#defense vetronics market share

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The defense vetronics market report covers current market size and 10 year battlefield management systems market forecast It is segmented by type, region and application

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Global Defense Vetronics Market

Modern ground vehicles can be purchased with increased defence spending. In order to facilitate smooth information sharing between platforms, nations are also investing in the development of the next generation of C4ISR capabilities for land vehicles. Modern equipment and technology will be used to replace outdated land vehicles as a result of increased defence expenditure. Procurement will be impacted by the current geopolitical climate in Europe and the Asia-Pacific region.

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Military Vetronics Market Size, Share

The global military vetronics market size is projected to reach USD 8.22 billion by 2027, exhibiting a CAGR of 3.68% during the forecast period. Development of autonomous combat systems for military vehicles will ensure multi-dimensional growth of this market, observes Fortune Business Insights™ in its report, titled “Military Vetronics Market Size, Share and Global Trend by Product Type (Communication & Navigation Systems, Power System, Display System, C4 Systems, and Others) By Platform (Unmanned Ground Vehicles, Armored Amphibious Vehicles, Light Protected Vehicles, Special Purpose Vehicles, and Others) By Application (OEM and Aftermarket), and Regional Forecast, 2023-2027”. Battlefield environments are rapidly changing and modern warfare strategies require a heavy infusion of smart technologies to enhance alertness and augment the capabilities of the armed forces. In view of these evolving dynamics, defense agencies are conducting intense research to develop new technologies and equip combat vehicles with smart tools. For example, the Army Research Laboratory Artificial Intelligence for Maneuver and Mobility (AIMM) program under the U.S. Army Combat Capabilities Development Command aims to create AI-enabled vehicles that can serve robotic partners to ground troops, boosting their strength and combat capacities. The incorporation of next-generation technologies such as AI in defense systems will open new doors of innovation in the military vetronics domain.

Information Source - 

The report states that the market value stood at USD 6.48 billion in 2019 and offers the following:

Careful segmentation of the market and detailed analysis of each segment;

Unparalleled insights into the market drivers, trends, and challenges;

A comprehensive evaluation of the regional dynamics of the market; and

In-depth research into the key players’ profiles and their preferred strategies.

Restraining Factor

Economic Fallout of COVID-19 to Lead to Defense Cuts in Several Countries

The global economic crisis precipitated by the COVID-19 pandemic has forced countries to reprioritize their spending. According to the World Bank, the world economy could shrink by 8% in 2020, if financial crises in major economies continue to intensify. The International Monetary Fund (IMF) projects that output from the Eurozone could decline by 10.2% in 2020, with recovery expected to begin towards the end of 2022. These projections have spelled serious for defense sectors in most of the major economies. In India, for example, the Indian Finance Ministry instructed ministries to cut their expenditures and experts believe that defense cuts could go as low as 40% in 2020. Moreover, the nationwide lockdown between March and May 2020 led to an estimated loss of USD 3 billion for Indian defense companies. In the UK, the government has suspended budget announcement for 2021 and has undertaken an Integrated Security and Defense Review to rethink spending priorities, which are likely to lead to defense budget cuts. The military vetronics market growth is likely to suffer in this scenario.

Regional Insights

North America Market to Gain Momentum Powered by High Defense Spending by the US

In 2019, North America led the military vetronics market share with a market size of USD 2.22 billion and is expected to continue its impressive performance during the forecast period. This is primarily attributable to the massive military expenditure of the US. The country is also making heavy investments in developing and procuring advanced military technologies, which will further drive the regional market.     

In Asia Pacific, China and India are shaping the market dynamics as both countries have steadily expanded their military budgets over the past few decades. Furthermore, the constant threat of terrorist activities and increasing cross-border animosity among countries is also supporting the adoption of advanced defense technologies in the region.

Competitive Landscape

Key Players to Focus on Engaging with Government Defense Agencies

Competition in this market is characterized by the deepening engagement between government defense agencies and private defense companies. The main reason behind these public-private collaborations is that private companies provide the necessary technologies, while government agencies provide the required financial support, creating an exciting dynamic in the defense sector.

Industry Developments:

August 2020: Melbourne-based defense integrator, Tectonica, bagged a USD 25 million contract from the Australian Defense Ministry to build situational awareness systems for the country’s new fleet of Boxer Combat Reconnaissance Vehicles. The vehicles are being built by Rheinmetall Defence in Queensland.

June 2020: India’s Ministry of Defence cleared the procurement of 156 BMP 2 Infantry Vehicles for the Indian Army to modernize the existing infantry combat vehicle fleet of the Army. The total cost of the project is estimated to be INR 1,100crore.

List of Key Companies Profiled in the Military Vetronics Market Report:

Curtis Wright Corporation (The U.S.)

Thales Group (France)

Rheinmetall AG (Germany)

Lockheed Martin Corporation (The U.S.)

L3Harris Technologies, Inc. (The U.S.)

BAE Systems (The U.K)

Oshkosh Corporation (The U.S.)

Saab AB (Sweden)

Raytheon Technologies Corporation (The U.S.)

Leonardo S.p.A (Italy)

General Dynamics Corporation (The U.S.)

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Wireless Infrastructure Market Business Opportunities, Competitive Landscape and Industry Analysis Report by 2029

The global wireless infrastructure market size stood at USD 178.56 billion in 2021. The market is anticipated to rise from USD 202.43 billion in 2022 to USD 427.43 billion by 2029, at an 11.27% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Wireless Infrastructure Market, 2022-2029.” The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. 

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According to the analysis, surging demand for high-speed data across the residential and commercial sectors will trigger investments across emerging and advanced economies. A notable trend for satellite-based connectivity for the marine and defense sector will encourage investments in the portfolio. Bullish investments in 5G could provide promising growth opportunities over the next few years.

