Global Military Vetronics Market Size study & Forecast, by Product Type, by Platform, by Application and Regional Analysis, 2023-2030

Description

List of Tables

Global Military Vetronics Market is valued at approximately USD 6.72 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.68% during the forecast period 2023-2030. Military vetronics encompasses a diverse range of electronic systems integrated into vehicles to manage critical functions such as communication, navigation, and weaponry. This comprehensive system comprises components spanning from circuit boards and chips to displays and power electronics. The seamless flow of real-time data, collected and analyzed by these electronic systems, is facilitated through wireless communication. This capability significantly enhances soldiers' situational awareness, particularly in challenging battlefield settings, empowering them with crucial information for effective decision-making and mission execution. The Military Vetronics Market is expanding because of factors such as rising initiatives for military modernization activities, rising demand for unmanned systems and rising global military spending.

The rising global military spending enables armed forces to integrate cutting-edge technologies into their fleets, driving the demand for vetronics components and systems. As nations worldwide allocate increased budgets to bolster their defense capabilities, there is a heightened emphasis on modernizing military vehicles with cutting-edge technologies, including advanced vetronics systems. As per the Stockholm International Peace Research Institute (SIPRI), there was a 2.6% increase in global military spending, reaching around USD 1.82 trillion between 2017 and 2019 which rose by 3.7% in real terms in 2022, to reach a record high of USD 2.24 trillion. In addition, the introduction of advanced technologies and rising procurement of advanced combat vehicles are creating new opportunities for market growth. However, international regulatory compliance and cybersecurity concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Military Vetronics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The robust growth of the Military Vetronics Market can be credited to substantial defense expenditures dedicated to acquiring cutting-edge vehicles and enhancing existing ones, particularly in the United States. The market is set to receive additional momentum with the significant presence of key players in North America, such as Lockheed Martin Corporation, L3Harris Technologies, Inc., Raytheon Technologies Corporation, and General Dynamics Corporation. Asia Pacific is expected to grow at the fastest rate over the forecast period. The expansion in the Military Vetronics Market can be linked to the escalating menace of terrorist activities in Asian nations, ongoing political conflicts related to cross-border issues, and the escalating defense investments made by various countries throughout the region. An illustrative example is the approval by the Indian Ministry of Defense in June 2020 for the acquisition of 156 BMP 2 infantry vehicles for the Indian Army. As a result, all these vehicles are produced at the Ordnance Factory Medak as part of the Make in India program.

Major market player included in this report are:

BAE Systems PLC
General Dynamics Corporation
L3Harris Technologies, Inc.
Leonardo S.p.A
Lockheed Martin Corporation
Raytheon Technologies Corporation
Rheinmetall AG
Saab AB
Thales Group
Oshkosh Corporation

Recent Developments in the Market:

In July 2021, The United States Army entered a USD 72.5 million contract with BAE Systems for the enhancement of artillery armored combat vehicles through the integration of digital vetronics. This initiative aims to upgrade the M109A7 armored combat vehicle by incorporating advanced digital vetronics and a modernized power system.
In February 2021, The Army Contracting Command, located at Detroit Arsenal in Warren, Mich., recently announced the awarding of a USD 942.9 million contract to Oshkosh for the development and servicing of the Stryker Medium-Caliber Weapon system. This system, equipped with a 30-millimeter cannon on the eight-wheel Stryker combat vehicle, is designed to effectively neutralize lightly armored vehicles and bunkers.

Global Military Vetronics Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product Type, Platform, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

Communication & Navigation System
Power System
Display System
C4 System
Others

By Platform:

Unmanned Ground Vehicles
Main Battle Tanks and other Armored Vehicles
Light Protected Vehicles
Special Purpose Vehicles
Amphibious Vehicles
Others

By Application:

OEM
Aftermarket

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Military Vetronics Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Military Vetronics Market, by Product Type, 2020-2030 (USD Billion)
- 1.2.3. Military Vetronics Market, by Platform, 2020-2030 (USD Billion)
- 1.2.4. Military Vetronics Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Military Vetronics Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Military Vetronics Market Dynamics

3.1. Military Vetronics Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Rising initiatives for military modernization activities
  - 3.1.1.2. Rising demand for unmanned systems
  - 3.1.1.3. Rising global military spending
- 3.1.2. Market Challenges
  - 3.1.2.1. International regulatory compliance
  - 3.1.2.2. Cybersecurity concerns
- 3.1.3. Market Opportunities
  - 3.1.3.1. Introduction of advanced technologies
  - 3.1.3.2. Rising procurement of advanced combat vehicles

Chapter 4. Global Military Vetronics Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Military Vetronics Market, by Product Type

