Electric Hub Drive and Electric Propulsion System Market - Snapshot

The electric hub drive and electric propulsion system plays a critical role in military vehicles when fast acceleration and high torque is to be considered. The electric hub drive and electric propulsion system market is witnessing significant technological advancements in military combat vehicles. Electric hub drives have been used in commercial vehicles; however, this technology is new in case of military vehicles and is expected to witness significant growth in the coming years, whereas currently electric propulsion system has a significant role in the space and marine industry. However, in-depth research is being undertaken in military combat vehicles and electric hub drives have been installed in some of the combat vehicles. With focus on its growing applications in military combat vehicles, the electric hub drive and electric propulsion system market is expected to grow significantly over the forecast period. The market for electric hub drive and electric propulsion system is forecast to quickly grow to US$ 103.04 Mn by 2026 from US$ 58.03 Mn in 2017, recording a CAGR of 6.8%.The market has seen demand traction due to rising applications in tracked military vehicles.

electric hub drive and electric propulsion system for combat vehicle market

Though electric hub drive and electric propulsion systems have been long in demand, combat vehicles have of late gained momentum. A close study of recent product launches and developments of key industry participants active in the electric hub drive and electric propulsion system market reveals that the use of such technologies in military vehicles would continue to grow throughout the forecast period. Factors such as increasing security and defense expenditure by different countries and the demanding natural conditions is seen as crucial to influence the market growth trends. The electric hub drive and electric propulsion system market however still faces challenges such as lower growth rate in traditional defense markets. The existing technology integration gives way to possible opportunities, such as solar electric propulsion systems.

The electric propulsion system offers modular design and efficient performance. Any further development and exploration of electric hub drive and electric propulsion systems is expected to open new set of unexplored opportunities, thereby contributing to the market growth.

Attracted by this fast expanding market and underlying latent demand, many players are investing in the electric hub drive and electric propulsion system market. For instance, in August 2016, QinetiQ Group Plc. received a contract worth US$ 2.7 Mn from Defense Advanced Research Projects Agency (DARPA) for electric hub drive technology. However, with competition from established players such as Aerojet Rocketdyne Holdings Inc., Safran S.A., BAE Systems, Magnetic Systems Technology, United Technologies Corporation and others that already have a strong network in the market and technology expertise, new entrants may find it challenging to establish a foothold without a unique value proposition.

Some of the prominent players identified in the electric hub drive and electric propulsion system market and profiled in the study include - QinetiQ Group PLC, Aerojet Rocketdyne Holdings Inc., Safran S.A., BAE Systems, Magnetic Systems Technology, United Technologies Corporation, Raytheon Company, Rolls-Royce Plc, General Electric, and Northrop Grumman Corporation.

Electric Hub Drive and Electric Propulsion System Market - Overview

This comprehensive report by Transparency Market Research analyzes and forecasts the electric hub drive and electric propulsion system market at the global and regional level. The report provides analysis over the period 2016–2026, wherein 2018 to 2026 is the forecast period and the base year is 2017. An in-depth and unbiased market assessment has been made to offer readers in-depth and accurate analysis. The report emphasizes on all the major trends and services playing a key role in the growth of the electric hub drive and electric propulsion system market during 2018 - 2026. It also focuses on market drivers, restraining factors, and opportunities of the electric hub drive and electric propulsion system market during the said period. The study provides a complete perspective about the market’s growth throughout the research study in terms of value (in US$ Mn) across various geographies, including Asia Pacific, South America, North America, Middle East & Africa (MEA), and Europe.

The report includes a detailed value chain analysis, which provides an extensive view of the global electric hub drive and electric propulsion system market. Porter’s Five Forces analysis is also provided to understand the competitive scenario in the market. The study incorporates a market attractiveness analysis, wherein the market segments for instance, technology, and vehicle type are benchmarked based on their market size, growth rate, and attractiveness in terms of opportunity. In order to give a complete analysis of the overall competitive scenario in the electric hub drive and electric propulsion system market, every geographic region mentioned in the report is provided with attractiveness analysis.

A market overview chapter in the report explains the market trends and dynamics, which includes the drivers, restraining factors, and opportunities for the current and future electric hub drive and electric propulsion system market. A market outlook analysis has also been provided globally in the report. Additionally, the report provides analysis of different business strategies being adopted by market leaders of electric hub drive and electric propulsion systems. Market introduction chapter assists in gaining an idea of different trends and services related to electric hub drive and electric propulsion systems along with their types, applications, and end-use.

Global Electric Hub Drive and Electric Propulsion System Market: Scope of the Report

The study provides a decisive view on the global electric hub drive and electric propulsion system market, by segmenting the market on the basis of technology into electric hub drive and electric propulsion system. Based on vehicle type, the market has been classified into tracked and wheel type of military vehicles.The report provides a detailed breakdown of the electric hub drive and electric propulsion system market region-wise and categorizes it at various levels, thus providing valuable insights at micro and macro levels.

The report highlights the competitive scenario within the electric hub drive and electric propulsion system market, thus ranking all the major players according to key recent developments and their geographic presence. The insights for the electric hub drive and electric propulsion system market are the result of our extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.

On the basis of country, the North America market is bifurcated into the U.S., Canada, and Rest of North America. Furthermore, the Europe market is analyzed across Germany, U.K., France, and Rest of Europe. The APAC electric hub drive and electric propulsion systemmarketis also segmented as China, Japan, India, and Rest of Asia Pacific. Middle East & Africa region covers the G.C.C.countries, South Africa, and Rest of Middle East & Africa. Similarly, South America region includes Brazil and Rest of South America. The report provides all the strategic information required to understand the electric hub drive and electric propulsion system market along with its technology and vehicle type. The report also provides insights related to the technology and vehicle type according to the various geographical regions mentioned above.

Global Electric Hub Drive and Electric Propulsion System Market: Research Methodology

The research methodology is a perfect combination of primary research, secondary research and expert panel reviews. Secondary sources such asannual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and industry white papers are usuallyreferred.

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the electric hub drive and electric propulsion system market,across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights andvalidate the existing data and analysis. Primary interviews offernew and fresh information on important factors such as market trends, market size, competitive landscape,growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.

Global Electric Hub Drive and Electric Propulsion System Market: Competitive Dynamics

The research study includes profiles of leading companies operating in the global electric hub drive and electric propulsion system market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as investment & research and developments by major players of the market are tracked. Some of the key players in the electric hub drive and electric propulsion system market are QinetiQ Group PLC, Aerojet Rocketdyne Holdings Inc., Safran S.A., BAE Systems, Magnetic Systems Technology, United Technologies Corporation, Raytheon Company, Rolls-Royce Plc, General Electric, and Northrop Grumman Corporation.

The electric hub drive and electric propulsion system market has been segmented as follows:

Global Electric Hub Drive and Electric Propulsion System Market

By Technology

  • Electric Hub Drive
  • Electric Propulsion System

By Vehicle Type

  • Tracked
  • Wheel

By Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.