Global Military Land Vehicle Electronics Market – Introduction
- Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.
- The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period.
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Global Military Land Vehicle Electronics Market –Dynamics
Key Drivers of the Military Land Vehicle Electronics Market
- Significant demand for military land vehicle electronics is expected to drive the growth of the market across the world, due to rising population who need increased land protection.
- Rising demand for new sighting devices, infrared cameras, and thermal imaging systems is expected to contribute significantly to the growth of the global military land vehicle electronics market.
- Increasing complexities in war techniques has resulted in bigger requirement for Intelligence, Surveillance and Reconnaissance (ISR) activities, which is expected to drive the military land vehicle electronics market.
- Increasing research and development investment for Intelligence, Surveillance and Reconnaissance (ISR) systems, such as infrared vision systems, thermal sights, and laser target designators across developed and developing countries is expected to accelerate the growth of the military land vehicle electronics market.
Restraints of the Military Land Vehicle Electronics Market
- High cost of military land vehicle electronics and their maintenance is one of the negative factors that can restrain the growth of the military land vehicle electronics market.
- The new trend in developed countries to produce their own defense equipment is also an issue hampering the import of vehicles from other countries. This can adversely impact the global military land vehicle electronics market.
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North America to Hold Major Share of the Global Military Land Vehicle Electronics Market during the Forecast Period
- North America is expected to hold significant share of the military land vehicle electronics market over the forecast period. In Addition to it, the U.S. is mostly maintaining and upgrading its existing military fleets rather than replacing them with new ones.
- Europe is projected to hold substantial share in the global military land vehicle electronics market during the forecast period owing to increased investment in research and development for the growth of advanced military land vehicle electronics.
- The military land vehicle electronics market is likely to grow at a significant rate in Asia Pacific during the forecast period due to rising terrorist attacks across the region.
Global Military Land Vehicle Electronics Market –Competitive Landscape
Key Players Operating in the Global Market
The global military land vehicle electronics market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. A few of the key players operating in the global military land vehicle electronics market are listed below:
- Bharat Electronics Limited (BEL)
- General Electric
- Gresham Power Electronics Limited
- Kalyani Strategic Systems Ltd.
- Leonardo DRS, Inc.
- Mahindra Emirates Vehicle Armouring
- Rheinmetall AG
- Saab AB
- Thales Group
- Thomas Electronics
- W. L. Gore & Associates, Inc.
In September 2017, Kongsberg and Thales Group signed an extension to their agreement for providing remote weapon systems to British defense forces, which was made in 2007.
Global Military Land Vehicle Electronics Market –Research Scope
The global military land vehicle electronics market can be segmented based on:
- Vehicle Type
- System Type
Global Military Land Vehicle Electronics Market, by Vehicle Type
- Mine Resistant Ambush Protected (MRAP) Vehicles
- Main Battle Tanks
- Armored Personnel Carrier
- Light Protected Vehicles
- Infantry Fighting Vehicles
- Amphibious Armored Vehicles
Global Military Land Vehicle Electronics Market, by System Type
- Observation, Display & Computing Systems
- Weapon Control Systems
- Vehicle Protection Systems
- C3 & C4ISR/EW Systems
- Navigation Systems
- Sensor & Control Systems
- Power Systems
Global Military Land Vehicle Electronics Market, by Applications
Global Military Land Vehicle Electronics Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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