Market Overview
Vetronics (vehicle electronics) are used in military land vehicles to enable navigation, observation, and communication. They can help in the exchange of inter-vehicular or intra-vehicular information. These systems increase warfare capabilities by facilitating the military in their intelligence, surveillance, and reconnaissance missions.
The global Military Vetronics market by application is expected to grow steadily in the next few years. This growth is driven by the rising demand for advanced vetronics systems enabling enhanced performance, military modernization programs, and changing nature of warfare (technology-centric warfare) among others. Demand from major markets such as Europe and the US, along with the rising demand from emerging nations in the APAC is also expected to be a major factor for the market growth.
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Competitive Landscape
Western vendors mainly dominate the initiatives for OSA, which has become an integral aspect of vetronics. The British Generic Vehicle Architecture and American VICTORY system is paving the path to ongoing and future OSA adoption.
The Military Vetronics market by application is highly competitive and vendors compete on the basis of cost, product quality, reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality vetronics systems.
Market Segmentation
For the convenience of the report and enhanced understanding; the Military Vetronics market by application is segmented in to three key dynamics
Segmentation by Vehicle Type: Light Protected Vehicles, Unmanned Ground Vehicles, Armored Amphibious Vehicles, and Special Purpose Vehicles.
Segmentation by System: (Communication, Navigation, C3 Systems, and Power Systems).
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.
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Regional Analysis
The traditional markets in the US and Europe have been extensively spending for military modernization along with the upgrades of existing military land vehicle fleets. It helps to maintain the operability of the existing land vehicles rather than replacing the entire fleet of ageing vehicles. Meanwhile, the emerging nations are also buying new land vehicles as the additional strength to their respective military forces. Emerging nations such as China, and India, have a large number of military troops, and land military is one of the major force for border defense in both the countries. In the present scenario of increased security concerns, these nations have increased their respective defense budgets, and also for purchase and upgrade of military land vehicles and vetronics.
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