Vetronics Market – Global Industry Analysis and Forecast (2023-2029)

Vetronics Market was valued at US$ 3.45 Bn in 2022 and is expected to reach US$ 4.73 Bn by 2029, at a CAGR of 4.61% during a forecast period.

The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.To know about the Research Methodology :- Request Free Sample Report
Vetronics Market Dynamics
Vetronics enables an exchange of inter-vehicular and intra-vehicular information among the vehicles. This electronics is mostly used in the military environment and rises overall warfare capabilities.

The key factors increasing the growth of the vetronics market consist of easy availability of cost-effective components, improved demand for enhanced vetronics, the emergence of wireless communication technology, and domestic capability. Additionally, network-centric warfare, technological advancements in vehicle electronics, and situational alertness are boosting the global vetronics market. Defense offset policies and regulations & budget cuts are estimated to the restraining factors for the vetronics market. Moreover, the lack of skilled professionals and rising power issues are some of the challenges for the market.
Vetronics Market Segment Analysis
The defense segment is expected to lead the vetronics market due to the increasing defense expenditure around the world.
C3 systems segment of the market is estimated to grow in the market at a higher rate owing to an increase in the need for lightweight and technologically advanced vetronics systems. The demand for C3 systems is highest in North America and Europe, owing to growth in demand for military land vehicles systems with next-generation vetronics systems.
Vetronics Market Regional Insights
Asia Pacific is projected to grow at the highest CAGR during the forecast period owing to an increase in the need for technologically enhanced military land vehicles in the emerging economies. Moreover, the rise in defense spending by emerging countries is the factor fueling the growth of the market in the region.
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Vetronics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.45 Bn.


Forecast Period 2023 to 2029 CAGR:
4.61%
Market Size in 2029:
US $ 4.73 Bn.


 Segments Covered:
by Subsystem
Communication
Navigation
C3 Systems
Power Systems


by Platform
Homeland Security
Military


by Application
Defense
Homeland Security


by Vehicle Type
Main Battle Tank
Light Protected Vehicle
Amphibious Armored Vehicle



Vetronics Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Vetronics Market Key Players are:
1. Curtiss Wright Corporation
2. Raytheon Company
3. SAAB Group
4. Lockheed Martin Corporation
5. General Dynamics Corporation
6. Kongsberg Gruppen ASA.
7. Oshkosh Corporation
8. TE Connectivity
9. Moog
10.Thales group
11.Leonardo-Finmeccanica SPA
12.Elbit Systems
13.Harris Corporation
14.BAE Systems
15.Rheinmetall AG
Frequently Asked questions
1. What is the market size of the Global Vetronics Market in 2022?
Ans. The market size Global Vetronics Market in 2022 was US$ 3.45 Billion.

2. What are the different segments of the Global Vetronics Market?
Ans. The Global Vetronics Market  is divided into Subsystem, Platform,Application and Vehicle Type.

3. What is the study period of this market?
Ans. The Global Vetronics Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Vetronics Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Vetronics Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.