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Published Date: 2016-01-27Number of Pages: 124

Military Vetronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Military Vetronics Market: A Snapshot

The two ways players in military vetronics can approach business is through integrating their systems into new vehicles and retrofitting them to older ones. Most of the defense agencies across the world possess a large number of older vehicles that hold major opportunities for use of modern and more rugged vetronics systems. Additionally, key players are also focusing on the high demand for embedded technology through the implementation of advanced SWaP specs on modern vehicles. Another driver that vetronics players can look out for is the rapidly growing demand for real time data tools in the defense industry.

However, the growing rate of demilitarization in Europe and North America is discouraging several players in the region from continuing to expand in conventional vetronics. Players will soon need to look for opportunities in implementing vetronics systems in unmanned vehicles.

As a result of the above factors, the revenue earned in the global military vetronics market is expected to progress at a CAGR of 5.3% between 2015 and 2023. This market is expected to reach US$10.71 bn by the end of 2023.

 

global-military-vetronics-market-revenue-share

 

North America Defense Industry Pulling Large Number of Vetronics Players

The average pace of the revenue generation for vetronics players is expected to ramp up rapidly in the immediate future and eventually slow down to maturity later on. The military expenditure in Asia Pacific, Africa and the Middle East have recently witnessed significant growth rates, while Europe has shown a very low growth. North America on the other hand had shown a decline in military expenditure between 2013 and 2014, with the trend remaining consistent till 2016. Despite the fall in expenditure, North America, particularly due to the U.S., holds the top share of expenditure in the world.

North America held the leading revenue share in military vetronics in 2015 and is expected to retain its leadership till 2023. The growth of vetronics revenue in this region is primarily dependent on the increasing investments in research and development efforts for advanced vetronics systems. This applies especially to the fields of navigation systems, communication systems, and real time data transmission systems in modern combat vehicles.

High Demand for Autonomous Operations Propels Demand for Power Systems Vetronics

The revenue share of power systems in vetronics is expected to reach 32.2% by the end of 2023. Control and data distribution systems, the second-largest systems segment, is also expected to show a decent growth in market share. Meanwhile, display systems and vehicle management systems will show a very slow increase in market share between 2015 and 2023.

Most of the modern warfare tactics and military vehicular utilities are largely dependent on remote controlled operations and even fully autonomous military operations. These systems are increasingly being integrated with communication systems, creating a greater need for the implementation of high-end military vetronics. The development of power systems is mainly based on these factors on a global level.


Chapter 1 Preface
1.1 Research description
1.2 Research scope
1.3 Research methodology

Chapter 2 Executive Summary

Chapter 3 Market Overview
3.1 Introduction
3.2 Key Trends Analysis
3.3 Market Dynamics
      3.3.1 Market Drivers  
              3.3.1.1. Network centric military operations to influence demand for rugged vetronics
              3.3.1.2. Enhanced SWaP (Size, Weight and Power) specification to generate demand for embedded technology
              3.3.1.3. Surging demand for real time data in defense industry
      3.3.2 Market Restraint
              3.3.2.1. Demilitarization initiatives adopted in Europe and North America
              3.3.2.2. Open architectural design of vetronics
      3.3.3 Market Opportunities
              3.3.3.1. Adoption of technology to develop advanced vetronics
              3.3.3.2.  Common platforms and SWaP reduction initiatives to drive market growth
3.4 Market attractiveness by vehicle type, 2014

Chapter 4 Global Military Vetronics Market Analysis and Forecast, by System, 2015 – 2023
4.1 Overview
4.2 Control and Data Distribution System
      4.2.1 Global Military Vetronics Market, 2014 – 2023: Revenue forecast, By Control and Data Distribution System
4.3 Display Systems
      4.3.1 Global Military Vetronics Market, 2014 – 2023: Revenue forecast, By Control and Data Distribution System 
4.4 Power Systems
4.5 Vehicle Management System
      4.5.1 Global Military Vetronics Market, 2014 – 2023: Revenue forecast, By Vehicle Management System 
4.6 Other Vetronics Systems

