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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.
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.
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
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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.
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
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
