29 March 2021
Visiongain has published a new report on Vetronics Market Report to 2031: Forecasts by Application (Defense and Homeland Security), By Vehicle Type (Main Battle Tank, Light Protected Vehicles, Mine resistant ambush protected, Infantry Fighting Vehicle, and Others), By Subsystem (Communication & Navigation, Observation and Display Systems, C3 Systems, Weapon Control Systems, Sensor & Control Systems, and Power Systems). PLUS, Profiles of Leading Vetronics Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Vetronics market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Vetronics Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for vetronics worldwide
Upgradation of Countries to Network-Centric Warfare
Rising investments for the development of ultra-powerful radars and other communication systems by the major industry players is expected to raise the requirement to upgrade existing communication systems. This is expected to drive the growth of global vetronics market.
Shift Towards Cots Enables Improved Swap Specification
Growing focus towards COTS enabled improved SWaP specifications by the military forces are expected to drive the vetronics market over the forecast period.
Development of Vetronics Systems Which are Compatible with Hybrid Engines
The development of Vetronics systems which are compatible with hybrid engines is on the rise. For instance, in May 2019, the USAF had discussions with the major satellite operators to produce a hybrid vetronics architecture. This architecture is expected to enable the armed forces to easily switch the networks between commercial and military satellites, which will improve the connectivity, and reduce the likelihood of cyber-attacks.
Some of the companies profiled in the report include Harris Corporation, Thales Group, Saab Group
Lockheed Martin Corporation, General Dynamics Corporation, Raytheon Company, Curtiss-Wright Corporation, Leonardo-Finmeccanica S.P.A, Rheinmetall AG, and BAE Systems PLC.
• In July 2019, Belgium signed agreement with Thales for onboard intelligence and future data capabilities of its land forces
• In November 2018, the U.S. Army announced $14.4 million contract with General Dynamics Ordnance and Tactical Systems to build Ground Mobility Vehicles and kits.
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