Military investments boost demand in the Global Military Vetronics Market

Market Overview:
The global military vetronics market is expected to experience a CAGR of around 5% during the period 2020 to 2025.

Vetronics generally refers to vehicle electronics that allow military units to incorporate multiple systems, including command, communication, control, navigation system, vehicle protection systems, surveillance system, and control system. Electronic vehicle warfare to modernize activities such as navigation, communication, management and monitoring of vehicle status. Therefore, the growing demand for vetronics is expected to drive the market in the foreseen period.

Recent Developments:
Oshkosh Defense, LLC, an Oshkosh Corporation company, recently published that the US Army Contracts Command Detroit Arsenal has ordered for over 248 Joint Light Tactical Vehicles (JLTV) and associated kits.
Market Drivers and Restraints:

The need for soldier modernization programs undertaken by military forces around the world. Countries such as the United States, France, India, and Australia have made great strides in military modernization in recent years and these long-term programs will ensure continued demand for military vetronics over the forecast period. Increasing demand for UAVs and drones is also expected to support market growth, as well as the overall growth of the vetronics market. The evolution of the economy and the decrease in the defense budget will constitute a limitation for the global vetronics market.

Impact of COVID-19:
The global pandemic caused by the novel coronavirus comes a time when both the global economy and the automotive industry were hoping for recovery. The decrease in the sales of vehicles as a part of lock down has affected the overall military vetronics market demand.

To know more read:
https://www.marketdataforecast.com/market-reports/military-vetronics-market

Report is segmented as:
By Product Type:
• Navigation System
• Communication System
• Power System
• Control and Data Distribution System
• C4 System
• Display System
• Others

By Application:
• Unmanned Ground Vehicles
• Light Protected Vehicles
• Special Purpose Vehicles
• Armored Amphibious Vehicles
• Other

Based on the application, the defense segment is expected to own the majority of the vetronics market during the forecast period. Therefore, the increasing need for new observation devices, as well as infrared cameras and thermal imaging systems, is contributing significantly to the growth of the global market for vetronics defense systems. The growing trend of various defense forces to integrate technologically advanced electronic systems into military vehicles to increase vehicle operational efficiency is driving the market for military vetronics around the world. The defense industry's evolution towards on-board technology and the development of robust systems of reduced size, weight and power consumption (SWaP) for extreme military applications are expected to further drive the growth of the vetronics market for military during the forecast period.

By Fit:
• Retrofit
• Line-fit

Geographical segmentation:
Based on geography, the global military vetronics market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America is estimated to have the largest share during the foreseen period. The US Department of Defense (DOD) focus on military vehicle development in recent years has led to an increase in market demand in this locale.

Key market players:
Some of the major players in the global military vetronics market include Oshkosh Corporation, AssaAbloy AB, General Electric Company, Lockheed Martin Corporation, Raytheon Company, Ultra Electronics Holdings plc, SAAB AB, General Dynamics Corporation, BAE Systems PLC, Thales S.A., Curtiss-Wright Corporation, and Kongsberg Gruppen.

View sample and decide:
https://www.marketdataforecast.com/market-reports/military-vetronics-market/request-sample

Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:
Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

For more information:
Market Data Forecast
Email: [email protected]
Tel: +1-888-702-9626
Website: https://www.marketdataforecast.com/