11 June 2019
Visiongain has published a new defence report Military Land Vehicle Electronics (Vetronics) Market Report 2019-2029: Forecasts By Region (North America, Europe, Asia-Pacific, Middle East & Rest of World); By Vehicle Type (Main Battle Tanks, Light Protected Vehicles, Amphibious Armoured Vehicles, Mine Resistant Ambush Protected (MRAP) Vehicles, Infantry Fighting Vehicles, Armoured Personnel Carriers & Others); And By System Type (Navigation, Observation, Display & Computing, C3 & C4ISR/EW, Weapon Control, Sensor & Control, Vehicle Protection & Power) Plus Analysis of Leading Defence Contractors And Supplier Companies Developing Electronics For Ground Vehicle Applications.
The Military Vetronics market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 5.34 % from 2019 to 2029.
Digitalisation is having a profound, driving effect on the Vetronics market, as are major advancements in Command, Control, Communications and Computing (C4) technologies.
Visiongain anticipates that global investment and consolidation will be healthy over the next decade with defence departments continuing to modernise their existing fleets and, in some cases, beginning preparations for large-scale ground combat operations.
Leading companies such as BAE Systems, General Dynamics, Kongsberg Gruppen, Leonardo S.p.A. and Oshkosh Corporation, among others, are active in this USD 3.56 billion market.
The lead Defence Analyst said: "Since the turn of the millennium, the birth of the digital battlefield has somewhat transformed how militaries around the world overcome challenges from state and non-state actors. Analysis has shown that ground vehicles have not escaped the effects of digitalisation and, as a result, have become interconnected nodes in combat.
We have witnessed a significant increase in the amount of advanced electronic systems in military vehicles, predominantly computing, communication and display technologies. It has arguably made armed forces more agile, powerful and responsive to what is happening in the field.
It is likely that digitalisation will continue to drive the Vetronics market forward and administrations specifically in North America, Europe and the Asia-Pacific region will further commit to modernising their militaries."
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Today, the industry is a prosperous business and is being driven forward by global arms programmes and procurement activity; high defence spending and significant improvements to the finances of several influential states; and expanded efforts to develop advanced autonomous systems for great-power conflicts.
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