Global Military Vetronics Market Analysis, Size, Share, Growth, Trends and Forecast (2017-2026) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 23, 2018--The “Military Vetronics Market by Product; for Application - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026” report has been added to ResearchAndMarkets.com’s offering.
The global military vetronics market was valued at around USD 3,870 million in the year 2017 and it is expected to reach approximately USD 5,650 million by 2026. The global military vetronics market is expected to exhibit a CAGR of more than 4% between 2018 and 2026.
The major factor driving the growth of global military vetronics market is the increasing demand for unmanned vehicles drones. The unmanned vehicles and drones are equipped with the sophisticated technologies for capturing images of foliage, sporting events, and cityscapes. The rise in the number of secret military operations has increased the demand for vetronics in military.
The growing technological advancement in the military vetronics such as HD video calling, advanced threat detection sensors, high bandwidth networking, portable power system, and advanced batteries are expected to contribute significantly to the growth of military vetronics market globally.
The increasing modernization of military vetronics is expected to generate significant opportunities for the military vetronics market in the near future. The modern vehicles help in improving surveillance, easy navigation, better intra- and inter-vehicle communication with the adoption of new and advanced technology.
However, decreasing defense budget in developed countries may affect the growth of military vetronics market.
The power system segment in the global military vetronics market is estimated to register the highest CAGR of 4.6% from 2018 to 2026. The high demand for a un-uninterruptable power supply with high battery back up in military vetronics is expected to propel the growth of the segment in the global market over the forecast period. Moreover, the demand for innovative high-energy light-weight lithium batteries is growing. The control and data distribution vetronics system accounted for more than 18% revenue share in the global military vetronics market in 2017.
The light protected vehicles, unmanned ground vehicles, armored amphibious vehicles, and special purpose vehicles are the major applications of military vetronics. The light protected vehicles segment is expected to grow at highest CAGR of more than 4.5% from 2018 to 2026. The light protected vehicles are designed to be defensive from ballistic weaponry and blasting. The vehicle has the ability to include the future system necessities of adaptive campaigning with C4I (command, control, communications, computers, and intelligence) capabilities and they can be upgraded for specific missions thus increasing its popularity.
The unmanned ground vehicles segment was valued at around USD 745 million in 2017 in the global military vetronics market during the forecast period. The increasing security concerns among the nations are increasing the demand for the unmanned ground vehicles globally thus contributing to the growth of the segment.
North America has registered the dominant position in the military vetronics market. Advancements in the defense sector and increasing security concerns contribute to the growth of the military vetronics market in the region. The U.S. contributed the topmost shares in the North America military vetronics market. The military expenditure of the U.S. in 2016 was USD 611 billion which was highest among all the countries. The market is anticipated to grow at a rapid CAGR in the Asia Pacific especially in countries such as China, India, and South Korea.Market Dynamics Drivers Increasing Demand for Unmanned Vehicle DroneGrowing Technological Advancement in Military Vetronics Restraints Decreasing Defense Budget in Developed Countries Opportunities Increasing Modernization of Military Vetronics
Key Topics Covered
2. Executive Summary
3. Military Vetronics - Market Dynamics
4. Global Military Vetronics Market - Competitive Landscape
5. Global Military Vetronics Market - Product Segment Analysis
6. Global Military Vetronics Market - Application Segment Analysis
7. Global Military Vetronics Market - Regional Segment Analysis
8. Company ProfilesKongsberg GruppenCurtiss-Wright CorporationBAE Systems PLCThales S.A.Ultra Electronics Holdings plcGeneral Dynamics CorporationRaytheon CompanySAAB ABGeneral Electric CompanyAssaAbloy ABLockheed Martin CorporationOshkosh Corporation
For more information about this report visit https://www.researchandmarkets.com/research/m7qp7c/global_military?w=4
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Related Topics:Tanks and Armored Vehicles
INDUSTRY KEYWORD: AUTOMOTIVE DEFENSE OTHER AUTOMOTIVE OTHER DEFENSE
SOURCE: Research and Markets
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PUB: 11/23/2018 07:27 AM/DISC: 11/23/2018 07:27 AM