According to the latest report by IMARC Group, titled “Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global vetronics market size exhibited moderate growth during 2015-2020. Vetronics, or vehicle electronics, is the collection of various electronic subsystems of a vehicle that include multiple components ranging from chips and boards to displays and power electronics. Nowadays, vetronics are integrated into battle tanks and light-protected, armored and infantry fighting vehicles to ensure an optimal combination of lightweight and efficient power use for reliable performance.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Market Trends:

The vetronics market is primarily driven by the extensive growth in the automotive industry over the years. With the rising geopolitical unrest and cross-border security issues, there has also been widespread adoption of vetronics by military and defense units to integrate systems such as communication, command, navigation, surveillance and vehicle health management. Apart from this, the introduction of wireless communication technology and modernization of military vehicles due to technological advancements have increased the demand for vetronics. Market players are also continuously investing in research and development (R&D) activities to develop innovative products and improve the efficiency of the existing systems. For instance, the development of unmanned vehicles (UMV) and drones that are used for various commercial applications, such as capturing images and videos of sporting events and cityscapes, will bolster the global vetronics market to grow at a CAGR of 4.1% during 2021-2026.

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Key Market Segmentation:

Some of the top key players in the market: 

1. BAE Systems PLC
2. Curtiss-Wright Corporation
3. General Dynamics Corporation
4. Harris Corporation
5. Leonardo-Finmeccanica S.P.A
6. Lockheed Martin Corporation
7. Raytheon Company
8. Rheinmetall AG
9. Saab Group
10. Thales Group, etc.

Breakup by Application:

1. Defense
2. Homeland Security

Breakup by Vehicle Type:

1. Main Battle Tanks
2. Light Protected Vehicles
3. Amphibious Armoured Vehicles
4. Mine Resistant Ambush Protected (MRAP) Vehicles
5. Infantry Fighting Vehicles
6. Armored Personnel Carriers
7. Others

Breakup by Subsystem:

1. Navigation Systems
2. Observation and Display Systems
3. C3 Systems
4. Weapon Control Systems
5. Sensor and Control Systems
6. Vehicle Protection Systems
7. Power Systems
8. Others

Breakup by Fit:

1. Line-Fit
2. Retrofit

Breakup by Region:

1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America

Key Highlights of the Report:

1. Market Performance (2015-2020)
2. Market Outlook (2021- 2026)
3. Porter’s Five Forces Analysis
4. Market Drivers and Success Factors
5. SWOT Analysis
6. Value Chain
7. Comprehensive Mapping of the Competitive Landscape

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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1. Vetronics Market
2. Vetronics Market share
3. Vetronics Market Size