Vetronics (vehicle electronics) are used in military land vehicles to enable navigation, observation, and communication. They can help in the exchange of inter-vehicular or intra-vehicular information. These systems increase warfare capabilities by facilitating the military in their intelligence, surveillance, and reconnaissance missions.
The global military vetronics market is expected to grow steadily in the next few years. This growth is driven by the rising demand for advanced vetronics systems enabling enhanced performance, military modernization programs, and changing nature of warfare (technology-centric warfare) among others. Demand from major markets such as Europe and the US, along with the rising demand from emerging nations in the APAC is also expected to be a major factor for the market growth.
To overcome such possible issues, modular approach are largely being implemented. Modular vetronics approach is based on a layered architecture that enables ease for scaling and implementing configuration changes. This approach emphasizes on standard component design while also providing a significant reduction in the cost of making changes in future requirements. Vehicles with modular system approach thus offer more benefit than the conventional vehicles. Because of the similarity in various components, it is easily available during the need for maintenance, which further reduces the life cycle cost, and also enables a lean supply chain.
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Market Key Players
Ultra Electronics Ltd.,
Kongsberg Gruppen ASA,
General Electric Company,
BAE Systems plc,
Lockheed Martin Corporation,
Elbit Systems Ltd.,
Thales Group, The Raytheon Company, General Dynamics Corporation
According to MRFR, The Global Military Vetronics Market is expected to grow at a CAGR of around 7% during 2016-2021.
Industry/ Innovation/ Related News:
February, 2017:- General Dynamics Land Systems signed a contract worth USD 308 million with the Government of Canada, to upgrade 141 Light Armored Vehicles that would improve the vehicles' performance and survivability while reducing their long-term maintenance costs.
February, 2017:- BAE Systems signed a contract worth USD 28.2 million with the U.S. Army, to provide them with 11 M88A2 Heavy Equipment Recovery Combat Utility Lift Evacuation System (HERCULES) vehicles and related vetronics.
Military Vetronics Market – Segments
For the convenience of the report and enhanced understanding; the military vetronics market is segmented in to three key dynamics
Segmentation by Vehicle Type: Light Protected Vehicles, Unmanned Ground Vehicles, Armored Amphibious Vehicles, and Special Purpose Vehicles.
Segmentation by System: (Communication, Navigation, C3 Systems, and Power Systems).
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.
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The traditional markets in the US and Europe have been extensively spending for military modernization along with the upgrades of existing military land vehicle fleets. It helps to maintain the operability of the existing land vehicles rather than replacing the entire fleet of ageing vehicles. Meanwhile, the emerging nations are also buying new land vehicles as the additional strength to their respective military forces. Emerging nations such as China, and India, have a large number of military troops, and land military is one of the major force for border defense in both the countries. In the present scenario of increased security concerns, these nations have increased their respective defense budgets, and also for purchase and upgrade of military land vehicles and vetronics.
Many of the major military forces such as the US and the European countries already have a large number of military land vehicles. It is extremely expensive to completely replace the ageing fleet of such vehicles. One of the most efficient ways to maintain the operability of such military land vehicles without compromising on capability or functionality is to upgrade the existing fleet of military land vehicles with modern vetronics systems. Vetronics is the core to any military land vehicle, as in the present day of modern warfare, most of the systems are technology based.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.