Major Players Profiled in the Report:

Capgemini Engineering (France)

Ciena Corporation (U.S.)

Cisco Systems, Inc. (U.S.)

D-Link Corporation (Taiwan)

Fujitsu (Japan)

Huawei Technologies co., Ltd. (China)

NEC Corporation (Japan)

NXP Semiconductor (Netherlands)

Qualcomm Technologies Inc. (U.S.)

ZTE Corporation (China)

Telefonaktiebolaget LM Ericsson (Sweden)

Nokia (Finland)

SAMSUNG (South Korea)

Mavenir (U.S.)

Segments

5G Connectivity to Remain Dominant with Rising Demand for High Speed

In terms of connectivity, the market is segregated into 3G, 2G, 4G & LTE, 5G, and satellite. The 5G segment will grow at a robust rate due to rising demand for broader connections, high-speed, and low latency. Growing usage of smart devices will further propel the demand for 5G technology.

Macro-cell to be Sought-after to Boost IoT, Mobile Device Coverage

With respect to infrastructure, the market is segregated into small cell, mobile core, carrier Wi-Fi, macro-cells, SATCOM, Radio Access Network (RAN), Distributed Antenna System (DAS), cloud RAN, and backhaul. The macro-cells segment will observe a notable CAGR during the forecast period, largely due to the need to boost mobile device, smartphone, and IoT device coverage.

Government & Defense Sector to Exhibit Profound Demand with Rising Investments in Military Domain

On the basis of the platform, the market is classified into commercial and government & defense. The government & defense segment is further sub-divided into homeland security, defense, and government institutions/agencies. The government & defense segment will grow due to soaring investments in the military and maritime sectors.

Report Coverage

The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers, and journals.

Drivers and Restraints

Trend for IoT-based Electronic Devices to Drive Innovations

An exponential rise in data usage on defense vetronics and smartphones could spur the wireless infrastructure market share. Bullish demand for sensors, receivers, transmitters, and processors will augur well for the industry growth. To illustrate, in October 2021, COMSovereign collaborated with Total Network Solutions (TNS) to explore how blockchain technology could improve wireless network security in the U.S. Besides, soaring demand for advanced electronics devices in the aerospace and defense sector could expedite investments across the globe. However, prevailing concerns such as breaches of data privacy and network breach could impede the industry growth.

Regional Insights

North America to Provide Promising Opportunities with Presence of Leading Companies

The U.S. and Canada could witness investments galore in the wake of the growing expansion of 5G networks and infusion of funds into the military and defense sectors. Increased demand for satellite connections will spur the demand for autonomous vehicle infrastructure will bode well for the regional growth. Prominently, industrial automation could encourage leading companies to invest in North America.

Europe wireless infrastructure market growth will be pronounced with following the implementation of robust policies. Major companies, such as Deutsche Telekom, Ericsson, Inmarsat plc and Three UK, are expected to expedite investments in advanced wireless infrastructure solutions.

The Asia Pacific market outlook will be strong on the back of the expansion of smartphone users across China, India, and Australia. Wireless communication devices are expected to be sought-after as the demand for higher-speed and low latency continues to surge across the region. It is worth noting that the digitalization of the maritime and defense sector will bode well for regional growth.

Competitive Landscape

Major Players Emphasize Meeting High Bandwidth Demand to Boost Portfolios

Leading companies are expected to invest in organic and inorganic strategies, including product launches, mergers & acquisitions, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.

Key Industry Development

November 2021 - T-Mobile Polska rolled out Long-Haul 400GbE Service with Ciena to keep up with the demand for high bandwidth from cloud and data services applications.

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Integration of 5G Technology Contributes to Global Military Communication Market Growth

As per Inkwood Research, the Global Military Communication Market is anticipated to grow with a CAGR of 3.75% in terms of revenue over the forecast period of 2023-2032.

“Browse 54 market Data Tables and 44 Figures spread over 175 Pages, along with an in-depth TOC on the Global Military Communication Market Forecast 2023-2032.”

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Military communication is established on a sophisticated network of personnel, resources, as well as protocols that enable information sharing between various parties. Moreover, by relying on a new generation of technical solutions and supporting the communications revolution, threats to soldiers’ safety during operations are substantially minimized.

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Integration of 5G Technology to Propel Market Growth

5G is anticipated to deliver higher data at a faster speed, subsequently transforming military mobile platform distribution services as well as technologies such as bioinformatics, the Internet of Things (IoT), autonomous vehicles, and tactile internet. 5G also has the potential to become the connectivity fabric underpinning modern cloud-based AI-assisted distributed sensing efforts. Accordingly, the Department of Defense is expected to be a 5G customer and facilitator, advancing operational efficacy while enabling the development of the digital economy. Hence, the integration of 5G is set to play a vital role in fueling the global military communication market growth.

Army to be the Prominent Defense Force

The majority of the army’s internal combat, as well as materiel development programs, have strongly emphasized the enhancement of battlefield commanders’ capacity for knowledge use. Moreover, in recognition of the importance of information protection, the army has consistently highlighted the demand for impermeable and secure communications, in addition to the safety of automated systems from exploitation, intrusion, or the introduction of computer viruses.

North America to Hold Highest Share of the Global Market

The United States Armed Forces are frequently cited as having the strongest military globally. Furthermore, reliable communication, integrated with command-and-control and other units, has become integral to the increasingly communications-dependent battlefront environment, as well.

As the global military communications market continues to expand, there is fierce competition among industry competitors. Some of the leading players operating in the global military communication market are BAE Systems, General Dynamics, Thales Group, etc.

