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(Transportation-News.com, August 12, 2017 )
According to Stratistics MRC, the Global Vetronics market is estimated at $3,105.23 million in 2016 and is expected to reach $4701.56 million by 2023 growing at a CAGR of 6.1% from 2016 to 2023. Easy availability of cost-effective components, emergence of wireless communication technology and availability of new energy solutions are some key factors fueling the market. However, factors such as defense budget cuts and high power consumptions are some factors hindering the market growth.
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Amongst Application, defense segment is anticipated to acquire the largest share of the market during the forecast period. Increasing defense spending especially in emerging economies like India and China is the key factor responsible for the growth of this segment. Asia Pacific region is likely to grow at the highest CAGR during the forecast period. This can be due to the increasing defense spending of leading countries, such as China, India, Japan, and Australia, among others. In addition, need for technologically advanced vetronics a system is also a key factor impelling the growth of the market in this region.
Some of the key players in the market include Ultra Electronics Ltd., Thales Group, TE Connectivity, Saab Group, Rheinmetall AG, Raytheon Company, Oshkosh Corporation, Moog, Inc., Lockheed Martin Corporation, Leonardo-Finmeccanica S.P.A, Harris Corporation, General Dynamics Corporation, Elbit Systems Ltd., Curtiss-Wright Corporation and BAE Systems PLC.
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Vehicle Types Covered:
Amphibious Armoured Vehicles
Infantry Fighting Vehicles
Main Battle Tanks
Armored Personnel Carriers
Mine Resistant Ambush Protected (MRAP) Vehicles
Light Protected Vehicles
Other Vehicle Types
Subsystems Covered:
Military communication, command and control (C3) system
Sensor & Control Systems
Power Systems
Communication & Navigation Systems
Observation & Display Systems
Vehicle Protection Systems
Weapon Control Systems
Applications Covered:
Homeland Security
Defense
Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
Rest of Asia Pacific
Rest of the World
Middle East
Brazil
Argentina
South Africa
Egypt
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– Market share assessments for the regional and country level segments
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List Of Tables:
1 Global Vetronics Market Outlook, By Region
2 Global Vetronics Market Outlook, By Vehicle Type
3 Global Vetronics Market Outlook, By Amphibious Armoured Vehicles
4 Global Vetronics Market Outlook, By Infantry Fighting Vehicles
5 Global Vetronics Market Outlook, By Main Battle Tanks
6 Global Vetronics Market Outlook, By Armored Personnel Carriers
7 Global Vetronics Market Outlook, By Mine Resistant Ambush Protected (MRAP) Vehicles
8 Global Vetronics Market Outlook, By Light Protected Vehicles
9 Global Vetronics Market Outlook, By Other Vehicle Types
10 Global Vetronics Market Outlook, By Subsystem
11 Global Vetronics Market Outlook, By Military communication, command and control (C3) system
12 Global Vetronics Market Outlook, By Sensor & Control Systems
13 Global Vetronics Market Outlook, By Power Systems
14 Global Vetronics Market Outlook, By Communication & Navigation Systems
15 Global Vetronics Market Outlook, By Observation & Display Systems
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