Product Code: PM3212
The global military vetronics market size is expected to reach USD 7.12 billion by 2032, according to a new study by polaris Market Research. The report "Military Vetronics Market Share, Size, Trends, Industry Analysis Report, By Platform (Homeland Security, and Military); By Vehicle Type; By System; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into the current market dynamics and provides an analysis of future market growth.
Combination of web 4.0 technology and military avionics systems indicates enormous economic potential for the growth of the sector. Symbiotic web systems that are autonomous, collaborative, proactive, analytic, and data-driven, with reasoning and learning capabilities through artificial intelligence (AI), connected with central processing centers via the cloud, offer many opportunities for corporate growth. For instance, in July 2021, The American army and BAE Systems have a contract for 72.5 million dollars worth of digital vetronics for artillery armored combat vehicles.
M109A7 armored fighting vehicle will be upgraded with a contemporary power system and digital vetronics. The Tully networked and integrated electronics system, which promises to connect automobiles, aerial vehicles, and other support vehicles to one network, is gaining market share. These systems reduce lead times, boost operational efficiency, and allow smooth data flow between platforms.
Combat demands adaptable forces that can move quickly and precisely. To take advantage of the information advantage, the modern military is concentrating on implementing cutting-edge network technologies. By connecting sensors, commanders, and shooters in a full networking environment, militaries from various nations are upgrading their arsenal to improve situational awareness, speed decision-making, and maximize mission effectiveness.
Additionally, the army's adoption of several military vehicles, including amphibious vehicles, unmanned ground vehicles, infantry combat vehicles, and mine-resistant ambush protection vehicles, will aid in the market's expansion. For instance in March 2021, to create a hybrid architecture, the USAF spoke with business satellite operators. Armed forces will be able to switch networks between commercial and military satellites owing to this design, boosting connectivity and lessening the likelihood of cyberattacks. These vehicles need precise navigation systems, enabling the army to conduct operations with accuracy. Therefore, the market is growing rapidly as demand for the products is increased across various verticals.
Military Vetronics Market Report Highlights
- The weapon and control system segment is anticipated to grow at a high CAGR over the forecast period because the demand for battle tanks to act as the first line of defense and engage in combat in urgent scenarios will support market expansion..
- Armored Personnel dominated the global market globally, due to the advent of hybrid vehicles and the integration of unmanned vehicles into military fleets.
- Asia Pacific is expected to grow at high CAGR owing to attain strategic territorial mobility and effective firepower against the enemy, India is restructuring its motorized infantry.
- The global players include: BAE Systems, Curtiss-Wright Corporation, General Dynamics, Harris Corporation, Kongsberg Gruppen, Leonardo-Finmeccanica, & Lockheed Martin
Polaris Market Research has segmented the Military Vetronics Market report based on platform, vehicle type, system, and region:
Military Vetronics Market, Platform Outlook (Revenue - USD Billion, 2019 - 2032)
- Homeland Security
- Military
Military Vetronics Market, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Main Battle Tank
- Light Combat Vehicles
- Armored Personnel
- Carriers
- Infantry Fighting Vehicle
- Others
Military Vetronics Market, System Outlook (Revenue - USD Billion, 2019 - 2032)
- Weapon and Control System
- Command and Communication
- Navigation and Display
- Sensor and Optronics
- Power System
- Others
Military Vetronics Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Military Vetronics Market Insights
- 4.1. Military Vetronics Market - System Snapshot
- 4.2. Military Vetronics Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing R&D activities
- 4.2.1.2. Rising government spending on defense
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Delayed deliveries
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Military Vetronics Market System Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Military Vetronics Market, by Platform
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 5.3. Homeland Security
- 5.3.1. Global Military Vetronics Market, by Homeland Security, by Region, 2019-2032 (USD Billion)
- 5.4. Military
- 5.4.1. Global Military Vetronics Market, by Military, by Region, 2019-2032 (USD Billion)
6. Global Military Vetronics Market, by Vehicle Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 6.3. Main Battle Tank
- 6.3.1. Global Military Vetronics Market, by Main Battle Tank, by Region, 2019-2032 (USD Billion)
- 6.4. Light Combat Vehicles
- 6.4.1. Global Military Vetronics Market, by Light Combat Vehicles, by Region, 2019-2032 (USD Billion)
- 6.5. Armored Personnel
- 6.5.1. Global Military Vetronics Market, by Armored Personnel, by Region, 2019-2032 (USD Billion)
- 6.6. Carriers
- 6.6.1. Global Military Vetronics Market, by Carriers, by Region, 2019-2032 (USD Billion)
- 6.7. Infantry Fighting Vehicle
- 6.7.1. Global Military Vetronics Market, by Infantry Fighting Vehicle, by Region, 2019-2032 (USD Billion)
- 6.8. Others
