Global Vetronics Market was valued US$ 3.02 Bn in 2017 and is expected to reach US$ 4.33 Bn by 2026, at a CAGR of 4.61% during a forecast period.Global Vetronics Market by ApplicationVetronics 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 the 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, lack of skilled professionals and rising power issues are some of the challenges for the market.

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.

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 this region.
Some of the key players in the global vetronics market are Curtiss Wright Corporation, Raytheon Company, SAAB Group, Lockheed Martin Corporation, General Dynamics Corporation, Thales Group, Leonardo-Finmeccanica SPA, Elbit Systems, Harris Corporation, BAE Systems, and Rheinmetall AG.
Scope of the Global Vetronics Market

Global Vetronics Market by Subsystem

• Communication
• Navigation
• C3 Systems
• Power Systems
Global Vetronics Market by Application

• Defense
• Homeland Security
Global Vetronics Market by Vehicle Type

• Main Battle Tank
• Light Protected Vehicle
• Amphibious Armored Vehicle
Global Vetronics Market by Geography

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Vetronics Market

• Curtiss Wright Corporation
• Raytheon Company
• SAAB Group
• Lockheed Martin Corporation
• General Dynamics Corporation
• Thales Group
• Leonardo-Finmeccanica SPA
• Elbit Systems
• Harris Corporation
• BAE Systems
• Rheinmetall AG


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