The combination of better transport properties of III-V group semiconductors along with excellent electrostatic control of surrounding gate is a promising option for the future low power electronics. Accordingly in this brief, the major gures of merit (FOM) including output current, output conductance (g d ), transconductance generation factor (TGF), intrinsic gain (dB), and dynamic power dissipation are computed for surrounding-gate eld effect transistors (SG-FETs) considering III-V group semiconductors and Si channel material respectively with respect to different device parameters. It is noticed that the center potential is higher in AlGaN/GaN SG-FET than Si for different values of channel length (CL), channel height (H), oxide thickness (t ox ), and doping concentration (N d ). The AlGaN/GaN SG-FET provides lower g d than Si for different values of CL, H, t ox , and N d as required for MOS analog circuits to achieve higher gain. The peak value of TGF and intrinsic gain is higher in AlGaN/GaN than Si SG-FET for different values of CL, H, t ox , and N d . In this work, we have analyzed the MOSFET structure for normally off operation of AlGaN/GaN high electron mobility transistors (HEMTs) to reduce dynamic power dissipation (P D ). The magnitude of P D is calculated to be lower in normally off AlGaN/GaN SG-FET than Si for different values of CL, H, and t ox .