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Vetronics Market | Global Trends & Military Opportunities

Aerospace and Defense

29, September 2022

Technology has significantly advanced, playing a crucial role in several industries. The paradigm for R&D in the defense sector has evolved investments in vetronics. This is a result of the growing trend across different defense forces to equip military vehicles with technologically sophisticated electronic systems.

According to our experts, the global vetronics market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028, with a CAGR of 5.62% during the forecast period 2022-2028.

Vetronics, also known as vehicle electronics, enables military units to implement and integrate systems such as communication, command and control, vehicle warfare, navigation, vehicle protection, and surveillance. Over the years, its relevance has increased as defense departments seek to make their armed forces lighter, faster, and more deployable.

Integration of Digitalization in Battlefield Operations

The digitization of domains such as communication and surveillance is critical in the integrated operations of the modern battlefield. Electronic warfare has already been adopted as a sub-domain by the majority of advanced nations. They actively engage in advanced capability research to equip their forces and gain a tactical advantage over their competitors.

For example, the US Army is testing the Electronic Warfare Tactical Vehicle (EWTV), containing an unspecified specification of radio jamming equipment. It can detect and disrupt a wide range of signals, from cellphones to enemy UAV control links.

Factors such as ease of deployment and a broad range of sensing and disruption are key features incorporated in modern armored vehicle-mounted jamming systems that increase their utility. The rapid adoption of such technology is expected to drive the studied market during the forecast period.

Additionally, the ongoing military modernization programs in respective armies worldwide have increased the number of land-based vehicles. Our study suggests tanks are the fastest growing land-based fleet type segment, with a CAGR of 5.82% during the forecast period. The development is due to the interconnection systems of the new tanks. The technological update enables tanks to integrate with wheeled armored vehicles outfitted with standard vetronics to collect and transform battlefield sensor data into high-value security and combat services.

Impact of Competitors’ Strategic Initiatives

The global vetronics market is highly fragmented, with key players controlling significant market shares. Major companies like Thales Group, Lockheed Martin Corporation, and L3Harris Technologies continue to invest in the R&D of military robotics and related subsystems. Such measures have enabled them to expand the spectrum of applications for their distinctive and exclusive product line of vetronics.

The market participants’ operations focus on designing, engineering, and manufacturing high-performance vetronics for the world’s armed forces’ terrestrial assets. Furthermore, because a contract for armored vehicles necessitates high technological expertise, the companies are merging to enhance their current portfolio.

Some of the examples are listed below-

Collins Aerospace Military Global Positioning System (GPS) division was successfully acquired by BAE Systems, bringing decades of experience, cutting-edge technology, and a sizable installed base of products.

With the purchase of Gemalto by Thales for €4.8 billion, the acquisition will cover every step of the important decision-making process in the digital age, from sensor-generated data to real-time decision support.

Curtiss-Wright Corporation announced on July 5, 2022, that it had successfully acquired the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The acquisition of Safran’s arresting systems division solidifies Curtiss-position Wright as the world’s leading recovery and arresting systems provider for fixed-wing aircraft. Curtiss-Naval Wright’s & Power division will include the company.

Key Challenges & Regional Opportunities

Although cuts in the defense budget and the rising cost of raw materials can challenge the vetronics market, it is continuously expanding due to breakthrough technology in military vehicles.

The current fiscal condition worldwide is the key barrier to the market’s expansion. Many emergent breakthroughs offer considerable long-term benefits but need significant investments in deploying new technologies and platforms.

Based on the global scenario, the North America vetronics market held the largest share in 2021 and is expected to maintain its stronghold throughout the forecasting period. The region is witnessing considerable growth, owing to its military and government efforts to modernize its army and fleet.

Additionally, the United States is the key contributor to the regional market, accounting for 96.93% of the share in 2021. The country’s large market share is due to the rapid development of venture capital markets. For instance, American Rheinmetall Systems has received a multi-million-dollar investment to offer cutting-edge combat vehicle mission systems technologies to support the modernization of US Army combat vehicles.

FAQ

Ques 1: Which segments are studied in the Vetronics Market?

Land-based fleet type, component and vertical are the segments studied in vetronics market.

Ques 2: What are the key component of vetronics market?

Electronic Warfare & C4 Systems, Navigation Systems, Power Systems, and Vehicle Protection Systems are the key component of vetronics market.

[tritonmarketresearch]

Vetronics Market | Global Trends & Military Opportunities

Technology has significantly advanced, playing a crucial role in several industries. The paradigm for R&D in the defense sector has evolved investments in vetronics. This is a result of the growing trend across different defense forces to equip military vehicles with technologically sophisticated electronic systems.

According to our experts, the global vetronics market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028, with a CAGR of 5.62% during the forecast period 2022-2028.

Vetronics, also known as vehicle electronics, enables military units to implement and integrate systems such as communication, command and control, vehicle warfare, navigation, vehicle protection, and surveillance. Over the years, its relevance has increased as defense departments seek to make their armed forces lighter, faster, and more deployable.

Integration of Digitalization in Battlefield Operations

The digitization of domains such as communication and surveillance is critical in the integrated operations of the modern battlefield. Electronic warfare has already been adopted as a sub-domain by the majority of advanced nations. They actively engage in advanced capability research to equip their forces and gain a tactical advantage over their competitors.

For example, the US Army is testing the Electronic Warfare Tactical Vehicle (EWTV), containing an unspecified specification of radio jamming equipment. It can detect and disrupt a wide range of signals, from cellphones to enemy UAV control links.

Factors such as ease of deployment and a broad range of sensing and disruption are key features incorporated in modern armored vehicle-mounted jamming systems that increase their utility. The rapid adoption of such technology is expected to drive the studied market during the forecast period.