5.1. Market Snapshot
5.2. Global Military Vetronics Market by Product Type, Performance - Potential Analysis
5.3. Global Military Vetronics Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Military Vetronics Market, Sub Segment Analysis
- 5.4.1. Communication & Navigation System
- 5.4.2. Power System
- 5.4.3. Display System
- 5.4.4. C4 System
- 5.4.5. Others

Chapter 6. Global Military Vetronics Market, by Platform

6.1. Market Snapshot
6.2. Global Military Vetronics Market by Platform, Performance - Potential Analysis
6.3. Global Military Vetronics Market Estimates & Forecasts by Platform 2020-2030 (USD Billion)
6.4. Military Vetronics Market, Sub Segment Analysis
- 6.4.1. Unmanned Ground Vehicles
- 6.4.2. Main Battle Tanks and other Armored Vehicles
- 6.4.3. Light Protected Vehicles
- 6.4.4. Special Purpose Vehicles
- 6.4.5. Amphibious Vehicles
- 6.4.6. Others

Chapter 7. Global Military Vetronics Market, by Application

7.1. Market Snapshot
7.2. Global Military Vetronics Market by Application, Performance - Potential Analysis
7.3. Global Military Vetronics Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Military Vetronics Market, Sub Segment Analysis
- 7.4.1. OEM
- 7.4.2. Aftermarket

Chapter 8. Global Military Vetronics Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Military Vetronics Market, Regional Market Snapshot
8.4. North America Military Vetronics Market
- 8.4.1. U.S. Military Vetronics Market
  - 8.4.1.1. Product Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Platform breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Military Vetronics Market
8.5. Europe Military Vetronics Market Snapshot
- 8.5.1. U.K. Military Vetronics Market
- 8.5.2. Germany Military Vetronics Market
- 8.5.3. France Military Vetronics Market
- 8.5.4. Spain Military Vetronics Market
- 8.5.5. Italy Military Vetronics Market
- 8.5.6. Rest of Europe Military Vetronics Market
8.6. Asia-Pacific Military Vetronics Market Snapshot
- 8.6.1. China Military Vetronics Market
- 8.6.2. India Military Vetronics Market
- 8.6.3. Japan Military Vetronics Market
- 8.6.4. Australia Military Vetronics Market
- 8.6.5. South Korea Military Vetronics Market
- 8.6.6. Rest of Asia Pacific Military Vetronics Market
8.7. Latin America Military Vetronics Market Snapshot
- 8.7.1. Brazil Military Vetronics Market
- 8.7.2. Mexico Military Vetronics Market
8.8. Middle East & Africa Military Vetronics Market
- 8.8.1. Saudi Arabia Military Vetronics Market
- 8.8.2. South Africa Military Vetronics Market
- 8.8.3. Rest of Middle East & Africa Military Vetronics Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. BAE Systems PLC
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. General Dynamics Corporation
- 9.3.3. L3Harris Technologies, Inc.
- 9.3.4. Leonardo S.p.A
- 9.3.5. Lockheed Martin Corporation
- 9.3.6. Raytheon Technologies Corporation
- 9.3.7. Rheinmetall AG
- 9.3.8. Saab AB
- 9.3.9. Thales Group
- 9.3.10. Oshkosh Corporation

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Military Vetronics Market, report scope
TABLE 2. Global Military Vetronics Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Military Vetronics Market estimates & forecasts by Product Type 2020-2030 (USD Billion)
TABLE 4. Global Military Vetronics Market estimates & forecasts by Platform 2020-2030 (USD Billion)
TABLE 5. Global Military Vetronics Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 6. Global Military Vetronics Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Military Vetronics Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Military Vetronics Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Military Vetronics Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Military Vetronics Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Military Vetronics Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Military Vetronics Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Military Vetronics Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Military Vetronics Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Military Vetronics Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Military Vetronics Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Military Vetronics Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Military Vetronics Market
TABLE 71. List of primary sources, used in the study of global Military Vetronics Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Military Vetronics Market, research methodology
FIG 2. Global Military Vetronics Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Military Vetronics Market, key trends 2022
FIG 5. Global Military Vetronics Market, growth prospects 2023-2030
FIG 6. Global Military Vetronics Market, porters 5 force model
FIG 7. Global Military Vetronics Market, pest analysis
FIG 8. Global Military Vetronics Market, value chain analysis
FIG 9. Global Military Vetronics Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Military Vetronics Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Military Vetronics Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Military Vetronics Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Military Vetronics Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Military Vetronics Market, regional snapshot 2020 & 2030
FIG 15. North America Military Vetronics Market 2020 & 2030 (USD Billion)
FIG 16. Europe Military Vetronics Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Military Vetronics Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Military Vetronics Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Military Vetronics Market 2020 & 2030 (USD Billion)