Military Vetronics Market (By System: Control & Data Distribution Systems, Displays Systems, Power Systems, Vehicle Management Systems; By Type; By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024
Global Military Vetronics Market is estimated to reach $9 billion by 2024 with CAGR of 6.5% between 2016 and 2024. Vetronics is assortment of electronics, vehicles and technology, mainly designed for the defense sector. Vetronics is gaining significantly high demand owing to its ability to deliver real-time information, data, video and voice communication, anywhere in the world with high speed. It also provides with inter and intra-vehicular information exchange which assistances the fighting vehicles during the time of emergency. Vetronics technology has developed over the years and includes various capabilities such as advanced communication devices, satellite communications, network sensor, mission radar and others.
Increasing need for unmanned aerial vehicles & drones coupled with need for modernization of military equipment are the major factors supporting the growth of the global military vetronics market. Adoption of IoT & big data and rising trade opportunities also supports the growth of the market. Additionally, rising defense investments by emerging economies and rising spending on military information technology can provide with growth opportunities in the forecast period. Though, demilitarization activities by developed countries and limiting defense budgets may hamper the growth of the market.
The global military vetronics market is categorized on the basis of system, type and geography. By system, the market is segmented into displays systems (navigation, observation and others), power systems, control & data distribution systems (communications, data recorder, data storage, turret control and others), vehicle management systems (smoke & fire protection, surveillance, vehicle health management and others) and others. Furthermore, by type, it is segmented into armored personal carriers, light protected vehicles, unmanned ground vehicles, infantry fighting vehicles, and armored amphibious vehicles.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France and Rest of Europe. Asia-Pacific covers China, India, Japan and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key players in the market include Thales Group, Lockheed Martin Corporation, General Dynamics, GE Intelligent Platforms, Kongsberg Gruppen, Harris Corporation, BAE Systems, Bharat Electronics, Rheinmetall Defense and SAAB A.B., among others.
The key takeaways from the report
- The report will provide detailed analysis of Military Vetronics Market with respect to major segments such as system and types
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Military Vetronics Market has been included in the report
- Profile of the key players in the Military Vetronics Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Military Vetronics Market
- Displays Systems
- Power Systems
- Control & Data Distribution Systems
- Data Recorder
- Data Storage
- Turret Control
- Vehicle Management Systems
- Smoke & Fire Protection
- Vehicle Health Management
- Armored Personal Carriers
- Light Protected Vehicles
- Unmanned Ground Vehicle
- Infantry Fighting Vehicles
- Armored Amphibious Vehicles
- North America
- South America
- Middle East