Additionally, the ongoing military modernization programs in respective armies worldwide have increased the number of land-based vehicles. Our study suggests tanks are the fastest growing land-based fleet type segment, with a CAGR of 5.82% during the forecast period. The development is due to the interconnection systems of the new tanks. The technological update enables tanks to integrate with wheeled armored vehicles outfitted with standard vetronics to collect and transform battlefield sensor data into high-value security and combat services.

Impact of Competitors’ Strategic Initiatives

The global vetronics market is highly fragmented, with key players controlling significant market shares. Major companies like Thales Group, Lockheed Martin Corporation, and L3Harris Technologies continue to invest in the R&D of military robotics and related subsystems. Such measures have enabled them to expand the spectrum of applications for their distinctive and exclusive product line of vetronics.

The market participants’ operations focus on designing, engineering, and manufacturing high-performance vetronics for the world’s armed forces’ terrestrial assets. Furthermore, because a contract for armored vehicles necessitates high technological expertise, the companies are merging to enhance their current portfolio.

Some of the examples are listed below-

Collins Aerospace Military Global Positioning System (GPS) division was successfully acquired by BAE Systems, bringing decades of experience, cutting-edge technology, and a sizable installed base of products.

With the purchase of Gemalto by Thales for €4.8 billion, the acquisition will cover every step of the important decision-making process in the digital age, from sensor-generated data to real-time decision support.

Curtiss-Wright Corporation announced on July 5, 2022, that it had successfully acquired the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The acquisition of Safran’s arresting systems division solidifies Curtiss-position Wright as the world’s leading recovery and arresting systems provider for fixed-wing aircraft. Curtiss-Naval Wright’s & Power division will include the company.

Key Challenges & Regional Opportunities

Although cuts in the defense budget and the rising cost of raw materials can challenge the vetronics market, it is continuously expanding due to breakthrough technology in military vehicles.

The current fiscal condition worldwide is the key barrier to the market’s expansion. Many emergent breakthroughs offer considerable long-term benefits but need significant investments in deploying new technologies and platforms.

Based on the global scenario, the North America vetronics market held the largest share in 2021 and is expected to maintain its stronghold throughout the forecasting period. The region is witnessing considerable growth, owing to its military and government efforts to modernize its army and fleet.

Additionally, the United States is the key contributor to the regional market, accounting for 96.93% of the share in 2021. The country’s large market share is due to the rapid development of venture capital markets. For instance, American Rheinmetall Systems has received a multi-million-dollar investment to offer cutting-edge combat vehicle mission systems technologies to support the modernization of US Army combat vehicles.

[riannatriton]

Vetronics Market | Global Trends & Military Opportunities

Technology has significantly advanced, playing a crucial role in several industries. The paradigm for R&D in the defense sector has evolved investments in vetronics. This is a result of the growing trend across different defense forces to equip military vehicles with technologically sophisticated electronic systems.

According to our experts, the global vetronics market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028, with a CAGR of 5.62% during the forecast period 2022-2028.

Vetronics, also known as vehicle electronics, enables military units to implement and integrate systems such as communication, command and control, vehicle warfare, navigation, vehicle protection, and surveillance. Over the years, its relevance has increased as defense departments seek to make their armed forces lighter, faster, and more deployable.

Integration of Digitalization in Battlefield Operations

The digitization of domains such as communication and surveillance is critical in the integrated operations of the modern battlefield. Electronic warfare has already been adopted as a sub-domain by the majority of advanced nations. They actively engage in advanced capability research to equip their forces and gain a tactical advantage over their competitors.

For example, the US Army is testing the Electronic Warfare Tactical Vehicle (EWTV), containing an unspecified specification of radio jamming equipment. It can detect and disrupt a wide range of signals, from cellphones to enemy UAV control links.

Factors such as ease of deployment and a broad range of sensing and disruption are key features incorporated in modern armored vehicle-mounted jamming systems that increase their utility. The rapid adoption of such technology is expected to drive the studied market during the forecast period.

Additionally, the ongoing military modernization programs in respective armies worldwide have increased the number of land-based vehicles. Our study suggests tanks are the fastest growing land-based fleet type segment, with a CAGR of 5.82% during the forecast period. The development is due to the interconnection systems of the new tanks. The technological update enables tanks to integrate with wheeled armored vehicles outfitted with standard vetronics to collect and transform battlefield sensor data into high-value security and combat services.

Impact of Competitors’ Strategic Initiatives

The global vetronics market is highly fragmented, with key players controlling significant market shares. Major companies like Thales Group, Lockheed Martin Corporation, and L3Harris Technologies continue to invest in the R&D of military robotics and related subsystems. Such measures have enabled them to expand the spectrum of applications for their distinctive and exclusive product line of vetronics.

The market participants’ operations focus on designing, engineering, and manufacturing high-performance vetronics for the world’s armed forces’ terrestrial assets. Furthermore, because a contract for armored vehicles necessitates high technological expertise, the companies are merging to enhance their current portfolio. Some of the examples are listed below-

Collins Aerospace Military Global Positioning System (GPS) division was successfully acquired by BAE Systems, bringing decades of experience, cutting-edge technology, and a sizable installed base of products.

With the purchase of Gemalto by Thales for €4.8 billion, the acquisition will cover every step of the important decision-making process in the digital age, from sensor-generated data to real-time decision support.

Curtiss-Wright Corporation announced on July 5, 2022, that it had successfully acquired the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The acquisition of Safran’s arresting systems division solidifies Curtiss-position Wright as the world’s leading recovery and arresting systems provider for fixed-wing aircraft. Curtiss-Naval Wright’s & Power division will include the company.

Key Challenges & Regional Opportunities

Although cuts in the defense budget and the rising cost of raw materials can challenge the vetronics market, it is continuously expanding due to breakthrough technology in military vehicles.

