Global Military Vetronics Market 2021-2026

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    GLOBAL MILITARY VETRONICS MARKET

     

     

    KEY FINDINGS

     

    1.Increasing breaching incidents at borders has increased the need for deployment of advanced vetronics systems across the globe.The defense sectors across the globe have heavily invested in procuring advanced vetronics systems to stay ahead in the competition with neighboring countries.

     

    2.Military units across the globe are inclined towards investing heavily in procuring advanced technology-equipped vetronics systems. The demand for real-time communication vetronics is projected to remain high throughout the increasing impact of the factor on the market growth.

     

    3The rising concerns regarding geopolitical unrest and cross-border security, along with increasing instances of border breaching, there is widespread adoption of vetronics for improving inter- and intra-vehicle communications, surveillance and navigation.

     

    4.The emergence of wireless communications technology and increasing modernization of military vehicles are also creating a positive impact on the market. For instance, unmanned vehicles (UMV) and drones are used for surveillance purposes, along with various commercial applications, such as capturing images and videos of sporting events and cityscapes.

     

     

    INTRODUCTION

    Military vetronics implies vehicular electronic systems fixed into special purpose vehicles used by defense organizations for security. As the name suggests military vetronics are specialized electronic systems used in military vehicles.

     

    Military uses vetronics as an imperative and efficient technology for war, national security and armory purposes. Display, GPS, advanced armory control systems, data security systems and power systems are various vetronics systems widely used in defense and military.

     

    Integration of various military vehicles, such as amphibious vehicles, unmanned ground vehicles, infantry fighting vehicles, and mine-resistant ambush protected vehicles, in the army will support the segment growth. These vehicles require precise navigation systems, allowing the army to accurately carry out operations.

     

    infographic: Military Vetronics Market , Military Vetronics Market Size, Military Vetronics Market Trends, Military Vetronics Market Forecast, Military Vetronics Market Risks, Military Vetronics Market Report, Military Vetronics Market Share

     

    To improve the operational accuracy of these vehicles, industry players are integrating their navigation systems with Satellite Communications systems. Various countries across the globe are trying to establish a framework, where military devices can use a range of SATCOM networks, which include commercial & military networks.

     

    The USAF had conversations with commercial satellite operators to build a hybrid architecture. This architecture will enable armed forces to switch networks between commercial and military satellites, improving connectivity and reducing chances of cyber-attacks.

     

    Several programs are being conducted to upgrade the equipment and systems in old armored vehicles across the globe. Led by the availability of modern and evolved warfare technologies, these programs are driving the growth of the upgrade and retrofit market.

     

    Additionally, many countries are expanding their military budgets on account of increasing terrorism and hostile activities.These activities have also resulted in the requirement of frequent repairing and installation of new parts in armored vehicles. Besides, there has been a rise in the demand for low-cost per mile military vehicles.

     

    As the processes of upgrade and retrofit are comparatively less expensive than manufacturing a fully equipped vehicle, it has positively influenced the market growth. There has been a rise in investments for the advancement of military troop equipment for increased mobility and improved protection of land troops across both developed and emerging economies.

     

     

    FACTORS CONTRIBUTING THE GROWTH OF MILITARY VETRONICS MARKET

     

    1.Availability of cost effective components

     

    2.Rapid growth of automotive industry

     

    3.Emergence of wireless communication technology

     

    4.Border security and competition

     

     

    COVID IMPACT ON GLOBAL MILITARY VETRONICS MARKET

    The pandemic has considerably affected the production and delivery of  military products, which, in turn, will diminish the growth of the market. Stringent government norms have disrupted the import and export of goods, resulting in delayed deliveries. The halt on operations has critically thwarted the production in manufacturing processes.

     

    Prominent companies situated in the U.S., the U.K., Germany, and France have experienced enormous loss due to the outbreak. However, companies are implementing strategies to recover the financial damage caused by the coronavirus, which, in turn, can improve the market scenario.

     

    To emerge strongly from the COVID-19 crisis, Military Vetronics companies are likely to develop effective crisis-management strategies including emphasis on next-generation products, and solutions. Modestly reducing Military Vetronics R&D budgets, Constant monitoring on Military Vetronics market trends, Systematic approaches to investment/divestment, Carefully launching marketing strategies, Strengthening long term contracts.

     

    The global semiconductors, electronics, information, communication, and technology industry witnessed diverse trends over the past two years with manufacturing and other heavy industries facing operational challenges. On the other hand, data center services, cloud computing, and other online supporting sectors gained significantly from the market trends.

     

     

    MILITARY VETRONICS CONTRACTS

    Company Contract Info Contract Value
    General Dynamics A new light ground mobility vehicle to move infantry warfighters quickly on and off roads across future battlefields $14.4 million
    Raytheon Upgrade and modification of sensor system software and hardware for EA-18G and F/A-18 aircraft to incorporate improvements $88 million
    Lockheed Martin To provide technical support services related to the THAAD missile system in the Kingdom of Saudi Arabia $945.9 million
    Oshkosh Defence  To recapitalize vehicles in its family of heavy tactical vehicles fleet. As per the contract, the company will recapitalize around 407 palletized load system trucks and heavy expanded mobility tactical trucks and also manufacture nearly 601 new palletized load system trailers.

     

    $232.7 million
    BAE Systems The low rate initial production of armored multi-purpose vehicles and vetronics.

     

    $575 million

     

     

    MILITARY VETRONICS MARKET SEGMENTATION

     

    By Application

    • Defense
    • Homeland Security

     

    By Vehicle Type

    • Main Battle Tanks
    • Light Protected Vehicles
    • Amphibious Armoured Vehicles
    • Mine Resistant Ambush Protected (MRAP) Vehicles
    • Infantry Fighting Vehicles
    • Armored Personnel Carriers
    • Others

     

    By Subsystem

    • Navigation Systems
    • Observation and Display Systems
    • C3 Systems
    • Weapon Control Systems
    • Sensor and Control Systems
    • Vehicle Protection Systems
    • Power Systems
    • Others

     

    By Fit

    • Line-Fit
    • Retrofit

     

    By Region

    • North America
      • United States
      • Canada
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Indonesia
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Russia
      • Others
    • Latin America
      • Brazil
      • Mexico
      • Others
    • Middle East and Africa

     

    COMPETITIVE LANDSCAPE

    The industry has some of the key players being  BAE Systems PLC, Curtiss-Wright Corporation, General Dynamics Corporation, Harris Corporation, Leonardo-Finmeccanica S.P.A, Lockheed Martin Corporation, Raytheon Company, Rheinmetall AG, Saab Group, Thales Group, etc.

     

    Market players have adopted various strategies to improve their market shares and increase the penetration of their products, worldwide. In the recent past, market players have adopted various strategies, such as R&D and innovation, product launch, partnership, collaboration, and joint venture, expansion, and constituent as their major growth strategies to sustain the stiff competition in the market.

     

    The prominent players manufacturing and offering vetronics systems are anticipated to continuously invest in research and development activities to develop innovative products and improve the efficiency of the systems.

     

    These players intend to emphasize long-term agreement, joint ventures, and partnership with government organizations to increase their profit margins and sustain the stiff competition in the market.

     

     

    KEY PLAYERS

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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