Vetronics Market players have adopted various strategies, such as R&D and innovation, product launch, partnership, collaboration, and joint venture, expansion, and constituent as their major growth strategies to sustain the stiff competition in the market

Vetronics Market is expected to garner $4,362 million by 2022, registering a CAGR of 5.4% during the forecast period 2016-2022. Vetronics refer to vehicle electronics, which enable military units to integrate various systems such as communication, command, and control; vehicle electronic warfare system; navigation system; vehicle protection systems; and surveillance system to streamline activities such as communication, navigation, surveillance, and vehicle health management.

The key factors boosting the growth of the world vetronics market include easy availability of cost-effective components, increased demand for enhanced vetronics, emergence of wireless communication technology, low spending in the defense sector, and domestic capability.

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Vetronics refers to vehicle electronics that enable military units to integrate various systems such as communication, command, and control, vehicle electronic warfare system, navigation system, vehicle protection systems, and surveillance system to streamline activities such as communication, navigation, surveillance, and vehicle health management.

Military units across the globe have focused on investing in solutions and systems to ensure significant improvement in military operations, and have an edge in the battlefield. Furthermore, increasing need for efficient combat management systems in the defense sector has encouraged prominent players offering military communication, command, and control systems to develop and offer advanced battlefield management systems for military applications.

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In addition, advancement in wireless communication technology has opened new opportunities for the market players. These factors are expected to drive the military communication, command, and control segment, registering the fastest CAGR during the forecast period. In addition, the vehicle electronic warfare system segment is projected to grow at the second highest CAGR during the forecast period, owing to the growing need for monitoring cross-border activities, identifying enemys weaknesses, and facilitating enhanced connectivity between central and remote vetronics systems.

Based on the geography, the vetronics market is segmented into four major regions, namely North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2014, accounting for around 29% share of the overall vetronics market. The LAMEA vetronics market is projected to grow at the second highest CAGR of 5.3% during the forecast period.

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