Military Vetronics Market 2017 Research, Share, Size, Growth, Competitor Strategy and Trends by Forecast to 2021

Market Highlights

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.

Over the last decade, there has been an increasing need to rapidly modernize the military systems. It includes the need to upgrade and equip the military land vehicles with optimized military equipment and vetronics. Traditionally, 'bolt-on' systems were largely used for such requirements. It however leads to added weight, reduced flexibility of the system, and power and cooling issues in the vehicles.

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

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
General Dynamics Corporation

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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Regional Analysis
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.

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