NORTH AMERICA VETRONICS MARKET 2022-2028

Aerospace & Defense | Defense

NORTH AMERICA VETRONICS MARKET 2022-2028

Market by Land-based Fleet Type, Component, Vertical, and Country Outlook | Forecast 2022-2028

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Triton Market Research highlights that the North America vetronics market is expected to surge at a CAGR of 6.03% during the forecast period from 2022 to 2028.


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The countries scrutinized in this region include:

•         Canada

•         The United States

In North America, the demand for vetronics has increased significantly due to military and government initiatives to modernize its army and fleet. Another element boosting the growth of the region's market is the ongoing upgradation programs of the obsolete platforms. The military budget is expanding, and a large amount is being set aside for purchasing land-based platforms and the technologies adjacent to them, which is considerably fueling the region's vetronics market. However, the expansion of the studied market may be constrained by delays in the awarding of high-budget contracts and awards, as well as production schedules. Further, the stringent rules and restrictions regarding importing and exporting vetronics components can also impede the market's growth.

In United States, military vehicles are now networked, sharing information with ground combatants as well as across platforms and within the same platform. This is due to the reinforcement of new technology the US Army. For instance, the Army announced five separate contracts worth $26.6 million each for the phase-two concept design of the Optionally Manned Fighting Vehicle (OMFV). Modern electronics, machine autonomy for unmanned operation, a 30-millimeter cannon, and a second-generation forward-looking infrared sensor system would all be prioritized by the OMFV. These features let it combat at night, in inclement weather, or in smoke and haze. The Next-Generation Combat Vehicle program, which includes the OMFV, aims to provide a variety of armored vehicles and vetronics to improve Army units' capabilities and replace outmoded platforms.

In Canada, the growing military budget and integration of new technological updates is driving the market growth.  For instance, the Armored Combat Support Vehicle fleet will take the place of the M113 and LAV-II (Bison) fleets (LAV 6.0). It will support heavy and light armored fighting vehicles on the battlefield. The new ACSV might be configured in various ways, including ambulance, power, and maintenance. General Dynamics Land Systems-Canada inked a $2 billion sole-sourced agreement for 360 LAV 6.0 vehicles in August 2019. 

Recent developments in information and armored fighting vehicle (AFV) technology have presented new directions in advancing electronic devices for vehicle control and a new tactical strategy for deploying AFVs on battlefields. Vetronics is becoming crucial to new AFV developments and upgrades to existing vehicles. The studied report assesses the market's growth based on land-based fleet type, component, and vertical. Here, the land-based fleet type includes tanks, armored vehicles, artillery and rocket projectors.

The established players in the vetronics market include Thales Group, Raytheon Technologies, Lockheed Martin Corporation, Curtiss-Wright, and Saab AB.

Thales Group, a French multinational corporation founded in 2000, develops and manufactures electrical equipment and provides services to the aerospace, defense, transportation, and security industries. The business operates in three divisions  aerospace, military and security, and digital identity and security  and offers technology solutions on a global scale. The company offers onboard systems and services, tools, systems, and services, as well as digital identity and security solutions, for clients in the corporate and public sectors.

Key deliverables of the report:

·       Market CAGR during the forecasting years 2022-2028

·       Detailed data highlighting key insights, industry components, and market strategies

·       Comprehensive information and estimation of the vetronics market revenue growth in North America and its influence on the parent market

·       In-depth study of forthcoming trends in consumer behavioral patterns

·       A meticulous analysis of the competitive landscape, vendor scorecard, and Porter's Five Forces Analysis Model

·       A wide-ranging study of factors that will challenge the North America vetronics market's growth during the upcoming years