The current fiscal condition worldwide is the key barrier to the market’s expansion. Many emergent breakthroughs offer considerable long-term benefits but need significant investments in deploying new technologies and platforms.

Based on the global scenario, the North America vetronics market held the largest share in 2021 and is expected to maintain its stronghold throughout the forecasting period. The region is witnessing considerable growth, owing to its military and government efforts to modernize its army and fleet.

Additionally, the United States is the key contributor to the regional market, accounting for 96.93% of the share in 2021. The country’s large market share is due to the rapid development of venture capital markets. For instance, American Rheinmetall Systems has received a multi-million-dollar investment to offer cutting-edge combat vehicle mission systems technologies to support the modernization of US Army combat vehicles.

[someshd95]

Military Vetronics Market Share, Application Analysis, Regional Outlook, Competitive Strategies and Forecast by 2028

Military Vetronics Market Analysis and Insights

The Military Vetronics Market size is valued at USD 5,256.18 million by 2028 and is expected to grow at a compound annual growth rate of 2.80% over the forecast period of 2021 to 2028. Data Bridge Market Research report on military vetronics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

The vetronics consist of the electronic components related with vehicles that are primarily operated by the defense organization. These include various systems and are used for the purpose enhancing combat potential and situational awareness of the military vehicles. These systems are essential in improving the efficiency of land vehicles and their role in integrated network-centric warfare operations.

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The military vetronics market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the high demand for unmanned aerial vehicles and drones. In addition, the rise in requirement of vetronics systems with increased situational awareness and increase in arms acquisition budget across the globe are also largely influencing the growth of the military vetronics market. Also the increase in defense expenditure, particularly in emerging economies and ensuing investments in procuring such systems are another driver anticipated to flourish the military vetronics market growth. Additionally, the rise in the incidences of asymmetric and network-centric warfare is also expected to boost the growth of the military vetronics market in the above mentioned forecast period.

However, the market of military vetronics though has certain limitations which are expected to obstruct the potential growth of the market such as the high intervention of government bodies and rise in threat of cyber-attacks, whereas the reduction in defense budget can challenge the growth of the military vetronics market in the above mentioned forecast period.

In addition, the rapid technological developments in C3 systems, rise in terrorist attacks and focus on counter operations and rapid shift in trend towards embedded systems are projected to offer various growth opportunities for the military vetronics market in the forecast period of 2021 to 2028.

This military vetronics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the military vetronics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Military Vetronics Market Scope and Market Size

The military vetronics market is segmented on the basis of system, platform, fit, application and end use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of system, the military vetronics market is segmented into command, control and communications (C3) system, navigation system, weapon control system, power system and vehicle protection system.

Based on platform, the military vetronics market is segmented into light armored vehicle, main battle tank, mine-resistant ambush protection (MRAP) vehicle, infantry fighting vehicle (IFV), unmanned armored ground vehicle and amphibious vehicle.

On the basis of fit, the military vetronics market is segmented into line fit and retro fit.

The military vetronics market is segmented on the basis of application into defense and homeland security.

On the basis of end use, the military vetronics market is segmented into OEM and aftermarket.

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Military Vetronics Market Country Level Analysis

The military vetronics market is analyzed and market size, volume information is provided by country, system, platform, fit, application and end use as referenced above.

The countries covered in the military vetronics market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America leads the military vetronics market because of the presence of major defense enterprises, huge defense spending and undergoing government modernization programs. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rise in the threat of terrorist activities.

The country section of the military vetronics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Military Vetronics Market Share Analysis

The military vetronics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to military vetronics market.

The major players covered in the military vetronics market report are BAE Systems, Lockheed Martin Corporation, General Dynamics Corporation, Raytheon Company, Thales Group, Curtiss-Wright, L3Harris Technologies, Inc., Rheinmetall AG, Saab AB, Elbit Systems Ltd., Kongsberg, Oshkosh Defense, LLC, TE Connectivity and GENERAL ELECTRIC COMPANY among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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[basicchemicals]

Military Vetronics market by application - Opportunities and Forecasts, 2021-2027

Market Overview

Vetronics (vehicle electronics) are used in military land vehicles to enable navigation, observation, and communication. They can help in the exchange of inter-vehicular or intra-vehicular information. These systems increase warfare capabilities by facilitating the military in their intelligence, surveillance, and reconnaissance missions.

The global Military Vetronics market  is expected to grow steadily in the next few years. This growth is driven by the rising demand for advanced vetronics systems enabling enhanced performance, military modernization programs, and changing nature of warfare (technology-centric warfare) among others. Demand from major markets such as Europe and the US, along with the rising demand from emerging nations in the APAC is also expected to be a major factor for the market growth.  

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 Competitive Landscape

Western vendors mainly dominate the initiatives for OSA, which has become an integral aspect of vetronics. The British Generic Vehicle Architecture and American VICTORY system is paving the path to ongoing and future OSA adoption.

The Military Vetronics market  is highly competitive and vendors compete on the basis of cost, product quality, reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality vetronics systems.

Market Segmentation

For the convenience of the report and enhanced understanding; the Military Vetronics market  is segmented in to three key dynamics

Segmentation by Vehicle Type: Light Protected Vehicles, Unmanned Ground Vehicles, Armored Amphibious Vehicles, and Special Purpose Vehicles.

Segmentation by System: (Communication, Navigation, C3 Systems, and Power Systems).

Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.

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Regional Analysis

The traditional markets in the US and Europe have been extensively spending for military modernization along with the upgrades of existing military land vehicle fleets. It helps to maintain the operability of the existing land vehicles rather than replacing the entire fleet of ageing vehicles. Meanwhile, the emerging nations are also buying new land vehicles as the additional strength to their respective military forces. Emerging nations such as China, and India, have a large number of military troops, and land military is one of the major force for border defense in both the countries. In the present scenario of increased security concerns, these nations have increased their respective defense budgets, and also for purchase and upgrade of military land vehicles and vetronics.

