Vetronics Market by Application (Defense and Homeland Security), Vehicle Type (Main Battle Tank, Light Protected Vehicle, Amphibious Armored Vehicle), Subsystem (Communication, Navigation, C3 Systems, Power Systems) - Global Forecasts to 2021
“The vetronics market is projected treach USD 3.51 billion by the end of 2021”
According tthe projections in this report, the vetronics market is estimated tgrow from USD 2.85 billion in 2016 tUSD 3.51 billion by 2021, at a CAGR of 4.30% during the forecast period. Factors that are expected tdrive the vetronics market include network centric warfare, situational awareness, embedded technology system commonality, and shift towards COTS enabled improved SWaP specification.
“Based on vehicle type, the mine resistant ambush protected segment is expected tlead the vetronics market”
The need for technologically advanced vehicles by defense authorities worldwide is the key factor fueling the growth of the vetronics market. Mine resistant ambush protected vehicles provide protection against threats from chemical, biological, radiological, and nuclear weapons (CBRN), improvised explosive devices (IED), and rocket propelled grenades (RPG). Their strong demand from Middle Eastern countries, such as Iraq and Afghanistan is the key factor fueling the demand for mine resistant ambush protected vehicles.
“Based on subsystem, the C3 systems segment is expected tlead the vetronics market”
Based on subsystem, the C3 systems segment is estimated taccount for the highest share of the vetronics market during the forecast period. This can be attributed tincrease in demand for lightweight and technologically advanced display computers for vehicles used in warzone.
“North America is estimated taccount for the largest share; Asia-Pacific is projected tgrow at the highest rate during the forecast period”
The North-American region is estimated taccount for the largest share of the vetronics market. Increased procurement of innovative vetronics and improvisation of existing fighting vehicles is the prime factor fueling the growth of the vetronics market in the region. The APAC region is estimated tgrow at the highest CAGR during the forecast period. This can be attributed tthe rise in defense spending of leading countries, such as China, India, Japan, and Australia, among others. Need for technologically advanced vetronics systems is alsa key factor fueling the growth of the vetronics market in the Asia-Pacific region.
Break-up of profile of primary participants for the report has been given below.
By Company Type: Tier 1 – 45%, Tier 2 – 35%, Tier 3 – 20%
By Designation: C Level – 50%, D level – 35%, Others – 15%
By Region: North America – 44%, Europe – 35%, APAC – 15%, RoW – 6%
Vetronics have evolved over the course of time in terms of technology. CS13 program (command, control, communication, and information), COTS (Commercial of Shelf), and VICTORY (Vehicular Integration for Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance/Electronic Warfare) are some of the key trends driving the vetronics market.
Major companies profiled in the report are Thales Group (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden), General Dynamics Corporation (U.S.), Curtiss Wright Corporation (U.S.), Elbit Systems (Israel), Leonardo-Finmeccanica SPA (Italy), Harris Corporation (U.S.), Rheinmetall AG (Germany), BAE Systems (U.K.), among others.
Objectives of the Study:
The report analyzes the market on the basis of application (defense and homeland security), vehicle type (main battle tank, light protected vehicle, amphibious armored vehicles, mine resistant ambush protected vehicles, infantry fighting vehicles, armored personnel carriers, others), and subsystem (communication & navigation, observation & display systems, C3 systems, weapon & control systems, sensor & control systems, vehicle protection systems and power systems). It maps these segments and subsegments across major regions, namely North America, Europe, Asia-Pacific, the Middle East, and the Rest of the World.
Software/Hardware/Service and Solution Providers
Technology Support Providers
Military Land Vehicles Manufacturers
Scope of the Report
By Vehicle Type
Main Battle Tank
Light Protected Vehicles
Amphibious Armored Vehicles
Mine resistant ambush protected
Infantry Fighting Vehicle
Armored Personnel Carriers
Communication & Navigation
Observation and Display Systems
Weapon Control Systems
Sensor & Control Systems
Vehicle protection Systems
Rest of the World
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