Vetronics Market worth 3.51 Billion USD by 2021


Posted September 28, 2016 by Rajesh

The vetronics market is driven by various factors, such as network centric warfare, situational awareness, embedded technology system commonality, shift towards COTS enabled improved SWaP specifications, among others.

 
The vetronics market is projected to grow from USD 2.85 Billion in 2016 to USD 3.51 Billion by 2021, at a CAGR of 4.30% during the forecast period. The vetronics market is driven by various factors, such as network centric warfare, situational awareness, embedded technology system commonality, shift towards COTS enabled improved SWaP specifications, among others. This report forecasts the vetronics market and its dynamics during the next five years, while also recognizing market applications, evolving technologies, recent developments in the market, and high potential geographic regions and countries. The base year considered for the study is 2015, and the forecast period is between 2016 and 2021.

Objectives of the Study:

The report analyzes the market on the basis of application (defense and homeland security), vehicle type (main battle tank, light protected vehicle, amphibious armored vehicles, mine resistant ambush protected vehicles, infantry fighting vehicles, armored personnel carriers, among others), and subsystem (communication & navigation, observation & display systems, C3 systems, weapon & control systems, sensor & control systems, vehicle protection systems, and power systems). It maps these segments and subsegments across major regions namely, North America, Europe, Asia-Pacific, the Middle East, and the Rest of the World.

The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the vetronics market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall vetronics market.

The report also covers competitive developments, such as long-term contracts, joint ventures, mergers & acquisitions, new product launches and developments, and research & development activities in the global vetronics market in addition to strategies adopted by key market players.

Research Methodology:

The research methodology used to estimate and forecast the vetronics market begins with obtaining data about key vendor revenues through secondary research, such as company websites, annual reports, press releases, investor presentations, SEC filings, secondary journals, industry news websites, and expert interviews. Vendor offerings are also taken into consideration to determine market segmentation. Bottom-up procedure was employed to arrive at the overall market size of the vetronics market from revenues of key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with expects, such as CEOs, VPs, directors, and executives, among others. Data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. Breakdown of profiles of primaries is depicted in the figure below:

Vetronics Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the vetronics market comprises software/hardware/service, and solution providers, manufacturers, distributors, and end users. Some of the key players in the vetronics market are Thales Group (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden), General Dynamics Corporation (U.S.), Curtiss Wright Corporation (U.S.), Elbit Systems (Israel), Leonardo-Finmeccanica SPA (Italy), Harris Corporation (U.S.), Rheinmetall AG (Germany), BAE Systems (U.K.), among others. These players are adopting various strategies, such as agreements and partnerships, new product developments, contracts, and expansion to strengthen their positions in the vetronics market. They are also focusing on the development of new products with higher accuracy and reduced weight, by investing considerable amount of their revenue on R&D.

Target Audience

Software/Hardware/Service and Solution Providers
Technology Support Providers
Military Land Vehicles Manufacturers
Subcomponent Manufacturers
Scope of the Report

By Application

Defense
Homeland Security
By Vehicle Type

Main Battle Tank
Light Protected Vehicles
Amphibious Armored Vehicles
Mine resistant ambush protected
Infantry Fighting Vehicle
Armored Personnel Carriers
Others
By Subsystem

Communication & Navigation
Observation and Display Systems
C3 Systems
Weapon Control Systems
Sensor & Control Systems
Vehicle protection Systems
Power Systems
By Region

North America
Europe
Asia-Pacific
Middle East
Rest of the World
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Website Vetronics Market worth 3.51 Billion USD by 2021
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Country India
Categories Technology
Last Updated September 28, 2016