Global Alternative Fuel-powered Military Fleet Market 2017-2021

Overview of the global alternative fuel-powered military fleet market

According to Technavio’s market research report, the global alternative fuel-powered military fleet market will grow at a steady rate and post a CAGR of more than 4% during the forecast period. The easy supply of fuel in times of crisis will drive the growth prospects for the global alternative fuel-powered military fleet market during the predicted period. The market is witnessing a huge shift from conventional fuels towards the use of biofuels because conventional fuels involve supply chain complexities under extreme weather or terrain conditions, difficulties during unscheduled and spontaneous movement under emergency situations, and complex maintenance and transportation of the reserved stocks of fuel. Since the use of biofuels or alternate fuels eliminates the need to transport fuel to the battlefield or place of crisis, the defense authorities are increasingly focusing on the production and sustainment of alternative fuel to power the military fleet.

The growing trend to harvest fuel from seawater will stimulate the growth of the alternative fuel-powered military fleet market during the estimated period. To eliminate the usage of fossil fuels, the US Naval Research Laboratory (NRL) has come up with technology that is used to harness carbon dioxide and hydrogen from seawater and convert it into liquid hydrocarbon fuel, which in turn, will drive the growth of the market for alternative fuel-powered military fleet.

Competitive landscape and key vendors

The alternative-fuel powered military fleet market is characterized by the presence of global and regional vendors, which makes it highly competitive. Factors such as intense competition, rapid advance in technology, frequent changes in government policies, and environmental regulations pose as significant challenges to the growth of the vendors. Many vendors are increasingly focusing on in-house manufacturing capabilities, global footprint network, product offerings, investments in research and developmental activities, and strong client base to enhance their geographical reach.

Key vendors in this market are -

• Boeing
• Chevron
• GE Aviation
• General Motors

Other prominent vendors in the market include ARA, Dynamic Fuels, TerraVia, and SOUTHERN OIL.

Segmentation by platform type and analysis of the alternative fuel-powered military fleet market

• Aerial fleet
• Naval vessels
• Ground vehicles

The alternative fuel-powered aerial fleet segment dominated the global alternative fuel-powered military fleet market during 2016 and will continue to dominate the market till 2021. The increasing focus on the production and testing of alternative and renewable fuels by major stakeholders and the increasing number of government initiatives, will result in the reduced use of crude oil-based fuels and promote the application of alternative fuels.

Segmentation by geography and analysis of the alternative fuel-powered military fleet market

• Americas
• APAC
• EMEA

In terms of geography, the Americas dominate the alternative fuel-powered military fleet market during 2016 and the region will continue its market dominance during the next four years as well. The considerable increase in investments towards the development of biofuels by the US Navy and the US Air Force, will be one of the major factors driving the adoption of alternative fuels powered vehicles in the Americas.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global alternative fuel-powered military fleet market?
• What are the key market trends impacting the growth of the global alternative fuel-powered military fleet market?
• What are the challenges to market growth?
• Who are the key vendors in the global alternative fuel-powered military fleet market?
• What are the market opportunities and threats faced by the vendors in the global alternative fuel-powered military fleet market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global alternative fuel-powered military fleet market?

Technavio also offers customization on reports based on specific client requirement.

Technavio’s reports for the aerospace and defense industry encompass a vast range of fast-growing markets including defense, aerospace, and space. Further to providing information on various factors such as the evolution of the customer’s choices, market drivers and challenges for the vendors in the aerospace industry’s marketspace, Technavio’s reports also detail out an extensive analysis of the demand-supply shifts and the competitive landscape.

To effectively forecast the industry’s growth prospects, our market research experts follow a combined research approach of primary and secondary techniques and carry out a study of various factors, including technological advancements and the rise in demand for different products and services across a variety of geographical locations. Our upcoming industry research report on the global alternative fuel powered military vehicles market for the period of 2017 to 2021 offers key insights conceived from the statistics and figures collected from sound sources of information such as manufacturers, channel partners, regulatory bodies, and decision makers to help clients devise new strategies for growth.

This upcoming report on the global alternative fuel powered military vehicles market also takes into regard the growth of resembling markets such as military exoskeleton and military fitness training equipment, which are predicted to grow at a CAGR of about 65% and close to 2%, respectively by 2021. According to our market research analysts, higher defense spends in countries like Russia, India, United Arab Emirates, Japan, and South Korea due to the adoption of modern defense platforms and technologies is a primary driver boosting the defense market’s growth in the coming few years. Technavio also offers reports based on specifications of various clients, which will help all vendors and players targeting niche customer segments fortify their position in the aerospace and defense industry.

The upcoming industry research report on the global alternative fuel powered military vehicles market also identifies the key drivers, future market trends, and the challenges currently experienced by the industry and also presents insights into defense technology, homeland security, and aerospace manufacturing sectors.