Global Vetronics Market – Global Industry Analysis and Forecast (2019-2026)

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Global Vetronics Market was valued at US$ 3.02 Bn in 2019 and is expected to reach US$ 4.33 Bn by 2026, 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.

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Global 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.
Global 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.
Global 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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Scope of the Global Vetronics Market :Inquire before buying

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
Global Vetronics Market Key Players

• Curtiss Wright Corporation
• Raytheon Company
• SAAB Group
• Lockheed Martin Corporation
• General Dynamics Corporation
• Kongsberg Gruppen ASA.
• Oshkosh Corporation
• TE Connectivity
• Moog
• Thales group
• Leonardo-Finmeccanica SPA
• Elbit Systems
• Harris Corporation
• BAE Systems
• Rheinmetall AG

 

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