Military Vetronics

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Military Vetronics
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REPORT DESCRIPTION
The global military vetronics market is principally driven by the changing military operational techniques and
advancing asymmetric warfare. Following the mounting demand for real time data in military combat in order to
improve operational efficiency of the vehicles, the market for vetronics is expected to grow significantly over the
forecast period globally. In addition, the initiatives undertaken for reduction of size, weight and power consumption
(SWaP) of electronics within the military vehicles in order to increase internal space for solider accommodation and
ammunition reserves is also driving the growth of the market for vetronics. The military vehicle modernization
initiatives adopted by governments across the world are also estimated to currently boost the demand for both
forward-fit and retrofit vetronics market. Moreover, the increasing investment in the defense sector, especially by
the countries in Asia Pacific region is currently fuelling the growth of the military vetronics market. This trend in Asia
Pacific market also offers future opportunities for vetronics manufacturers over the forecast period.
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Coupled with the adoption of advancing technologies and transforming military operations, the military vetronics
market is currently experiencing a surge globally. Based on segmentation by systems, the global military vetronics
market has been categorized into control and data distribution system, display systems, power systems, vehicle
management systems and others. Stimulated by the increasing need for operability of military vehicles under harsh
environmental conditions, the demand for rugged vetronics in the modern and retrofit vehicles is estimated to be
growing at a rapid pace globally.
The escalating threats from insurgencies and growing geopolitical conflicts among nations currently boost the need
for enhanced vetronics systems in the armored personnel carriers and infantry fighting vehicles. Moreover, the
recent focus on development of unmanned ground vehicles by the major military organizations is expected to
generate further growth of the military vetronics market globally. Concerns to improve the robustness of the military
vehicles in order to support various tactical operations, several initiatives were undertaken both by the governments
and defense contractors worldwide.
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Based on the geographical segmentation, North America is estimated to maintain its dominance in the global
military vetronics market throughout the forecast period. The current trend in the market focusing on modernizing
the military vehicles and re-utilization of the ageing vehicles are the boosting the growth of the military vetronics
market in North America. Following, North America, the military vetronics market in Europe is currently estimated to
be growing at a stable pace. Owing to the various projects undertaken by countries such as Germany, Russia, the
U.K. and others in order to upgrade electronics systems in military vehicles, the market for vetronics in Europe is
expected to grow from 2015 to 2023.
The fastest growing market for military vetronics from 2015 to 2023 is estimated to be Asia Pacific. Countries such
as China, Japan and India are analyzed to be the leading markets for military vetronics in the Asia Pacific region. On
the other hand, driven by increasing investing in the upgradation and procurement of improved electronic systems
in military vehicles by countries in Middle East and Africa, the market for military vetronics is expected to offer
lucrative opportunities for growth over the forecast period. South America is currently estimated to be growing at a
slower pace, however, over the forecast period; the market is expected to improve demand for military vetronics in
the region. Brazil is estimated to be the largest market for military vetronics in the South America.
Key players in the global military vetronics market are Curtiss-Wright Corporation, Oshkosh Corporation, Ultra
Electronics Ltd., TE Connectivity, SAAB A.B., Kongsberg Gruppen ASA, General Electric Company, BAE Systems plc,
Rheinmetall Defence, Moog, Inc., Lockheed Martin Corporation, Elbit Systems Ltd., Thales Group, The Raytheon
Company and General Dynamics Corporation among others.
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Vetronics are the electronics systems integrated in military vehicles for streamlining activities such as communications, navigation, surveillance and vehicle health management among others. The global market for military vetronics is primarily driven by escalating need for real time data to improve battlespace awareness of soldiers and mission specific operational efficiency of the military vehicles.