Global Market of Military Vetronics Grows with Rising Network Centric Military Operations

Vetronics are the electronics systems integrated in military vehicles for streamlining activities such as communications, navigation, surveillance and vehicle health management among others. The global market for military vetronics is primarily driven by escalating need for real time data to improve battlespace awareness of soldiers and mission specific operational efficiency of the military vehicles. The development of embedded technology is rapidly transforming the military’s capabilities for highly network centric operations. In addition, the initiatives undertaken for reduction of size, weight and power consumption (SWaP) of electronics within the military vehicles in order to increase internal space for solider accommodation and ammunition reserves is also driving the growth of the market for vetronics. Moreover, increasing investments in developing unmanned ground vehicles for military applications are also pushing the market forward. Owing to these factors, the market for military vetronics is growing at a significant pace globally.

Know about the Worldwide Market of Military Vetronics at: http://tinyurl.com/z9s77qk

Coupled with the adoption of advancing technologies and transforming military operations, the military vetronics market is currently experiencing a surge globally. The escalating threats from insurgencies and growing geopolitical conflicts among nations currently boost the need for enhanced vetronics systems in the armored personnel carriers and infantry fighting vehicles. Concerns to improve the robustness of the military vehicles in order to support various tactical operations, several initiatives were undertaken both by the governments and defense contractors worldwide

The growing demand for real-time data in the defense industry and enhanced size, weight, and power (SWaP) specifications for embedded technology will boost the growth of the global military vetronics market. However, demilitarization initiatives adopted in North America and Europe, coupled with open architectural design of vetronics are expected to hamper the market’s growth during the forecast period. The overall military vetronics market has a considerable scope of growth with the development of advanced vetronics and SWaP reduction initiatives.

Geographically, North America is estimated to continue dominating the global military vetronics market throughout the forecast period and accounted for a market share of more than forty percent in 2014. Increasing investments in modernizing military vehicles and growing adoption of technologically enhanced systems in ageing vehicles are the major factors driving the growth of the military vetronics market in North America. The U.S. is estimated to be dominating the market for global military vetronics throughout the forecast period. Europe military vetronics market is currently growing at a stable pace owing to the various initiatives undertaken to upgrade military vehicles in countries such as Russia, Germany, the U.K. and France among others. Asia Pacific is estimated to be the fastest growing market for military vetronics with a CAGR of 6.0% from 2015 to 2023. Countries such as China, India and Japan are the leading markets for military vetronics in the Asia Pacific region. Countries in Middle East and Africa are investing in the upgradation and procurement of improved electronic systems in military vehicles to sustain domestic security and fight anti-national organizations in the region. Brazil is estimated to be the largest market for military vetronics in the South America. The report includes the market revenues of 15 major countries in the global military vetronics market.

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The company profile segment includes the company overview, financial overview, business strategies, historical roadmap and recent developments in the field of military vetronics. Major vetronics manufacturers profiled in this report include 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 and General Dynamics Corporation among others.

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