Vetronics Market | Global Trends & Military Opportunities

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Vetronics Market Global Trends Military
Opportunities
Aerospace and Defense 29, September 2022
Technology has significantly advanced,
playing a crucial role in several
industries. The paradigm for RD in the defense
sector has evolved investments in vetronics. This
is a result of the growing trend across
different defense forces to equip
military vehicles with technologically
sophisticated electronic systems. According to
our experts, the global vetronics market
was valued at 3668.33 million in 2021 and is
expected to reach 5372.01 million by 2028, with
a CAGR of 5.62 during the forecast period
2022-2028.
Vetronics, also known as vehicle
electronics, enables military units to
implement and integrate systems such as
communication, command and control, vehicle
warfare, navigation, vehicle protection, and
surveillance. Over the years, its relevance
has increased as defense departments seek to
make their armed forces lighter, faster, and more
deployable. Integration of Digitalization in
Battlefield Operations
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• The digitization of domains such as
  communication and surveillance is critical
  in the integrated operations of the modern
  battlefield. Electronic warfare has already been
  adopted as a sub-domain by the majority of
  advanced nations. They actively engage in
  advanced capability research to equip their
  forces and gain a tactical advantage over their
  competitors.
• For example, the US Army is testing the
  Electronic Warfare Tactical Vehicle (EWTV),
  containing an unspecified specification of radio
  jamming equipment. It can detect and disrupt a
  wide range of signals, from cellphones to enemy
  UAV control links.
• Factors such as ease of deployment and a
  broad range of sensing and disruption are
  key features incorporated in modern armored
  vehicle-mounted jamming systems that increase
  their utility. The rapid adoption of such
  technology is expected to drive the studied
  market during the forecast period.
• Additionally, the ongoing military modernization
  programs in respective armies worldwide have
  increased the number of land-based vehicles. Our
  study suggests tanks are the fastest growing
  land-based fleet type segment, with a CAGR of
  5.82 during the forecast period. The development
  is due to the interconnection systems of the new
  tanks. The technological update enables tanks
  to integrate with wheeled armored vehicles
  outfitted with standard vetronics to collect
  and transform battlefield sensor data into
  high-value security and combat services.
• Impact of Competitors Strategic Initiatives
• The global vetronics market is highly
  fragmented, with key players controlling
  significant market shares. Major companies
  like Thales Group, Lockheed Martin
  Corporation, and L3Harris Technologies
  continue to invest in the RD of military
  robotics and related subsystems. Such
  measures have enabled them to expand the
  spectrum of applications for their distinctive
  and exclusive product line of vetronics.
• The market participants operations focus on
  designing, engineering, and manufacturing
  high-performance vetronics for the worlds
  armed forces terrestrial assets.
  Furthermore, because a contract for armored
  vehicles necessitates high technological
  expertise, the companies are merging to enhance
  their current portfolio.
• Some of the examples are listed below-
• Collins Aerospace Military Global
  Positioning System (GPS) division was
  successfully acquired by BAE Systems, bringing
  decades of experience, cutting-edge technology,
  and a sizable installed base of products.
• With the purchase of Gemalto by Thales for 4.8
  billion, the acquisition will cover every step of
  the important decision-making process in the
  digital age, from sensor- generated data to
  real-time decision support.
• Curtiss-Wright Corporation announced on July
  5, 2022, that it had successfully acquired
  the Safran Aerosystems Arresting Company (SAA)
  for 240 million in cash. The acquisition of
  Safrans arresting systems division
  solidifies Curtiss-position Wright as the
  worlds leading recovery and arresting systems
  provider for fixed-wing aircraft. Curtiss-Naval
  Wrights Power division will include the
  company.

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Key Challenges Regional Opportunities Although
cuts in the defense budget and the rising cost of
raw materials can challenge the vetronics
market, it is continuously expanding due to
breakthrough technology in military
vehicles. The current fiscal condition
worldwide is the key barrier to the markets
expansion. Many emergent breakthroughs offer
considerable long-term benefits but need
significant investments in deploying new
technologies and platforms. Based on the global
scenario, the North America vetronics market held
the largest share in 2021 and is expected to
maintain its stronghold throughout the
forecasting period. The region is witnessing
considerable growth, owing to its military
and government efforts to modernize its army
and fleet. Additionally, the United States is
the key contributor to the regional market,
accounting for 96.93 of the share in 2021.
The countrys large market share is due to
the rapid development of venture capital
markets. For instance, American Rheinmetall
Systems has received a multi-million-dollar
investment to offer cutting-edge combat
vehicle mission systems technologies to support
the modernization of US Army combat
vehicles. FAQ Ques 1 Which segments are
studied in the Vetronics Market? Land-based fleet
type, component and vertical are the segments
studied in vetronics market. Ques 2 What are
the key component of vetronics market? Electronic
Warfare C4 Systems, Navigation Systems,
Power Systems, and Vehicle Protection Systems
are the key component of vetronics market.