Global Military Vetronics Market, By System (Command, Control and Communications (C3) System, Navigation System, Weapon Control System, Power System, Vehicle Protection System), Platform (Light Armored Vehicle, Main Battle Tank, Mine-Resistant Ambush Protection (MRAP) Vehicle, Infantry Fighting Vehicle (IFV), Unmanned Armored Ground Vehicle, Amphibious Vehicle), Fit (Line Fit, Retro Fit), Application (Defense, Homeland Security), End User (OEM, Aftermarket) - Industry Trends and Forecast to 2030.
Military Vetronics Market Analysis and Size
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. High demand for unmanned aerial vehicles and drones is expected to influence the growth of Military Vetronics market over the forecast period of 2023 to 2030. The rise in demand for connect devices across the globe is one of the major factors driving the growth of the global military vetronics market.
Data Bridge Market Research analyses that the global military vetronics market was USD 3,997.03 million in 2022, and is expected to reach USD 5,758.57 million by 2030, and is expected to grow at a CAGR of 4.67% during the forecast period of 2023 to 2030. “Command” dominates the system segment of the global military vetronics market due to demand from growing markets. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Military Vetronics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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System (Command, Control and Communications (C3) System, Navigation System, Weapon Control System, Power System, Vehicle Protection System), Platform (Light Armored Vehicle, Main Battle Tank, Mine-resistant Ambush Protection (MRAP) Vehicle, Infantry Fighting Vehicle (IFV), Unmanned Armored Ground Vehicle, Amphibious Vehicle), Fit (Line Fit, Retro Fit), Application (Defense, Homeland Security), End User (OEM, Aftermarket)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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BAE Systems (U.K.), General Dynamics Corporation (U.S.), L3Harris Technologies, Inc. (U.S.), Leonardo S.p.A (Italy), Lockheed Martin Corporation (U.S.), Raytheon Technologies Corporation (U.S.), Rheinmetall AG (Germany), Saab AB (Sweden), Thales Group (France), Oshkosh Corporation (U.S.), Curtiss Wright Corporation (U.S.)
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Market Opportunities
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Market Definition
Military vetronics consist of several electronic systems installed on a vehicle that control functions such as communication, navigation, and weapons. The system includes components from boards and chips to displays and power electronics. Real-time data collected and analyzed by electronic systems flows over the wireless, which provides soldiers with situational awareness, specifically in battlefield settings. The increasing focus on improving situational awareness in battlefield management and growing instances of global military vetronics market growth.
Global Military Vetronics Market Dynamics
Driver
- High Demand for Unmanned Aerial Vehicles and Drones
The global military vetronics market has a huge potential and is expected grow over the forecast period of 2023 to 2030, 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 global 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. In addition, the rise in the incidences of asymmetric and network-centric warfare is also expected to boost the growth of the global military vetronics market in the forecast period of 2023 to 2030.
Opportunity
- Rapid Technological Developments in C3 Systems
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 global military vetronics market in the forecast period of 2023 to 2030.
Restraint/Challenge
- High Intervention of Government Bodies
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 global military vetronics market in the forecast period of 2023 to 2030.
This global 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 global 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.
Recent Developments
- In July 2021, the U.S. army signed a contract worth USD 72.5 million with BAE systems to provide artillery armored combat vehicles with digital vetronics. This will upgrade M109A7 armored combat vehicle with digital vetronics and modern power system
- In June 2021, for a Swedish armoured combat vehicle, BAE Systems has chosen Elbit for vetronics sensors and active protection. The CV90 is a Swedish tracked combat vehicle that was developed in the mid-1980s and entered service in Sweden in the mid-1990s
Global Military Vetronics Market Scope
The global military vetronics market is segmented on the basis of system, platform, fit, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
System
- Command
- Control and Communications (C3) System
- Navigation System
- Weapon Control System
- Power System
- Vehicle Protection System
Platform
- Light Armored Vehicle
- Main Battle Tank
- Mine-resistant Ambush Protection (MRAP) Vehicle
- Infantry Fighting Vehicle (IFV)
- Unmanned Armored Ground Vehicle
- Amphibious Vehicle
Fit
- Line Fit
- Retro Fit
Application
- Defense
- Homeland Security
End User
- OEM
- Aftermarket
Global Military Vetronics Market Region Analysis/Insights
The global military vetronics market is analyzed and market size insights and trends are provided by region, system, platform, fit, application and end user as referenced above.
The countries covered in the global military vetronics market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa
North America dominates the global military vetronics market as it is the home to renowned research institutions, universities, and technology companies that conduct cutting-edge research. This strong R&D ecosystem fosters innovation and huge defense spending on procurement of advanced vehicles and investment in equipment upgradation let North America leads the global market in this aspect.
Asia-Pacific is expected to be fastest growing country in the global military vetronics market due to the Asia-Pacific region has a large and rapidly growing population, along with a rising threat of terrorist activities in the region. Also increased defence spending due to political conflicts over cross-border issues will drive the market.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream 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 the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Military Vetronics Market Share Analysis
The global military vetronics market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global military vetronics market.
Some of the major players operating in the global military vetronics market are:
- BAE Systems (U.K.)
- General Dynamics Corporation (U.S.)
- L3Harris Technologies, Inc. (U.S.)
- Leonardo S.p.A (Italy)
- Lockheed Martin Corporation (U.S.)
- Raytheon Technologies Corporation (U.S.)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- Thales Group (France)
- Oshkosh Corporation (U.S.)
- Curtiss Wright Corporation (U.S.)
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