+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Military Vetronics Players Focus on Unmanned Vehicles, Retrofitting Older Vehicles, Says TMR

Posted on Jan 27, 2016

The competitive landscape for military vetronics is characterized by the presence of key players such as Rheinmetall A.G., General Electric Company, TE Connectivity Ltd., BAE Systems PLC, and Curtiss-Wright Corporation. Most of the key players hold a leading share in the leading segments of the market, such as power systems and armored personnel carriers. Some of the companies provide specialized products and services on these segments.

The findings of a Transparency Market Research report show that vetronics players are not only following up on innovations for use in modern vehicles, but also are pushing for retrofitting older vehicles with modern vetronics. Additionally, globally prominent players are also expanding their reach in emerging economies from Asia Pacific and MEA.

High-end Vetronics Demanded by Increasingly Network-based Military Bodies

One of the top factors currently driving the revenue generation in vetronics is the growing demand by defense industries across the world through their network centric processes. Modern military warfare makes use of highly efficient networks used to relay real time data rapidly and with high accuracy.

Leading military groups and defense agencies are beginning to improve their focus on upgrading older vehicles and fleets while simultaneously obtaining new ones. These vehicles are expected to traverse extreme terrain and through rough weather and therefore are in high need of rugged vetronics systems.

North America and Europe Demilitarization Trend Could Hamper Growth of Military Vetronics

“After the war in Iraq and Afghanistan ended, there was a greater emphasis on the demilitarization of the U.S. forces. The various initiatives, such as reducing the number of military personnel, vehicles, and even weapons and ammunition, has affected the relevant markets at various degrees,” explains a TMR analyst.

The analyst adds, “The players of military vetronics have taken a particularly hard hit, because the U.S. is not only reducing military personnel and vehicle count, but is also paying more attention to unmanned vehicles and drones in terms of numbers and investments.” The consequential reduction in focus on vetronics will hamper the government investments made into this field. Most of the current players in military vetronics focus on personnel carriers and manned vehicles and therefore need to shift focus towards improving vetronics in unmanned vehicles.

Similar conditions are seen among vetronics players in Europe, where demilitarization is primarily caused by a slowed economy and increasing budget allotments to other industries. While the overall demand for vetronics is high right now, it is expected to fall steadily over the coming years.

Players in Power Systems and Personnel Carriers Can Expect High Returns till 2023

Armed with the high demand from the defense industry, the use of advanced SWaP in embedded tech, and the growing use of network oriented military operations, the global military vetronics players can expect a CAGR of 5.3% between 2015 and 2023 for the overall market revenue. By the end of 2023, this market is expected to be valued close to US$10.7 bn.

Power systems are expected to hold the largest share of revenue in 2023, of approximately US$3.4 bn. It was already the largest systems segment in 2014 and 2015 and will stay in the leading position consistently till 2023.

As for vehicle types, armored personnel carriers led the market revenue stakes in 2015 and will continue to do so till 2023, at which point it is projected to be valued at about US$4 bn.

The information presented in this review is based on a Transparency Market Research report, titled, “Military Vetronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

Key Takeaways:

Vetronics players should be cautious about the rapidly growing trend of unmanned defense vehicles being used in warfare.

US$3.45 bn is the expected revenue of power systems, which is the top grossing systems segment.

US$4.34 bn is the expected revenue from military vetronics in North America

Key Segments of the Global Military Vetronics Market

Global Military Vetronics Market, by System,

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

Global Military Vetronics Market, by Vehicle Type,

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

Global Military Vetronics Market Analysis and Forecast, by Geography,

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

Browse : Our new press releases http://www.transparencymarketresearch.com/pressrelease/global-military-vetronics-market.htm

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Back To Top