Global Vetronics Market Comprehensive Study: Forecasted Market Size And Growth Rate | Rheinmetall AG, Raytheon Technologies Corporation, L3Harris Technologies Inc., Lockheed Martin Corporation

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2769

The Business Research Company offers in-depth market insights through Vetronics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The vetronics market size has grown strongly in recent years. It will grow from $3.72 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to modernization of military vehicles, increasing threats and security challenges, demand for enhanced situational awareness, shift towards network-centric warfare, demand for lightweight and compact electronics, upgradation programs for legacy vehicles..

The vetronics market size is expected to see strong growth in the next few years. It will grow to $4.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to multifunctional displays and hmi, unification of communication protocols, focus on soldier safety and survivability, development of autonomous vehicles, operational efficiency and effectiveness, rising defense budgets.. Major trends in the forecast period include integration of advanced electronics, network-centric warfare, digitalization and sensor fusion, artificial intelligence (ai) and machine learning (ml), enhanced vehicle communication, modularity and scalability..

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Market Segmentation:
The vetronics market covered in this report is segmented -

1) By Vehicle Type: Main Battle Tank, Light Combat Vehicles, Armored Personnel Carriers, Infantry Fighting Vehicle, Other Vehicles
2) By System: Weapon And Control System, Command And Communication, Navigation And Display, Sensor And Optronics, Power System, Other Systems
3) By Platform: Homeland Security, Military

Major Driver - Growing Military And Defense Focus Boosting Vetronics Market Growth
The increasing focus of military and defense services is driving the vetronics market. Terrorist activities, political upheaval around the world, and geopolitical tensions in countries have increased the focus on defense and military affairs, resulting in the procurement of next-generation combat vehicles. According to a defense correspondent's report, Rheinmetall's Military Vehicle Centre of Excellence (MILVEHCOE) in Queensland will build Australia's 186 Boxers. Therefore, the increasing focus of military and defense services is expected to propel the growth of the vetronics market over the coming years.

Competitive Landscape:
Major companies operating in the vetronics market report are Rheinmetall AG, Raytheon Technologies Corporation, L3Harris Technologies Inc., Lockheed Martin Corporation, Thales Group, Curtiss-Wright Corporation, General Dynamics Corporation, Leonardo SpA, Elbit Systems Ltd., Collins Aerospace, Harris Corporation, Northrop Grumman Corporation, Honeywell International Inc., Rockwell Collins Inc., Moog Inc., Ultra Electronics Holdings plc, Kongsberg Gruppen ASA, ASELSAN AS, Cobham plc, QinetiQ Group plc, Meggitt plc, Esterline Technologies Corporation, Safran Electronics & Defense, Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries Ltd., Aselsan Elektronik Sanayi ve Ticaret AS, BAE Systems plc, Collins Aerospace Systems, General Electric Company, Hitachi Zosen Corporation, ITT Inc.

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Top Trend - Technological Advancements Driving Innovation In Vetronics Market
Technological advancement is a key trend gaining popularity in vetronics market. Major industry players are focusing their efforts on developing novel technologies like the emergence of wireless communications technology and the increasing modernization of military vehicles, which are boosting the industry. For instance, drones and unmanned vehicles are employed for surveillance and a variety of commercial uses, including taking photos and videos of sporting events and cityscapes. It is also used in improvements in traffic flow analysis methodologies, risk assessment, aid in accident investigation, and damage assessments for bridges and pavements, as well as advances in computer vision algorithms to extract critical elements. Therefore, technological advancement is boosting the growth of vetronics market.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vetronics Market Characteristics
3. Vetronics Market Trends And Strategies
4. Vetronics Market - Macro Economic Scenario
5. Vetronics Market Size And Growth
…..
27. Vetronics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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