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[numberonepeacetragedy]

Global Military Electro-Optical and Infrared Systems Market poised to grow at a CAGR around 7% during the forecast period

The global Military Electro-Optical and Infrared Systems market is expected to grow at a CAGR of around 7% during 2016-2021. As per the MRFR analysis, this growth is driven by growing demand for vetronics, and investments in InGaAs detector systems.

Factors impacting the market are declining defense budget in US and UK and regulatory issues with regards to all three platforms (air, naval, and land). Shifting trend towards EO/Laser Guidance Systems is also significantly contributing towards the increase in demand.

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Americas to dominate the Global Military Electro-Optical and Infrared Systems Market in 2021

Americas will dominate the electro optic and infrared sensor market during the forecast period. With increased investment and procurement of weapons systems in land, naval, and air platforms, APAC will register the maximum growth in the forecast period.

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This report includes a study of strategies of major market players in the Global Military Electro-Optical and Infrared Systems Market include Raytheon, Lockheed Martin, L-3 Communications Holdings, Inc. BAE Systems Plc. Thales group, DRS Technologies, Northrop Grumman, Elbit Systems Ltd., Harris Corporation, RheinmetallDefence AG, Textron, Rockwell Collins, II-VI, Inc., and Ultra Electronics Holdings

This research report provides detailed insights, into various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Military Electro-Optical and Infrared Systems Market, including the high-growth regions, countries and their political, economical and technological environments. Furthermore, the project report also provides views over the historic market values as well as, pricing and cost analysis of the same. 

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[aviationd]

The defense vetronics market report covers current market size and 10 year battlefield management systems market forecast It is segmented by type, region and application

[fortunebusiness]

Military Vetronics Market  Share, Globe Key Updates, Demand, Size, and Industry Forecast to 2027

The global military vetronics market size is projected to reach USD 8.22 billion by 2027, exhibiting a CAGR of 3.68% during the forecast period. Development of autonomous combat systems for military vehicles will ensure multi-dimensional growth of this market, observes Fortune Business Insights™ in its report, titled “Military Vetronics Market Size, Share & COVID-19 Impact Analysis, By Product Type (Communication & Navigation Systems, Power System, Display System, C4 Systems, and Others), By Platform (Unmanned Ground Vehicles, Armored Amphibious Vehicles, Light Protected Vehicles, Special Purpose Vehicles, and Others), By Application (OEM and Aftermarket), and Regional Forecast, 2020-2027”. Battlefield environments are rapidly changing and modern warfare strategies require a heavy infusion of smart technologies to enhance alertness and augment the capabilities of the armed forces. In view of these evolving dynamics, defense agencies are conducting intense research to develop new technologies and equip combat vehicles with smart tools.

For example, the Army Research Laboratory Artificial Intelligence for Maneuver and Mobility (AIMM) program under the U.S. Army Combat Capabilities Development Command aims to create AI-enabled vehicles that can serve robotic partners to ground troops, boosting their strength and combat capacities. The incorporation of next-generation technologies such as AI in defense systems will open new doors of innovation in the military vetronics domain.

List of Top Companies Covered in the Global Military Vetronics Market are:

Curtis Wright Corporation (The U.S.)

Thales Group (France)

Rheinmetall AG (Germany)

Lockheed Martin Corporation (The U.S.)

L3Harris Technologies, Inc. (The U.S.)

BAE Systems (The U.K)

Oshkosh Corporation (The U.S.)

Saab AB (Sweden)

Raytheon Technologies Corporation (The U.S.)

Leonardo S.p.A (Italy)

General Dynamics Corporation (The U.S.)

The report states that the market value stood at USD 6.48 billion in 2019 and offers the following:

Careful segmentation of the market and detailed analysis of each     segment;

Unparalleled insights into market drivers, trends, and challenges;

A comprehensive evaluation of the regional dynamics of the market;     and

In-depth research into the key players’ profiles and their     preferred strategies.

Restraining Factor

Economic Fallout of COVID-19 to Lead to Defense Cuts in Several Countries

The global economic crisis precipitated by the COVID-19 pandemic has forced countries to reprioritize their spending. According to the World Bank, the world economy could shrink by 8% in 2020, if financial crises in major economies continue to intensify. The International Monetary Fund (IMF) projects that output from the Eurozone could decline by 10.2% in 2020, with recovery expected to begin towards the end of 2022. These projections have spelled serious for defense sectors in most of the major economies. In India, for example, the Indian Finance Ministry instructed ministries to cut their expenditures and experts believe that defense cuts could go as low as 40% in 2020. Moreover, the nationwide lockdown between March and May 2020 led to an estimated loss of USD 3 billion for Indian defense companies. In the UK, the government has suspended budget announcement for 2021 and has undertaken an Integrated Security and Defense Review to rethink spending priorities, which are likely to lead to defense budget cuts. The military vetronics market growth is likely to suffer in this scenario.  

Regional Insights

North America Market to Gain Momentum Powered by High Defense Spending by the US In 2019, North America led the military vetronics market share with a market size of USD 2.22 billion and is expected to continue its impressive performance during the forecast period. This is primarily attributable to the massive military expenditure of the US. The country is also making heavy investments in developing and procuring advanced military technologies, which will further drive the regional market.     

In Asia Pacific, China and India are shaping the market dynamics as both countries have steadily expanded their military budgets over the past few decades. Furthermore, the constant threat of terrorist activities and increasing cross-border animosity among countries is also supporting the adoption of advanced defense technologies in the region.

