Military Vetronics Market to be worth US$ 4744.39 Million by 2022 know about Trends, Drivers, Strategies, Segmentation, Technology
This Research Provides an in-depth analysis of Global Military Vetronics Market By 2022. The Research profiles companies like Curtiss Wright Corporation, Thales Group, SAAB A.B., BAE Systems PLC, Elbit Systems Ltd, General Electric Company, Lockheed Martin Corporation, The Raytheon Company and Kongsberg Gruppen ASA.
Pune, India – June 19, 2018 /MarketersMedia/ —
Absolute Markets Insights offers its latest published report “Military Vetronics Market” -Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 – 2026’. The author of the report analyzed that the global military vetronics market accounted for US$ 3,871.92 Mn in 2017. The changing global scenario in terms of military and national security has increased government investment towards
military vetronics thereby fueling the market growth.
Two ways that operators of military vetronics can access the business are to integrate the system into the new vehicle and retrofit the system to the previous vehicle. Most of the world’s defense agencies have a large number of older vehicles with major opportunities for the use of modern and more robust vetronics systems. In addition, major companies have focused on high demand for embedded technology by implementing advanced SWAP specifications on the latest vehicles. Another driver that vetronics players can see is the growing demand for real-time data tools in the defense industry.
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The constant working of defense to provide modern vehicles to the armed force is accelerating the market. The modern vehicles help to improve surveillance, easy navigation, better intra and inter vehicle communication with adoption of new and advanced technology which is further fueling the market growth. The government of developed countries are thinking to reduce the defense budget in the coming years, which is anticipated to hamper the growth. However, continuous modernization of military vehicles in developing countries is expected to propel the growth of military vetronics market in the coming years.
Armored Amphibious Vehicles Application Segment is Holding the Maximum Market Share during the Forecast Period
Armored amphibious vehicles application is currently dominating the market due to its extensive usage in land as well sea. This vehicle is highly used for surveillance & rescue mission, water transportation and personnel carrier. However, speedy deployment of armed forces during onshore and offshore operations has also further accelerated the growth.
Asia Pacific is Anticipated to Have a Significant Share in the Forecast Period.
Asia Pacific is considered as the most attractive market in the forecast period. This is due to growing security tension among Asian countries. The market in Asia Pacific, is anticipated to grow significantly due to high progress rate over the next few years on the grounds of rising terrorist activities. Countries like India, Pakistan, South Korea, North Korea, China and Japan are getting involved in various agreement and collaborative work in terms of military vetronics. Thus, further accelerating the military vetronics market. In June, 2017 it was announced that China is building the world’s fastest amphibious fighting vehicle. The North China Institute of Vehicle Research has built a 4X4 armored fighting vehicle (AFV) that can reach a top speed of 31 miles per hour when traveling in calm waters. That speed would make the amphibious AFV the fastest amphibious military vehicle in the world.
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Military Vetronics Market is Consolidated in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in the market include Curtiss Wright Corporation, Thales Group, SAAB A.B., BAE Systems PLC, Elbit Systems Ltd, General Electric Company, Lockheed Martin Corporation, General Dynamics Corporation, Ultra Electronics Ltd, The Raytheon Company and Kongsberg Gruppen ASA.
On March 8, 2018, the Lockheed Martin has announced a new joint venture to pursue the next generation Integrated Air and Missile Defense System, “TLVS,” for the German Bundeswehr. This joint venture will strengthen their position in integrated air and missile defense system and thereby strengthen their market position.
Military Vetronics Market – By Product:
Communication System, Navigation System, C4 System, Power System, Display System, Control and Data Distribution System, Other
Military Vetronics Market – By Application:
Light Protected Vehicles, Unmanned Ground Vehicles, Armored Amphibious Vehicles, Special Purpose Vehicles
By Region
North America,U.S.,Rest of North America,Europe,France, The UK, Spain, Germany, Italy, Rest of Europe, Asia Pacific, China, Japan, India, Southeast Asia, Rest of Asia Pacific, Middle East & Africa, GCC Countries, Southern Africa, Rest of MEA, Latin America, Brazil, Rest of Latin America
Purchase the complete report titled “Military Vetronics Market – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 – 2026” at https://www.absolutemarketsinsights.com/reports/Military-Vetronics-Market-2018-2026-67
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