The global vetronics market is estimated to grow at a CAGR of nearly 5.0% during the forecast period. Vetronics refers to electronic systems on a vehicle which is designed to control functions including communications, navigation, and weapons. Vehicle-equipped with information technology has been gaining significance in the battlefield as it offers advanced capabilities which is essential for both force protection and force projection. Increasing modernization and upgradation of military vehicles is the key factor that is contributing to the growth of the market. The military sector is one of the important concerns for governments and key leaders of a country. The competitiveness in the industry has increased substantially due to the advancement of the defense sector of the developed economies such as the US, and Japan.
Moreover, the modernization is directly proportional to the public and private investment. For instance, modernization is the fourth pillar of the US military which includes infrastructure and technology in the force structure, readiness, and sustainability. Additionally, emerging economies such as China, Israel, and India are moving rapidly towards the modernization of defense forces and vehicles to maintain the competitiveness of the armed forces. This, in turn, increased the need for military vehicles that are mounted with significantly optimized electronic command and information systems. This leads to the adoption of vetronics systems that supports to optimize computing resources and platform electronics, enabling the integration into the vehicles, and improving the supportability and logistics in operating conditions. The technology assists in both mission independent and mission-specific strategies.
Vetronics supports the military ground forces by enhancing the intelligence, surveillance, and reconnaissance (ISR) capabilities, which thereby offers increased situational awareness and survivability. Sensors gather mission-critical information to leverage mission effectiveness, warfighter, safety, and ISR, as well as supports in a network-centric battlefield. The vetronics integrators and ground military vehicle manufacturers are focusing on Commercial Off-the-Shelf (COTS) smart displays for vehicle retrofits. As the military modernization programs are ramping up, the demand for vetronics systems is expected to emerge continuously in the future. The US Army has some upgrade programs in the initial stage which aims to upgrade C4ISR equipment and systems on MRAP vehicles, modernize Bradley Fighting Vehicles, and convert M1A1 and M1A2 SEPV1 Abram tanks to the M1A2 SEP V2 configuration. These kinds of modernization programs will offer a significant opportunity for the global vetronics market.
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Vetronics Market- Segmentation
By Subsystem Type
- Navigation System
- C3 Systems
- Sensors (EO and IR)
- Vehicle Electronic Warfare System
- Others
By Application
- Defense
- Homeland Security
- By Vehicle Type
- Amphibious Armored Vehicles
- Main Battle Tank
- Light Protected Vehicles
- Others
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Vetronics Market– Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
Company Profiles
- BAE Systems plc
- Cubic Corp.
- Curtiss-Wright Corp.
- ECRIN Systems
- Elbit Systems Ltd.
- GACI Rugged Systems
- General Dynamics Corp.
- Kratos Defense & Security Solutions, Inc.
- L3 Technologies, Inc.
- Leonardo S.p.A.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Pleora Technologies Inc.
- Rafael Advanced Defese Systems Ltd.
- Raytheon Technologies Corp.
- Rheinmetall AG
- Saab AB
- Serco, Inc.
- Thales Group
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