Competitive Landscape

Key Players to Focus on Engaging with Government Defense Agencies

Competition in this market is characterized by the deepening engagement between government defense agencies and private defense companies. The main reason behind these public-private collaborations is that private companies provide the necessary technologies, while government agencies provide the required financial support, creating an exciting dynamic in the defense sector.

Key Industry Developments:

August 2020: Melbourne-based     defense integrator, Tectonica, bagged a USD 25 million contract from the     Australian Defense Ministry to build situational awareness systems for the     country’s new fleet of Boxer Combat Reconnaissance Vehicles. The vehicles     are being built by Rheinmetall Defence in Queensland.

June 2020: India’s Ministry of Defence cleared the     procurement of 156 BMP 2 Infantry Vehicles for the Indian Army to     modernize the existing infantry combat vehicle fleet of the Army. The     total cost of the project is estimated to be INR 1,100crore.

Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/military-vetronics-market-104062

 Detailed Table of Content:

 Research Scope

 Market Segmentation

 Research Methodology

 Definitions and Assumptions

 Market Drivers

 Market Restraints

 Market Opportunities

 Key Industry Developments –Mergers, Acquisitions and Partnerships

 Latest technological Advancements

 Porters Five Forces Analysis

 Supply Chain Analysis

Quantitative Insights- Impact of COVID-19 Pandemic on Military     Vetronics Market

  Communication System and Navigation System

  Power System

  Display System

  C4 System

  Others

    Unmanned Ground Vehicles

  Main Battle Tanks and other Armored Vehicles

  Light Protected Vehicles

  Special Purpose Vehicles

  Amphibious Vehicles

  Others

    OEM

  Aftermarket

    North America

  Europe

  Asia pacific

  Rest of the world

 ·          

 Impact of COVID-19 on Global Military Vetronics Market

 Steps Taken by Industry/Companies/Governments to Overcome the      Impact

 Key Developments in The Industry in Response To COVID-19 Pandemic

 Potential Opportunities Due to COVID-19 Outbreak

TOC Continued…!

 Have a Look at Related Research Insights:

Avionics Market Size, Share & COVID-19 Impact Analysis, By System (Hardware and Software), Platform (Commercial, Military, Business Jets, General Aviation), End-Use (OEM and Aftermarket), and Regional Forecast, 2020-2027

Voice Communication Control System Market Size, Share and COVID-19 Impact Analysis, By Solution (Hardware, Software, and Services), By Platform (Air, Ground, and Maritime), By Application (Air Traffic Control, Vessel Traffic Control, Strategic Emergency Services, and Others), By End User (Commercial, and Defense), and Regional Forecast, 2020 – 2027

Armored Vehicle Market Size, Share and Industry Analysis, By Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles), By Mobility (Wheeled, Tracked), By System (Engine, Drive Systems, Ballistic Armor, Turret Drives, Ammunition Handling Systems, Others) and Regional Forecast, 2019-2026

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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[rohitinkwood]

Integration of 5G Technology Contributes to Global Military Communication Market Growth

As per Inkwood Research, the Global Military Communication Market is anticipated to grow with a CAGR of 3.75% in terms of revenue over the forecast period of 2022-2030.

“Browse 54 market Data Tables and 44 Figures spread over 175 Pages, along with an in-depth TOC on the Global Military Communication Market Forecast 2022-2030.”

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Military communication is established on a sophisticated network of personnel, resources, as well as protocols that enable information sharing between various parties. Moreover, by relying on a new generation of technical solutions and supporting the communications revolution, threats to soldiers’ safety during operations are substantially minimized.

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Integration of 5G Technology to Propel Market Growth

5G is anticipated to deliver higher data at a faster speed, subsequently transforming military mobile platform distribution services as well as technologies such as bioinformatics, the Internet of Things (IoT), autonomous vehicles, and tactile internet. 5G also has the potential to become the connectivity fabric underpinning modern cloud-based AI-assisted distributed sensing efforts. Accordingly, the Department of Defense is expected to be a 5G customer and facilitator, advancing operational efficacy while enabling the development of the digital economy. Hence, the integration of 5G is set to play a vital role in fueling the global military communication market growth.

Army to be the Prominent Defense Force

The majority of the army’s internal combat, as well as materiel development programs, have strongly emphasized the enhancement of battlefield commanders’ capacity for knowledge use. Moreover, in recognition of the importance of information protection, the army has consistently highlighted the demand for impermeable and secure communications, in addition to the safety of automated systems from exploitation, intrusion, or the introduction of computer viruses.

North America to Hold Highest Share of the Global Market

The United States Armed Forces are frequently cited as having the strongest military globally. Furthermore, reliable communication, integrated with command-and-control and other units, has become integral to the increasingly communications-dependent battlefront environment, as well.

As the global military communications market continues to expand, there is fierce competition among industry competitors. Some of the leading players operating in the global military communication market are BAE Systems, General Dynamics, Thales Group, etc.

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[tritonmarketresearch]

Vetronics Market | Global Trends & Military Opportunities

Technology has significantly advanced, playing a crucial role in several industries. The paradigm for R&D in the defense sector has evolved investments in vetronics. This is a result of the growing trend across different defense forces to equip military vehicles with technologically sophisticated electronic systems.

According to our experts, the global vetronics market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028, with a CAGR of 5.62% during the forecast period 2022-2028.

Vetronics, also known as vehicle electronics, enables military units to implement and integrate systems such as communication, command and control, vehicle warfare, navigation, vehicle protection, and surveillance. Over the years, its relevance has increased as defense departments seek to make their armed forces lighter, faster, and more deployable.

Integration of Digitalization in Battlefield Operations

The digitization of domains such as communication and surveillance is critical in the integrated operations of the modern battlefield. Electronic warfare has already been adopted as a sub-domain by the majority of advanced nations. They actively engage in advanced capability research to equip their forces and gain a tactical advantage over their competitors.