Chapter 5 Global Military Vetronics Market Analysis and Forecast, by Vehicle Type, 2015 – 2023 
5.1 Overview
5.2 Light Protected Vehicles 
5.3 Infantry fighting Vehicles
5.4 Armored Personnel Carriers
5.5 Unmanned Ground Vehicles
5.6 Armored Amphibious Vehicles

Chapter 6 Global Military Vetronics Market Analysis and Forecast, by Geography, 2015 – 2023 
6.1 Overview 
6.2 North America Military Vetronics Market, 2014 – 2023: Revenue Forecast
      6.2.1 North America Military Vetronics Market, 2014 – 2023: Revenue Forecast, By System 
              6.2.1.1. North America Military Vetronics Market, By Control and Data Distribution System, 2014 – 2023 (USD Billion)
              6.2.1.2. North America Military Vetronics Market, By Display System, 2014 – 2023 (USD    Billion) 
              6.2.1.3. North America Military Vetronics Market, By Vehicle Management System, 2014 – 2023 (USD Billion)
              6.2.1.4. North America Military Vetronics Market, 2014 – 2023: Revenue Forecast, By Vehicle Type
      6.2.3 North America Military Vetronics Market, 2014 – 2023, Revenue Forecast, By Country
              6.2.3.1. U.S. Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.2.3.2. Canada Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.2.3.3. Mexico Military Vetronics Market, 2014 – 2023, Revenue Forecast
6.3 Europe Military Vetronics Market, 2014 – 2023: Revenue Forecast
      6.3.1 Europe Military Vetronics Market, 2014 – 2023: Revenue Forecast, By System
              6.3.1.1. Europe Military Vetronics Market, By Control and Data Distribution System, 2014 – 2023 (USD Billion) 
              6.3.1.2. EuropeMilitary Vetronics Market, By Display System, 2014 – 2023 (USD Billion) 
              6.3.1.3. Europe Military Vetronics Market, By Vehicle Management System, 2014 – 2023 (USD Billion)
      6.3.2 Europe Military Vetronics Market, 2014 – 2023: Revenue Forecast, By Vehicle Type 
      6.3.3 Europe Military Vetronics Market, 2014 – 2023, Revenue Forecast, By Country
              6.3.3.1. Russia Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.3.3.2. U.K. Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.3.3.3. Germany Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.3.3.4. France Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.3.3.5. Rest of Europe Military Vetronics Market, 2014 – 2023, Revenue Forecast
6.4 Asia Pacific Military Vetronics Market, 2014 – 2023: Revenue Forecast
      6.4.1 Asia Pacific Military Vetronics Market, 2014 – 2023: Revenue Forecast, By System 
              6.4.1.1. Asia Pacific Military Vetronics Market, By Control and Data Distribution System, 2014 – 2023 (USD Billion)
              6.4.1.2. Asia Pacific Military Vetronics Market, By Display System, 2014 – 2023 (USD Billion)
              6.4.1.3. Asia Pacific Military Vetronics Market, By Vehicle Management System, 2014 – 2023 (USD Billion)
      6.4.2 Asia Pacific Military Vetronics Market, 2014 – 2023: Revenue Forecast, By Vehicle Type
      6.4.3 Asia Pacific Military Vetronics Market, 2014 – 2023, Revenue Forecast, By Country
              6.4.3.1. China Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.4.3.2. India Military Vetronics Market, 2014 – 2023, Revenue Forecast 
              6.4.3.3. Japan Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.4.3.4. Rest of APAC Military Vetronics Market, 2014 – 2023, Revenue Forecast
6.5 Rest of the World Military Vetronics Market, 2014 – 2023: Revenue Forecast
      6.5.1 Rest of the World Military Vetronics Market, 2014 – 2023: Revenue Forecast, By System
              6.5.1.1. Rest of the World Military Vetronics Market, By Control and Data Distribution System, 2014 – 2023 (USD Billion) 
              6.5.1.2. Rest of the World Military Vetronics Market, By Display System, 2014 – 2023 (USD Billion)
              6.5.1.3. Rest of the World Military Vetronics Market, By Vehicle Management System, 2014 – 2023 (USD Billion) 
      6.5.2 Rest of the World Military Vetronics Market, 2014 – 2023: Revenue Forecast, By Vehicle Type 
      6.5.3 Rest of the World Military Vetronics Market, 2014 – 2023, Revenue Forecast, By Sub Region
      6.5.4 Rest of the World Military Vetronics Market, 2014 – 2023, Revenue Forecast, By Country
              6.5.4.1. Saudi Arabia Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.2. UAE Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.3. Israel Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.4. South Africa Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.5. Rest of MEA Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.6. Brazil Military Vetronics Market, 2014 – 2023, Revenue Forecast
              6.5.4.7. Rest of South America Military Vetronics Market, 2014 – 2023, Revenue Forecast

