Summary:
The vetronics market is projected to grow from USD 2.85 Billion in 2016 to USD 3.51 Billion by 2021, at a CAGR of 4.30% during the forecast period. The vetronics market is driven by various factors, such as network centric warfare, situational awareness, embedded technology system commonality, shift towards COTS enabled improved SWaP specifications, among others. This report forecasts the vetronics market and its dynamics during the next five years, while also recognizing market applications, evolving technologies, recent developments in the market, and high potential geographic regions and countries. The base year considered for the study is 2015, and the forecast period is between 2016 and 2021.
Objectives of The Study:
The report analyzes the market on the basis of application (defense and homeland security), vehicle type (main battle tank, light protected vehicle, amphibious armored vehicles, mine resistant ambush protected vehicles, infantry fighting vehicles, armored personnel carriers, among others), and subsystem (communication & navigation, observation & display systems, C3 systems, weapon & control systems, sensor & control systems, vehicle protection systems, and power systems). It maps these segments and subsegments across major regions namely, North America, Europe, Asia-Pacific, the Middle East, and the Rest of the World.
The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the vetronics market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall vetronics market.
The report also covers competitive developments, such as long-term contracts, joint ventures, mergers & acquisitions, new product launches and developments, and research & development activities in the global vetronics market in addition to strategies adopted by key market players.
Research Methodology:
The research methodology used to estimate and forecast the
vetronics market begins with obtaining data about key vendor revenues through secondary research, such as company websites, annual reports, press releases, investor presentations, SEC filings, secondary journals, industry news websites, and expert interviews. Vendor offerings are also taken into consideration to determine market segmentation. Bottom-up procedure was employed to arrive at the overall market size of the vetronics market from revenues of key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with expects, such as CEOs, VPs, directors, and executives, among others. Data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
The C3 systems
segment is anticipated to witness highest growth during the forecast period
Based on subsystem, the vetronics market has
been segmented into communication, navigation, observation & display
systems, C3 systems, weapon control systems, sensor & control systems,
vehicle protection systems, and power systems. The C3 systems segment is
estimated to grow at the highest CAGR owing to increase in demand for
technologically advanced as well as lightweight vetronics systems. The demand
for C3 systems is highest in North America and Europe, owing to rise in demand
for military land vehicles systems with next generation vetronics systems.
Vetronics market in
APAC estimated to grow at the highest rate during the forecast period
The vetronics market in APAC is estimated to
grow at the highest CAGR between 2016 and 2021, owing to increase in demand for
technologically advanced military land vehicles in emerging economies, such as
India and China. Rise in defense spending of emerging countries is one of the
major factors driving the vetronics market in this region.
Thales Group (U.S.) is one of the key players
in the vetronics market. Other major players in this market include Raytheon
Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden),
General Dynamics Corporation (U.S.), Curtiss Wright Corporation (U.S.), Elbit
Systems (Israel), Leonardo-Finmeccanica SPA (Italy), Harris Corporation (U.S.),
Rheinmetall AG (Germany), BAE Systems (U.K.), among others.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
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