The Vetronics Market is projected to grow from USD 2.85 Billion in 2016 to USD 3.51 Billion by 2021, at a CAGR of 4.30% during the forecast period.
The growth of the global vetronics market is influenced by a number of factors including network driven warfare, embedded technology system commonality, situational alerts, and a swing towards improved SWaP specifications with COTS support. Additionally, the growing need to keep an eye on cross-border activities, support improved connectivity between remote and central vetronics systems, and determine enemy weaknesses are several other factors contributing to market growth.
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The prominent players in the global vetronics market are Curtiss Wright Corporation, Raytheon Company, SAAB Group, Lockheed Martin Corporation, General Dynamics Corporation, and Thales Group. The other influencing players in the market are Leonardo-Finmeccanica SPA, Elbit Systems, Harris Corporation, BAE Systems, and Rheinmetall AG.
Vetronics Market Segments:
By System Type
• Military Communication, Command, and Control System
• Sensors (EO/IR) System
• Vehicle Electronic Warfare System
• Other (Navigation System and Vehicle Protection System)
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