The global vetronics market is estimated to grow at a CAGR of nearly 5.0% during the forecast period. Vetronics is a key element of military vehicles. Vetronics refers to electronic systems on a vehicle which is designed to control functions including communications, navigation, and weapons. Vehicle-equipped with information technology has been gaining significance in the battlefield as it offers advanced capabilities which is essential for both force protection and force projection. Increasing modernization and upgradation of military vehicles is the key factor that is contributing to the growth of the market. The military sector is one of the important concerns for governments and key leaders of a country. The competitiveness in the industry has increased substantially due to the advancement of the defense sector of the developed economies such as the US, and Japan.
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Moreover, the modernization is directly proportional to the public and private investment. For instance, modernization is the fourth pillar of the US military which includes infrastructure and technology in the force structure, readiness, and sustainability. Additionally, emerging economies such as China, Israel, and India are moving rapidly towards the modernization of defense forces and vehicles to maintain the competitiveness of the armed forces. This, in turn, increased the need for military vehicles that are mounted with significantly optimized electronic command and information systems. This leads to the adoption of vetronics systems that supports to optimize computing resources and platform electronics, enabling the integration into the vehicles, and improving the supportability and logistics in operating conditions. The technology assists in both mission independent and mission-specific strategies.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Vetronics Market by Subsystem Type
- Navigation System
- C3 Systems
- Sensors (EO and IR)
- Vehicle Electronic Warfare System
- Others
Global Vetronics Market by Application
- Defense
- Homeland Security
Global Vetronics Market by Vehicle Type
- Amphibious Armored Vehicles
- Main Battle Tank
- Light Protected Vehicles
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- BAE Systems plc
- Cubic Corp.
- Curtiss-Wright Corp.
- ECRIN Systems
- Elbit Systems Ltd.
- GACI Rugged Systems
- General Dynamics Corp.
- Kratos Defense & Security Solutions, Inc.
- L3 Technologies, Inc.
- Leonardo S.p.A.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Pleora Technologies Inc.
- Rafael Advanced Defese Systems Ltd.
- Raytheon Technologies Corp.
- Rheinmetall AG
- Saab AB
- Serco, Inc.
- Thales Group
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vetronics market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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