According to IMARC Group's latest research report, titled "Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights into the vetronics market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global vetronics market size reached a value of US$ 2.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.0 Billion by 2027, exhibiting a CAGR of 5.73% during 2022-2027.
Vetronics Market Outlook:
Vetronics, also known as vehicle electronics, represents the accumulation of various electronic subsystems within an automobile. It is generally used by military units to integrate systems, such as command, navigation, communication, surveillance, and car health management. Vetronics consists of several automotive electronic technologies, including sensors, autonomous driving, secure communications techniques, etc. These systems are integrated with battle tanks and armored, light-protected, and infantry fighting vehicles. In addition to this, they are also equipped with advanced threat detection sensors, HD video calling, high bandwidth networking, portable power systems, etc. Consequently, vetronics is gaining extensive traction across the globe.
Get Free Sample Copy of Report at – https://www.imarcgroup.com/vetronics-market/requestsample
Vetronics Market Growth:
The expanding automotive industry and the increasing need for enhancing situational awareness among military and defense services are among the primary factors driving the vetronics market. Besides this, the escalating demand for this solution for improving inter- and intra-vehicle communications, surveillance, and navigation, owing to the rising consumer concerns towards geopolitical unrest, cross-border security, and high instances of border breaching, is further augmenting the market growth. Moreover, the growing integration of vetronics with satellite communications systems to improve overall operational accuracy is also catalyzing the global market. Apart from this, the launch of numerous favorable policies by government bodies, extensive R&D activities, and the inflating expenditure capacities on the defense sector are acting as significant growth-inducing factors. Furthermore, continuous technological advancements, including the development of wireless communications technology and the emerging trend of modernization of service vehicles, by key market players are anticipated to propel the vetronics market over the forecasted period.
Key Market Segmentation:
Competitive Landscape with Key Players:
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
Breakup by Application:
Defense
Homeland Security
Breakup 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
Breakup by Subsystem:
Navigation Systems
Observation and Display Systems
C3 Systems
Weapon Control Systems
Sensor and Control Systems
Vehicle Protection Systems
Power Systems
Others
Breakup by Fit:
Line-Fit
Retrofit
Breakup by Region:
North America (United States, Canada)
Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Comments