10-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Military Vetronics Market By Product (Communication System, Power System, Navigation System, Control & Data Distribution System, C4 System, and Display System) and By Application (Light Protected Vehicles, Special Purpose Vehicles, Unmanned Ground Vehicles, and Armored Amphibious Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global Military Vetronics market is predicted to be valued at approximately USD 4,029 million in 2018 and is expected to reach a value of around USD 5,902 million by 2027, at a CAGR of around 4.33% between 2019 and 2027.
Vetronics is a technologically designed portmanteau of electronics and vehicles. It finds massive applications in the military sector. The military Vetronics encompasses the systems on the vehicle that regulated operations like communications, power, weapons, display, navigation, and data distribution.
Browse the full “Military Vetronics Market By Product (Communication System, Power System, Navigation System, Control & Data Distribution System, C4 System, and Display System) and By Application (Light Protected Vehicles, Special Purpose Vehicles, Unmanned Ground Vehicles, and Armored Amphibious Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at https://www.fnfresearch.com/military-vetronics-market-by-product-communication-system-power-179
Escalating demand for unmanned drone & vehicle to drive the market trends
Today, there is a massive need for unmanned drones as well as unmanned vehicles in defense activities. Moreover, the unmanned drones & vehicles are fitted with advanced systems for capturing the pictures of cityscapes, foliage, and sporting events. All these aspects are projected to drive business growth over the forecast timespan.
Furthermore, the rise in the secret defense operations with growing war conditions is likely to propel the demand for Vetronics for military activities over the forecast timeline. This, in turn, will influence the expansion of the Military Vetronics industry over the forecast timespan.
Apparently, rapid technological breakthroughs witnessed in the military Vetronics such as high bandwidth networking facility, HD video calling, and new threat detecting sensors are predicted to favorably impact the surge in the growth of the business over the forecast timeline. Nonetheless, the lowering of fund allocation for defense activities will impede business growth over the forecast timeline. However, the addition of new features to military Vetronics will offer new growth avenues for the market during the forecast timespan and thus nullify the negative effect of the hindrances on the market expansion.
Power system to lead the product type segment over the forecast timeline
The segmental growth during the period from 2019 to 2027 is credited to its ability to maintain refined power management & computing across the networking Vetronics.
Light protected vehicles segment to dominate the application landscape by 2027
The growth of the segment during the forecast timespan is owing to the design of the light protected vehicles offering protection against ballistic missiles as well as blasting. In addition to this, the light protected vehicle is devised to integrate the future system needs of adaptive campaigning with C4l abilities which can be updated for particular missions.
Asia Pacific market to record the highest CAGR over the forecast timeline
The market in the Asia Pacific region is predicted to register the highest growth rate of over 4% during the forecast period. The growth of the market in the region is credited to high spending on defense activities in countries like India, China, and South Korea. Apart from this, prominent use of C4 systems in the region will further enlarge the scope of the business in the Asia Pacific zone over the forecast period.
Some of the major players in the business include Lockheed Martin Corporation, Ultra Electronics Ltd., Elbit Systems Ltd., Kongsberg Gruppen ASA, The Curtiss-Wright Corporation, General Electric Company, The Raytheon Company, BAE Systems PLC, General Dynamics Corporation, SAAB A.B., and Thales Group.
This report segments the Military Vetronics market as follows:
Military Vetronics Market: By Product Analysis
- Communication System
- Power System
- Navigation System
- Control & Data Distribution System
- C4 System
- Display System
Military Vetronics Market: By Application Analysis
- Light Protected Vehicles
- Special Purpose Vehicles
- Unmanned Ground Vehicles
- Armored Amphibious Vehicles
Military Vetronics Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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