Chapter 7 Company Profiles
7.1 Curtiss-Wright Corporation
7.2 Oshkosh Corporation
7.3 Rheinmetall Defence
7.4 SAAB A.B.
7.5 TE Connectivity Ltd.
7.6 BAE Systems plc
7.7 Elbit Systems Ltd.
7.8 General Electric Company
7.9 General Dynamics Corporation
7.10 Ultra Electronics Ltd.
7.11 Thales Group 
7.12 The Raytheon Company
7.13 Kongsberg Gruppen ASA 
7.14 Moog, Inc.
7.15 Lockheed Martin Corporation

List of Figures
 

FIG. 1 Segmentation of Global Military Vetronics Market
FIG. 2 World Military Expenditure By 15 Countries With The Highest Expenditure (%), 2014
FIG. 3 Market Attractiveness, By Vehicle Type, 2014
FIG. 4 Global Military Vetronics Market, By System, Revenue Share 2014 (%)
FIG. 5 Global Military Vetronics Market, By System, Revenue Share 2023 (%)
FIG. 6 Global Control and Data Distribution Systems Market, 2014 – 2023 (USD Billion)
FIG. 7 Global Display Systems Market, 2014 – 2023 (USD Billion)
FIG. 8 Global Power Systems Market, 2014 – 2023 (USD Billion)
FIG. 9 Global Vehicle Management Systems Market, 2014 – 2023 (USD Billion) 
FIG. 10 Global Other Vetronics Systems Market, 2014 – 2023 (USD Billion)
FIG. 11 Global Military Vetronics Market, By Vehicle Type, Revenue Share 2014 (%)
FIG. 12 Global Military Vetronics Market, By Vehicle Type, Revenue Share 2023 (%)
FIG. 13 Global Light Protected Vechilce Market, 2014 – 2023 (USD Billion)
FIG. 14 Global Infantry Fighting Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 15 Global Armored Personnel Carriers Market, 2014 – 2023 (USD Billion)
FIG. 16 Global Unmanned Ground Vehicles Market, 2014 – 2023 (USD billion)
FIG. 17 Global Armored Amphibious Vehicle Market, 2014 – 2023 (USD billion)
FIG. 18 Global Military Vetronics Market, By Geography, Revenue Share 2014 (%)
FIG. 19 Global Military Vetronics Market, By Geography, Revenue Share 2023 (%)
FIG. 20 North America Military Vetronics Market, 2014 – 2023: Revenue Forecast
FIG. 21 U.S. Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 22 Canada Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 23 Mexico Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 24 Europe Military Vetronics Market, 2014 – 2023: Revenue Forecast 
FIG. 25 Russia Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 26 U.K. Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 27 Germany Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 28 France Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 29 Rest of Europe Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 30 Asia Pacific Military Vetronics Market, 2014 – 2023 Revenue Forecast
FIG. 31 China Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 32 India Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 33 Japan Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 34 Rest of Asia Pacific Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 35 Rest of the World Military Vetronics Market, 2014 – 2023 Revenue Forecast
FIG. 36 Saudi Arabia Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 37 UAE Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 38 Turkey Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 39 South Africa Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 40 Rest of MEA Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 41 Brazil Military Vetronics Market, 2014 – 2023 (USD Billion)
FIG. 42 Rest of South America Military Vetronics Market, 2014 – 2023 (USD Billion)

