Global Military Land Vehicle Electronics Market was valued $3.64 Bn in 2020 and is expected to reach $5.01 Bn by 2026, at a CAGR of 4.73%.
Military Land Vehicle Electronics Market Introduction
Military Land Vehicle Electronics (Vetronics) comprises the electronic components associated with vehicles that are mainly operated by the defence organizations. These include various systems such as navigation systems, display systems, C3 Systems, weapon control systems. The rapid uptake of electronics utilisation for military vehicles and the trend in designing vehicles based on open standards and architectures (such as the UK MoD Generic Vehicle Architecture – Def Stan 23-09 GVA) have resulted in modern and future vehicles becoming highly complex platforms. Modern militaries look to technology firms to inject existing ground combat vehicles with robust, yet cost-effective electronics and electro optics innovations. This modernization is expected to grow the market for military land vehicle electronics market.
Military Land Vehicle Electronics Market Dynamics
Variables such as focusing on improving frontlines situational awareness and increasing occurrences of asymmetric and network-centered warfare have a major positive impact over the military land vehicle electronics (Vetronics) market. Moreover, the increase in defence spending, particularly in emerging economies, and subsequent investments in the procurement of such systems are further boosting the growth of the market.
Factors such as strict regulations and consequent delays in procurement processes, however, hinder the growth of the market to some extent. Increasing terrorist attacks and a focus on counter operations, and the launch of vehicle modernization programs by many nations around the world, have created promising opportunities for the military land vehicle electronics (Vetronics) market to grow. Digitalisation will continue to drive the market forward and large-scale, military modernisation programmes will begin to fulfil.
However, high cost of military vehicles and their maintenance is affecting the market growth. The trend of producing own defence equipment’s in developed economies is affecting the import rate from other countries. These factors may restrain the growth of military land vehicle electronics market.
Military Land Vehicle Electronics Market Segment Analysis
By Vehicle type, MRAP vehicles to dominate the Military Land Vehicle Electronics Market
In this era of insurgencies, terrorism, proxy wars and employment of irregular forces, the use of mine-resistant ambush protected (MRAP) vehicles by armies around the world has been on the increase. Mine-Resistant, Ambush-Protected (MRAP) vehicles are a family of vehicles produced by a variety of domestic and international companies. They generally incorporate a “V”-shaped hull and armor plating designed to provide protection against mines and improvised explosive devices (IEDs). For instance, On May 7 2020, the US State Department made a determination approving a possible Foreign Military Sale to the Government of the UAE of Excess Defence Articles (EDA) of up to four thousand five hundred sixty-nine (4,569) MRAP vehicles for an estimated cost of $556 million. This sale boosted the segment growth for MRAP Vehicles in the US Region, thereby driving the vetronics market.
By system type, the C3 & C4ISR/EW Systems along with AI are boosting market growth.
The increasing need for responsive C3 systems is being driven by the rapidity with which weapons can be deployed. The C3 system has become relatively efficient in dealing with short reaction times. NTDS and other comparable tactical C3 systems have begun to satisfy the requirements of on-scene commanders. As these systems expand in capability, remote commanders will become increasingly involved at the tactical level, especially where the engagement has strategic significance. Current technology has already placed heads of government in direct communication with one another.
The principal function of the intelligence, surveillance, and reconnaissance (ISR) component of command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) is to find, fix, and track both friendly and hostile forces, as well as to assess damage to hostile targets in an area of interest. In addition to sensing (collection), the function includes the tasking of sensors and the integration, interpretation, and exploitation of sensed information. C4ISR Architecture Framework enables operationally driven solutions increasing the efficiency of the war fighter in user driven domains.
To Know About The Research Methodology :- Request Free Sample Report
Global Military Land Vehicle Electronics Market Regional Insights
Global Military Land Vehicle Electronics Market 1
• North America is expected to dominate the global market with a market value of USD 1.92 Billion owing to the increasing R&D investment in this sector coupled with an infrastructure.
• The early adoption of Vetronics technology in North America is also fuelling the market growth. Focus by the U.S. Department of Defense (DOD) on developing military vehicles in the recent years have resulted in the market witnessing a significant surge in demand in this region.
• Moreover, the current military operations and exercises in the Middle East countries will also result in the US focusing on developing vehicle systems in terms of C3 capabilities, which will further deepen the scope of the military vetronics market in the region.
• Europe is expected to be the second-largest market with a value of USD 1.50 Billion.
• APAC is expected to grow with the highest CAGR of xx%.
For more information of visit:https://www.maximizemarketresearch.com/market-report/global-military-lan...
Scope Of Report the Global Military Land Vehicle Electronics Market: Inquire before buying
Global Military Land Vehicle Electronics Market2
Global Military Land Vehicle Electronics Market: Key Players
• 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.
• BAE Systems plc
• Curtiss-Wright Corporation
• General Dynamics Corporation
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.