A permanent magnet assisted synchronous reluctance generator (PMA-SynRG) and an induction generator (IG) were compared for portable generator applications. PMA-SynRG with two rotor configurations, namely rotors with ferrite magnet and NdFeB, were designed. Furthermore, a design strategy for both PMA-SynRG and IG is presented with their geometrical dimensions. The machine was designed and results were analyzed using finite element analysis. Results such as flux density, open circuit and full load voltages, torque in generating mode, weight comparison and detailed cost analysis were investigated. In addition, thermal analysis for various ambient conditions (−40 °C, +30 °C, +65 °C) was evaluated for both PMA-SynRG and IG. Furthermore, acoustic versus frequency plot and acoustic pressure level were investigated for both the generators. Finally, the results confirmed that the machine with a higher power-to-weight ratio was the right choice for military applications.