For example, the US Army is testing the Electronic Warfare Tactical Vehicle (EWTV), containing an unspecified specification of radio jamming equipment. It can detect and disrupt a wide range of signals, from cellphones to enemy UAV control links.

Factors such as ease of deployment and a broad range of sensing and disruption are key features incorporated in modern armored vehicle-mounted jamming systems that increase their utility. The rapid adoption of such technology is expected to drive the studied market during the forecast period.

Additionally, the ongoing military modernization programs in respective armies worldwide have increased the number of land-based vehicles. Our study suggests tanks are the fastest growing land-based fleet type segment, with a CAGR of 5.82% during the forecast period. The development is due to the interconnection systems of the new tanks. The technological update enables tanks to integrate with wheeled armored vehicles outfitted with standard vetronics to collect and transform battlefield sensor data into high-value security and combat services.

Impact of Competitors’ Strategic Initiatives

The global vetronics market is highly fragmented, with key players controlling significant market shares. Major companies like Thales Group, Lockheed Martin Corporation, and L3Harris Technologies continue to invest in the R&D of military robotics and related subsystems. Such measures have enabled them to expand the spectrum of applications for their distinctive and exclusive product line of vetronics.

The market participants’ operations focus on designing, engineering, and manufacturing high-performance vetronics for the world’s armed forces’ terrestrial assets. Furthermore, because a contract for armored vehicles necessitates high technological expertise, the companies are merging to enhance their current portfolio.

Some of the examples are listed below-

Collins Aerospace Military Global Positioning System (GPS) division was successfully acquired by BAE Systems, bringing decades of experience, cutting-edge technology, and a sizable installed base of products.

With the purchase of Gemalto by Thales for €4.8 billion, the acquisition will cover every step of the important decision-making process in the digital age, from sensor-generated data to real-time decision support.

Curtiss-Wright Corporation announced on July 5, 2022, that it had successfully acquired the Safran Aerosystems Arresting Company (SAA) for $240 million in cash. The acquisition of Safran’s arresting systems division solidifies Curtiss-position Wright as the world’s leading recovery and arresting systems provider for fixed-wing aircraft. Curtiss-Naval Wright’s & Power division will include the company.

Key Challenges & Regional Opportunities

Although cuts in the defense budget and the rising cost of raw materials can challenge the vetronics market, it is continuously expanding due to breakthrough technology in military vehicles.

The current fiscal condition worldwide is the key barrier to the market’s expansion. Many emergent breakthroughs offer considerable long-term benefits but need significant investments in deploying new technologies and platforms.

Based on the global scenario, the North America vetronics market held the largest share in 2021 and is expected to maintain its stronghold throughout the forecasting period. The region is witnessing considerable growth, owing to its military and government efforts to modernize its army and fleet.

Additionally, the United States is the key contributor to the regional market, accounting for 96.93% of the share in 2021. The country’s large market share is due to the rapid development of venture capital markets. For instance, American Rheinmetall Systems has received a multi-million-dollar investment to offer cutting-edge combat vehicle mission systems technologies to support the modernization of US Army combat vehicles.

[riannatriton]

Advancement in Battlefield Technology to Drive Vetronics Market Growth

Triton Market Research presents the Global Vetronics Market report sectioned by Land-based Fleet Type (Tanks, Armored Vehicles, Artillery, Rocket Projectors), Component (Electronic Warfare & C4 Systems, Navigation Systems, Power Systems, Vehicle Protection Systems), Vertical (Defense, Homeland Security), and Regional Outlook (Europe, Middle East and Africa, Latin America, North America, Asia-Pacific). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Industry Components, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

The report by Triton suggests that the global vetronics market is estimated to witness a growth at a CAGR of 5.62% during the forecast period 2022-2028.

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Due to battlefield demands and operational circumstances, advanced sensor technologies, more powerful processing, increased connectivity, and system interoperability (VICTORY) have become imperative. Integrating these advanced sensors places a high demand on the bandwidth and power of vehicle infrastructure.

The dispersed and asymmetrical nature of the terrain creates a greater need for versatile, effective, and resilient combat skills. Coordinated warfare, which includes manned and unmanned vehicles, ground forces, and others, communicates combat intelligence in real time via integrated land-air-sea intelligence. This is what distinguishes today’s organized battlefield from those fought decades ago. Integrated, coordinated warfare improves force efficiency significantly by rapidly utilizing all-source data. They further provide precise data to field commanders, sharing situational images, coordinating day/night operations in all weather conditions, and preventing fire-friendly fatalities. Thus, advancements in battlefield technology are expected to drive the growth of the vetronics market.

However, the cut-offs in the defense budget, the rising cost of raw materials, and usability regulations are expected to hamper the growth of the vetronics market.

North America is expected to be the fastest-growing region in the vetronics market. The region’s growth is due to market players such as General Dynamics, Raytheon Technologies, L3Harris Technologies, Lockheed Martin, etc. These companies are working with the US Army on several other land-based platform projects to modernize their fleet, which is expected to boost the vetronics market’s growth in the region.

The prominent companies in the vetronics market include Leonardo S.p.A, Thales Group, Curtiss-Wright, Lockheed Martin Corporation, Raytheon Technologies, Rheinmetall AG, General Dynamics Corporation, Saab AB, L3Harris Technologies, and BAE Systems.

Although the market for vehicle electronics is starting to expand, there is fierce competition among the players. However, the major market participants have decades of combined expertise and have been active in the market for several decades. When it comes to contract orders, the industry is constrained by competition, most of which are comparable in size. Despite the small number of contracts, each one has a significant value. Some primary variables contributing to this rivalry include the functionality of the components, timely servicing, and affordability.

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