analyst Views
  8. Future Outlook of the Market