Vetronics are the electronics systems integrated in military vehicles for streamlining activities such as communications, navigation, surveillance and vehicle health management among others. The global market for military vetronics is primarily driven by escalating need for real time data to improve battlespace awareness of soldiers and mission specific operational efficiency of the military vehicles. The development of embedded technology is rapidly transforming the military’s capabilities for highly network centric operations. In addition, the initiatives undertaken for reduction of size, weight and power consumption (SWaP) of electronics within the military vehicles in order to increase internal space for solider accommodation and ammunition reserves is also driving the growth of the market for vetronics. Moreover, increasing investments in developing unmanned ground vehicles for military applications are also pushing the market forward. Owing to these factors, the market for military vetronics is growing at a significant pace globally.

Following the increasing modernization projects undertaken in countries such as China Japan, India, Israel, Saudi Arabia, UAE, and South Africa boost the demand for military vetronics over the forecast period. This factor is also analyzed to create new opportunities for the vetronics manufacturers globally. Conversely, the market for military vetronics is encountering a major hindrance due to the demilitarization initiatives adopted by countries in North America and Europe. However, the impact of this restraint is analyzed to shrink over the forecast period.

In this report on the global military vetronics, the market has been segmented based on system, vehicle type and geography. It also includes drivers, restraints and opportunities (DROs). The study highlights current market trends and provides the market size of 2014 and forecast from 2015 to 2023. The report covers the current market scenario for military vetronics and highlights future trends that could affect the demand for the same. The global military vetronics market is analyzed to observe a steady growth from 2015 - 2023 at a decent CAGR.

Based on geography, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). On the basis of segmentation by system, the market has been categorized into control and data distribution systems, display systems, power systems, vehicle management systems and others. Additionally, the market has been segmented on the basis of vehicle type which includes light protected vehicles, infantry fighting vehicles, armored personnel carriers, unmanned ground vehicles and armored amphibious vehicles. The market size and forecast from 2015 to 2023 have been provided in the report in addition to the market size of 2014.

Analysis of macro and micro economic factors driving and restraining the growth of the global military vetronics market has been covered under the scope of the study. The market attractiveness analysis provided in the report, highlights the major areas for future investments in the global military vetronics industry. The report is intended to help vetronics systems suppliers and manufacturers in understanding the current and upcoming opportunities in the global military vetronics market and formulating their business strategies accordingly. In addition, governments, military organizations and other buyer communities are also expected to be benefited from the report.

This study includes the profiles of 15 major players in the global military vetronics market and the strategies adopted by them to sustain in the competition. Recent developments by the key players in the market are expected to facilitate the emerging players adopt effective business strategies. The study is expected to help key players in the market and governments across the world to formulate and develop new strategies related to military vetronics development and integration. The key participants in the global military vetronics market include Curtiss-Wright Corporation, Oshkosh Corporation, Ultra Electronics Ltd., TE Connectivity, SAAB A.B., Kongsberg Gruppen ASA, General Electric Company, BAE Systems plc, Rheinmetall Defence, Moog, Inc., Lockheed Martin Corporation, Elbit Systems Ltd., Thales Group, The Raytheon Company and General Dynamics Corporation among others.

Global Military Vetronics Market, 2015 – 2023: By System

  • Control and Data Distribution Systems
  • Display Systems
  • Power Systems
  • Vehicle Management Systems
  • Other Vetronics Systems

Global Military Vetronics Market, 2015 – 2023: By Vehicle Type

  • Light Protected Vehicles
  • Infantry Fighting Vehicles
  • Armored Personnel Carriers
  • Unmanned Ground Vehicles
  • Armored Amphibious Vehicles

Global Military Vetronics Market, 2015 – 2023: By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • UK
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East and Africa (MEA)
      • Saudi Arabia
      • UAE
      • Israel
      • South Africa
      • Rest of MEA
    • South America
      • Brazil
      • Rest of South America