Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global vetronics market size reached US$ 3.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.78% during 2023-2028.

Vetronics, or vehicle electronics, refers to the collection of various electronic subsystems within an automobile. It is primarily used by military units to integrate systems, such as communication, command, navigation, surveillance and vehicle health management. It consists of various automotive electronic technologies, such as autonomous driving, sensors and secure communications systems. These systems are integrated with battle tanks, and light-protected, armored and infantry fighting vehicles. They are also equipped with sophisticated technologies, such as HD video calling, advanced threat detection sensors, high bandwidth networking and portable power systems.

Significant growth in the automotive industry is one of the key factors driving the growth of the market. Furthermore, the increasing focus of military and defense services on enhancing their situational awareness is also providing a boost to the market growth. Owing to the rising concerns regarding geopolitical unrest and cross-border security, along with increasing instances of border breaching, there is widespread adoption of vetronics for improving inter- and intra-vehicle communications, surveillance and navigation. Additionally, various technological advancements, including the emergence of wireless communications technology and increasing modernization of military vehicles, are also creating a positive impact on the market. For instance, unmanned vehicles (UMV) and drones are used for surveillance purposes, along with various commercial applications, such as capturing images and videos of sporting events and cityscapes. Other factors, including the availability of cost-effective components and increasing government investments in the defense sector, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vetronics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, vehicle type, subsystem and fit.

Breakup by Application:

Defense
Homeland Security

Breakup by Vehicle Type:

Main Battle Tanks
Light Protected Vehicles
Amphibious Armoured Vehicles
Mine Resistant Ambush Protected (MRAP) Vehicles
Infantry Fighting Vehicles
Armored Personnel Carriers
Others

Breakup by Subsystem:

Navigation Systems
Observation and Display Systems
C3 Systems
Weapon Control Systems
Sensor and Control Systems
Vehicle Protection Systems
Power Systems
Others

Breakup by Fit:

Line-Fit
Retrofit

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being BAE Systems PLC, Curtiss-Wright Corporation, General Dynamics Corporation, Harris Corporation, Leonardo-Finmeccanica S.P.A, Lockheed Martin Corporation, Raytheon Company, Rheinmetall AG, Saab Group, Thales Group, etc.

Key Questions Answered in This Report:

How has the global vetronics market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global vetronics market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the subsystem?
What is the breakup of the market based on the fit?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vetronics market and who are the key players?
What is the degree of competition in the industry?