Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Military Vetronics Market Outlook

The global military vetronics market size reached a value of approximately USD 4.73 billion in 2023. The market is expected to grow at a CAGR of 4.5% between 2024 and 2032, reaching a value of around USD 7.04 billion by 2032.

Key Trends in the Market

Vetronics is a combination of ‘vehicle’ and ‘electronics’, and refers to the communications and electronics installed on a vehicle. Military vetronics feature advanced electronics systems that aid in tasks such as communication, navigation, and power. These systems can integrated with various types of vehicles, including light-protected vehicles, battle tanks, special purpose vehicles, and amphibious vehicles.

Global Military Vetronics Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

  • Increasing government investments towards defence, particularly in emerging nations, is resulting in a heightened demand for military vetronics. Technological advancements and availability of affordable systems are further propelling the global military vetronics market expansion.
  • Military modernisation efforts by nations worldwide are focusing on ways to improve military capabilities in an effective manner while controlling costs. Vetronics systems aid in greater situational awareness which is anticipated to increase their demand.
  • Rising tank production and procurement is one of the key factors propelling the global military vetronics market. In larger military vehicles, vetronics are essential for easy management and to execute intelligence, surveillance, and reconnaissance operations.

Market Analysis

Based on product, the market is divided into communication and navigation system, power system, display system, and C4 system, among others. By platform, the market is segmented into unmanned ground vehicles, main battle tanks and other armoured vehicles, light protected vehicles, special purpose vehicles, and amphibious vehicles, among others. On the basis of application, the market is bifurcated into OEM and aftermarket. Based on end-use, the market is segmented into defence and homeland security. The regional markets for military vetronics are divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Global Military Vetronics Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global military vetronics market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

  • Saab AB
  • Curtiss-Wright Corporation
  • Thales Group  
  • Elbit Systems Ltd.
  • General Dynamics Corporation
  • Others

Market Share by Platform

The main battle tanks and other armoured vehicles segment, by platform, occupied a sizable share of the global market for military vetronics during the historical period. This can be attributed to the increasing purchases of battle tanks and other armoured vehicles by nations across the world with the aim of bolstering their military capability.

Meanwhile, unmanned ground vehicles, by platform, are anticipated to witness rapid growth in the military vetronics market, supported by the development of advanced technologies like artificial intelligence, robotics, and others that improve the operational effectiveness of these vehicles. As unmanned ground vehicles operate without human drivers, there is a greater dependence upon military vetronics to control the movement and operations of the vehicle.

Global Military Vetronics Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by End-Use

The defence segment accounts for a significant share of the military vetronics market by end-use, driven by rising defence budgets and availability of vehicle-specific military vetronics systems. More governments are investing in equipping military vehicles with technologically sophisticated electronic systems in order to boost the operational effectiveness of the vehicles. There is an increased demand for military vetronics such as novel sighting devices, infrared cameras, and thermal imaging systems. Technological advancements such as the development of smaller, lighter, and more power-efficient (SWaP) rugged systems and embedded technology are anticipated to further propel the defence end-uses of military vetronics.

Competitive Landscape

Saab AB, headquartered in Stockholm, Sweden, is a leading military and security company which operates in the aerospace, aviation, and defence industries. Founded in 1937, the company develops, produces, and supports cutting-edge technologies for aviation, weaponry, command and control, sensors, and underwater systems.

Thales Group, founded in 2000 and headquartered in Paris, France, is a pioneer in global technology, specialising in big data, artificial intelligence (AI), cybersecurity, connectivity, and quantum technology. The company offers satellites, payloads, equipment, systems, and services for communications, navigation, Earth observation, and space exploration.

Elbit Systems Ltd., headquartered in Haifa, Israel, and founded in 1966, is a global leader in high technology involved in numerous defence, homeland security, and commercial programmes. The company offers expertise in unmanned aircraft systems, command, control, computing, and communications (C4ISR), and aerospace, land, and naval systems.

Other market players include Curtiss-Wright Corporation, and General Dynamics Corporation, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Platform
  • Application
  • End-Use
  • Region
Breakup by Product
  • Communication and Navigation System
  • Power System
  • Display System
  • C4 System
  • Others
Breakup by Platform
  • Unmanned Ground Vehicles
  • Main Battle Tanks and Other Armoured Vehicles
  • Light Protected Vehicles
  • Special Purpose Vehicles
  • Amphibious Vehicles
  • Others
Breakup by Application
  • OEM
  • Aftermarket
Breakup by End-Use
  • Defence
  • Homeland Security
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Saab AB
  • Curtiss-Wright Corporation
  • Thales Group
  • Elbit Systems Ltd.
  • General Dynamics Corporation
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

In 2023, the global market for military vetronics attained a value of approximately USD 4.73 billion.

The market is projected to grow at a CAGR of 4.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching USD 7.04 billion by 2032.

The major drivers of the market include the increase in defence expenditure, military modernisation efforts of various nations, and availability of cost-effective military vetronics systems.

Rising demand for specialised military vetronics systems, increasing prevalence of asymmetric and network-centric warfare, and growing need for increased situational awareness, are the key trends propelling the growth of the market.

The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The major products in the market for military vetronics are communication and navigation system, power system, display system, and C4 system, among others.

The major players in the military vetronics market,according to the report, are Saab AB, Curtiss-Wright Corporation, Thales Group, Elbit Systems Ltd., and General Dynamics Corporation, among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124