Vetronics, which is a portmanteau of vehicle and electronics, is a military domain technological term. Military Vetronics is a vehicle equivalent of avionics. Increasing demand for C4 systems, owing to the growth of military ground vehicle systems, in North America and Europe, with next generation Vetronics systems. Also, growing incidences of asymmetric & network-centric warfare is positively fostering the otulook of military vetronics.
MARKET SCOPE
The "Global Military Vetronics Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the military vetronics market with detailed market segmentation by vehicle type, system, and geography. The report provides key statistics on the market status of the leading military vetronics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ? Based on vehicle type, the market is segmented as light protected vehicles, unmanned ground vehicles, armored amphibious vehicles and special purpose vehicles.? Based on system, the market is segmented into communication, navigation, C4 systems and power systems.
MARKET DYNAMICS
Drivers:
- ? Rise in demand in technologically advanced vehicles in emerging economies such as China and India in Asia region? focus on improviding situational awareness in a battlefield ? Increasing military modernization strategies
Restraints:
- ? Power consumption and subsequent delays in procurement activity
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The military vetronics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the military vetronics market in these regions
IMPACT OF COVID-19 ON CBRN Defense MARKET
The outbreak of the COVID-19 has severely impacted the production of advanced equipment for defense. The emergence of COVID-19 virus has spread huge economic uncertainty. Due to dearth of preparedness exposed by COVID-19 pandemic, military and defense suffered heavily. Also, with temporary halt in production activities, low defence & security budgets and declined financial performance of companies has impacted the military vetronics market.
- ? n the upside down, the vetronics manufacturers are looking ahead to ensure with their production activities. For instance, in June 2021, The US Army has chosen Oshkosh Defense to manufacture vetronics & 30-millimeter cannon for Stryker armored combat vehicles. Such investment for the manufacturing of vetronics will help in regaining the strength of the market growth.
MARKET PLAYERS
The report covers key developments in the military vetronics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from military vetronics market are anticipated to lucrative growth opportunities in the future with the rising demand for military vetronics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the military vetronics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ? Curtiss-Wright Corporation? Thales Group? Oshkosh Corporation? SAAB A.B.? BAE Systems PLC? General Electric Company? Lockheed Martin Corporation? General Dynamics Corporation ? Raytheon Technologies Corporation? Kongsberg Gruppen ASA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.