- 6.8.1. Global Military Vetronics Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Military Vetronics Market, by System
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 7.3. Weapon and Control System
- 7.3.1. Global Military Vetronics Market, by Weapon and Control System, By Region, 2019-2032 (USD Billion)
- 7.4. Command and Communication
- 7.4.1. Global Military Vetronics Market, by Command and Communication, By Region, 2019-2032 (USD Billion)
- 7.5. Navigation and Display
- 7.5.1. Global Military Vetronics Market, by Navigation and Display, By Region, 2019-2032 (USD Billion)
- 7.6. Sensor
- 7.6.1. Global Military Vetronics Market, by Sensor, By Region, 2019-2032 (USD Billion)
- 7.7. Optronics
- 7.7.1. Global Military Vetronics Market, by Optronics, By Region, 2019-2032 (USD Billion)
- 7.8. Power System
- 7.8.1. Global Military Vetronics Market, by Power System, By Region, 2019-2032 (USD Billion)
- 7.9. Others
- 7.9.1. Global Military Vetronics Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Military Vetronics Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Military Vetronics Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Military Vetronics Market - North America
- 8.3.1. North America: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.3.2. North America: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.3.3. North America: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.3.4. Military Vetronics Market - U.S.
- 8.3.4.1. U.S.: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.3.5. Military Vetronics Market - Canada
- 8.3.5.1. Canada: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4. Military Vetronics Market - Europe
- 8.4.1. Europe: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.3. Europe: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.4. Military Vetronics Market - UK
- 8.4.4.1. UK: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.5. Military Vetronics Market - France
- 8.4.5.1. France: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.5.3. France: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.6. Military Vetronics Market - Germany
- 8.4.6.1. Germany: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.7. Military Vetronics Market - Italy
- 8.4.7.1. Italy: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.8. Military Vetronics Market - Spain
- 8.4.8.1. Spain: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.9. Military Vetronics Market - Netherlands
- 8.4.9.1. Netherlands: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.4.10. Military Vetronics Market - Russia
- 8.4.10.1. Russia: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5. Military Vetronics Market - Asia Pacific
- 8.5.1. Asia Pacific: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.4. Military Vetronics Market - China
- 8.5.4.1. China: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.4.3. China: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.5. Military Vetronics Market - India
- 8.5.5.1. India: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.5.3. India: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.6. Military Vetronics Market - Malaysia
- 8.5.6.1. Malaysia: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.7. Military Vetronics Market - Japan
- 8.5.7.1. Japan: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.8. Military Vetronics Market - Indonesia
- 8.5.8.1. Indonesia: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.5.9. Military Vetronics Market - South Korea
- 8.5.9.1. South Korea: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.6. Military Vetronics Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.6.4. Military Vetronics Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.6.5. Military Vetronics Market - UAE
- 8.6.5.1. UAE: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.6.6. Military Vetronics Market - Israel
- 8.6.6.1. Israel: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.6.7. Military Vetronics Market - South Africa
- 8.6.7.1. South Africa: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.7. Military Vetronics Market - Latin America
- 8.7.1. Latin America: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.7.4. Military Vetronics Market - Mexico
- 8.7.4.1. Mexico: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.7.5. Military Vetronics Market - Brazil
- 8.7.5.1. Brazil: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
- 8.7.6. Military Vetronics Market - Argentina
- 8.7.6.1. Argentina: Military Vetronics Market, by Platform, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Military Vetronics Market, by System, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Military Vetronics Market, by Vehicle Type, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. BAE Systems
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Curtiss-Wright Corporation
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. General Dynamics
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Harris Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Kongsberg Gruppen
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Leonardo-Finmeccanica
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Lockheed Martin Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. L3Harris Technologies
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Oshkosh Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Raytheon Company
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Rheinmetall
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Saab Group
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Thales Group
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development