Press release
Vetronics Global Market 2025: Opportunities, Growth Drivers and Trends
Vetronics Market Size
What Is The Projected Market Size Of The Global Vetronics Market And Its Growth Rate?
• The vetronics market has registered steady growth recently and holds a promising trajectory for the years ahead.
• The market will escalate from $3.84 billion in 2024 to $4.01 billion in 2025 reflecting a CAGR 4.3%.
• The market size is expected to further scale to $4.96 billion in 2029 with a robust CAGR of 5.5%.
What Is Driving The Growth In The Vetronics Market?
With geopolitical tensions and terrorist activities becoming a global concern, military and defense services are placing an increasing focus on procuring next-generation combat vehicles. For instance, in March 2023, Rheinmetall's Military Vehicle Centre of Excellence (MILVEHCOE) in Queensland started building 186 Boxers for Australia. This enhanced focus on military and defense services is likely to catalyze the Vetronics market over the coming years.
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Who Are the Key Players Driving Vetronics Market Growth?
• 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.
• Moog Inc.
• Ultra Electronics Holdings PLC
• Kongsberg Gruppen ASA
• ASELSAN AS
• Cobham PLC
• QinetiQ Group PLC
• Meggitt PLC
• Safran Electronics & Defense
• Rafael Advanced Defense Systems Ltd.
• Israel Aerospace Industries Ltd.
• Aselsan Elektronik Sanayi ve Ticaret AS
• BAE Systems PLC
• General Electric Company
• ITT Inc.
What Are The Key Trends In The Vetronics Market?
• Integration of advanced electronics
• Network-centric warfare
• Digitalization and sensor fusion
• Artificial intelligence (ai) and machine learning (ml)
• Enhanced vehicle communication
• Modularity and scalability
What Are The Segments Of The Global Vetronics Market?
• Vehicle Type: Main Battle Tank, Light Combat Vehicles, Armored Personnel Carriers, Infantry Fighting Vehicle, Other Vehicles
• Systems: Weapon And Control System, Command And Communication System, Navigation And Display, Sensor And Optronics, Power System, Other Systems
• Platform: Homeland Security, Military
Which Region Leads The Vetronics Market?
North America was the largest region in the vetronics market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The report also brings insights into vetronics market growth across regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Vetronics Global Market Report?
- Market Size Analysis: Analyze the Vetronics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vetronics Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vetronics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vetronics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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