TechNavio recognizes the following companies as the key players in the Global Renewable Energy Market in the Military Sector: Acciona Solar Power Inc., BAE Systems plc, The Boeing Co., General Dynamics Corp., and GE Co.
Commenting on the report, an analyst from TechNavio’s team said: “Smart grid investment worldwide is estimated to amount to about US$200 billion by 2015. The emergence of smart grids is currently facilitating the growth of the Global Renewable Energy market in the Military sector. Various Chinese players are investing heavily in the Smart Grid industry to integrate the power generated by fossil fuel sources with that generated by renewable energy sources. Japan, too, is investing in smart grid technology to upgrade its power infrastructure. The country has started upgrading its power transmission lines as part of its plan to encourage its Smart Grid industry. Similarly, Korea is investing in the IT and Communication sector of the Smart Grid industry to enhance its growth in the country, with plans to also export the technology. The Smart Grid industry, which is developing rapidly, involves activities that integrate renewable energy into the power grid, and is in turn increasing growth of the Global Renewable Energy market in the Military sector.”
According to the report, one of the major drivers in this market is the increased adoption of de-centralized power generation. The increase in dependence on a centralized power generation center will be riskier for the Military industry, rather than using a decentralized power generation center. This is because decentralized power generation systems facilitate distributed energy generation, and eliminate the possibility of enemies attacking the military camp by cutting off the entire power supply. As decentralized power generation sources are generally renewable energy, the increase in adoption of decentralized power generation will in turn boost the growth of the Global Renewable Energy market in the Military sector.
Further, the report states that one of the major challenges in this market is the comparative low energy generation capacity. The power generation capacity of various renewable energy sources is low when compared to other non-renewable energy sources such as fossil fuels. Additionally, the availability of various renewable energy sources also fluctuates, such as wind energy and solar energy. Change in climatic conditions will affect the generation capacity of power plants using renewable energy. This can have a slight negative impact on the growth of the market in the short term.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-renewable-energy-market-in-milita…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report – Global Renewable Energy Market in the Military Sector 2014-2018
