Vetronics Market projected to reach $3.51 Billion by 2021 - PowerPoint PPT Presentation

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Vetronics Market projected to reach $3.51 Billion by 2021

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The vetronics market is estimated to be USD 2.85 billion in 2016 and is projected to reach USD 3.51 billion by 2021, at a CAGR of 4.30% between 2016 and 2021. – PowerPoint PPT presentation

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Title: Vetronics Market projected to reach $3.51 Billion by 2021


1
Vetronics Market projected to reach 3.51
Billion by 2021
The vetronics market is estimated to be USD 2.85
billion in 2016 and is projected to reach USD
3.51 billion by 2021, at a CAGR of 4.30 between
2016 and 2021. Increase in network centric
warfare, embedded technology systems
commonality, shift towards COTS enabled improved
SWaP specification, and hybrid engine systems of
defense vehicles are some the factors fueling
the demand for vetronics across the
globe. Download Sample of this
Report https//www.marketsandmarkets.com/request
sample.asp?id150885501 Browse 75 market data
Tables and 70 Figures spread through 150 Pages
and in-depth TOC on "Vetronics
Market" https//www.marketsandmarkets.com/Market-
Reports/vetronics-market-150885501.html Early
buyers will receive 10 customization on this
report. Based on vehicle type, the mine resistant
ambush protected segment of the vetronics market
is projected to grow at the highest CAGR during
the forecast period, owing to rise in defense
spending of developing economies. The demand for
next generation vetronics systems is also a major
factor fueling the growth of this segment. There
has been a rise in demand for mine resistant
ambush protected vehicles, especially from
countries, such as Iraq and Afghanistan, as these
provide protection against improvised explosive
devices, rocket propelled grenades, and small
arms fire. Based on subsystem, the C3 systems
segment is estimated to account for the largest
market share during the forecast period. The
need for technologically advanced vehicles is a
major factor fueling the growth of this segment.
Overcoming future C3 challenges has been the
focus of recent initiatives by developed
nations, including automation of C3 functions,
digitization of the battlefield, and horizontal
integration of combat activities.
2
Though North America and Europe are the largest
markets for vetronics in military land vehicles,
the economic scenario has compelled countries in
these regions to trim their defense budget.
Emerging economies, such as India, Brazil, and
Saudi Arabia are being considered as lucrative
markets for vetronics due to rise in
modernization programs and procurement of
military land vehicles in these countries. China
remains an untapped market for vetronics owing to
strict government regulations regarding
indigenous programs, and copyright issues for
military hardware and technology. Key players
in the vetronics market include Thales Group
(U.S.), Raytheon Company (U.S.), Lockheed Martin
Corporation (U.S.), SAAB Group (Sweden), General
Dynamics Corporation (U.S.), Curtiss Wright
Corporation (U.S.), Elbit Systems (Israel),
Leonardo-Finmeccanica SPA (Italy), Harris
Corporation (U.S.), Rheinmetall AG (Germany),
BAE Systems (U.K.), among others. Substantial
research and development of hybrid engine
systems and innovative energy solutions are some
of the potential growth opportunities for these
players in the vetronics market. Speak to
Analyst https//www.marketsandmarkets.com/speakt
oanalyst.asp?id150885501 About
MarketsandMarkets MarketsandMarkets is the
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