The Global Market for Military Land Vetronics is Projected to Reach US$3.3 Billion by 2020

Increased Emphasis on Effective Battlefield Communications to Drive Growth in the Military Vetronics Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Military Vetronics market. Driven by the rising significance of data, voice, and video communications for effective and successful military operations, the global market for Military Land Vetronics is projected to reach US$3.3 billion by 2020.

Communication capabilities and safety of troops in the battlefield are emerging as top ranked issues for defense and military establishments across the globe. With the battlefield environment changing rapidly, there is increased emphasis on improving capabilities of combat vehicles in terms of command and control, lethality, mobility, vehicle protection, survivability and communications. Vetronics or vehicle electronics is one of the important aspects of military electronics that is revolutionizing communications process between all battlefield assets. Led by sustained advancements over the years, vetronics now stand transformed into highly advanced communication and surveillance equipment for the military sector. The growing need to deliver right information to right platforms and right people at the right time in a network-centric battlefield is driving demand for more efficient and capable military vetronics. Demand is particularly strong for ground combat vehicles equipped with a range of communications, command and control solutions and display systems to provide mission critical data to warfighters.

Long-term growth in the market is expected to stem from the sustained increase in defense budgetary allocations, soldier modernization programs of militaries worldwide, network-centric battlefield warfare, and rising significance of situational awareness, and SWaP (size, weight, and power) specifications. Military modernization programs, present significant growth opportunities in the market. The recent years have seen countries such as India, Australia, France and the United States focus on military modernization efforts. Large fleets of aging vehicles, both in developed and developing regions, and growing security concerns are expected to fuel demand for advanced military vetronics. Rising demand for drones and unmanned aerial vehicles is also anticipated to benefit the market.

As stated by the new market research report on Military Vetronics, the United States represents the largest market worldwide, supported by technological advancements and huge defense expenditure. In Europe, growth is driven by the strong investments in military technologies and increased number of counter-terrorism operations launched due to tensions in Russia and Ukraine, and the Middle East. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 4.9% over the analysis period. Increasing security threats, continuous rise in military spending, and the need to replace aging and obsolete military vehicles are driving growth in the region.

Major players covered in the report include BAE Systems plc, Bharat Electronics Limited, Diehl BGT Defence GmbH & Ko KG, Elbit Systems Ltd.. Finmeccanica S.p.A., GE Intelligent Platforms, General Dynamics Corporation. Harris Corporation, Kongsberg Gruppen, Krauss-Maffei Wegmann GmbH & Co. KG, KVH Industries Inc., Lockheed Martin Corporation, Nexter Group, Oshkosh Corporation, Palomar Display Products Inc., Raytheon Company, Rheinmetall AG, Saab AB, and Thales Group.

The research report titled “Military Vetronics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in US$ Million for all major geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.