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Table of Content

1. NORTH AMERICA VETRONICS MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE VETRONICS MARKET

2.2. KEY INSIGHTS

2.2.1. GROWING INVESTMENTS IN HYBRID MILITARY VEHICLES

2.2.2. RISING MILITARY LAND-VEHICLE INVENTORY

2.3. PORTER'S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. INDUSTRY COMPONENTS

2.6.1. COMPONENT PROVIDERS

2.6.2. SYSTEM MANUFACTURERS/OEMs

2.6.3. DISTRIBUTION CHANNELS

2.6.4. END-USERS

2.6.5. AFTERMARKET SERVICES

2.7. KEY MARKET STRATEGY

2.7.1. ACQUISITIONS

2.8. MARKET DRIVERS

2.8.1. OPEN ARCHITECTURE OF VETRONICS SYSTEMS

2.8.2. ONGOING MILITARY MODERNIZATION OF LAND-BASED VEHICLE INVENTORY

2.8.3. ADVANCEMENTS IN BATTLEFIELD TECHNOLOGY

2.9. MARKET CHALLENGES

2.9.1. CUT-OFFS IN DEFENSE BUDGET

2.9.2. RISING COST OF RAW MATERIALS

2.9.3. USABILITY REGULATIONS

2.10. MARKET OPPORTUNITIES

2.10.1. INVESTMENTS IN RESEARCH & DEVELOPMENT

2.10.2. GROWING VETRONICS MARKET IN THE UNITED STATES

3. NORTH AMERICA VETRONICS MARKET OUTLOOK - LAND-BASED FLEET TYPE

3.1. TANKS

3.2. ARMORED VEHICLES

3.3. ARTILLERY

3.4. ROCKET PROJECTORS

4. NORTH AMERICA VETRONICS MARKET OUTLOOK - BY COMPONENT

4.1. ELECTRONIC WARFARE & C4 SYSTEMS

4.2. NAVIGATION SYSTEMS

4.3. POWER SYSTEMS

4.4. VEHICLE PROTECTION SYSTEMS

5. NORTH AMERICA VETRONICS MARKET OUTLOOK - BY VERTICAL

5.1. DEFENSE

5.2. HOMELAND SECURITY

6. NORTH AMERICA VETRONICS MARKET – COUNTRY OUTLOOK

6.1. UNITED STATES

6.2. CANADA

7. COMPETITIVE LANDSCAPE

7.1. CURTISS-WRIGHT

7.2. BAE SYSTEMS

7.3. THALES GROUP

7.4. GENERAL DYNAMICS CORPORATION

7.5. LOCKHEED MARTIN CORPORATION

7.6. RHEINMETALL AG

7.7. RAYTHEON TECHNOLOGIES

7.8. L3HARRIS TECHNOLOGIES

7.9. SAAB AB

7.10. LEONARDO S.P.A

8. RESEARCH METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: LIST OF ACQUISITIONS

TABLE 4: NORTH AMERICA VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $ MILLION)

TABLE 5: NORTH AMERICA VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)

TABLE 6: NORTH AMERICA VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)

TABLE 7: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: NORTH AMERICA VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2021 & 2028 (IN %)

FIGURE 3: NORTH AMERICA VETRONICS MARKET, BY TANKS, 2022-2028 (IN $ MILLION)

FIGURE 4: NORTH AMERICA VETRONICS MARKET, BY ARMORED VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 5: NORTH AMERICA VETRONICS MARKET, BY ARTILLERY, 2022-2028 (IN $ MILLION)

FIGURE 6: NORTH AMERICA VETRONICS MARKET, BY ROCKET PROJECTORS, 2022-2028 (IN $ MILLION)

FIGURE 7: NORTH AMERICA VETRONICS MARKET, BY COMPONENT, 2021 & 2028 (IN %)

FIGURE 8: NORTH AMERICA VETRONICS MARKET, BY ELECTRONIC WARFARE & C4 SYSTEMS, 2022-2028 (IN $ MILLION)

FIGURE 9: NORTH AMERICA VETRONICS MARKET, BY NAVIGATION SYSTEMS, 2022-2028 (IN $ MILLION)

FIGURE 10: NORTH AMERICA VETRONICS MARKET, BY POWER SYSTEMS, 2022-2028 (IN $ MILLION)

FIGURE 11: NORTH AMERICA VETRONICS MARKET, BY VEHICLE PROTECTION SYSTEMS, 2022-2028 (IN $ MILLION)

FIGURE 12: NORTH AMERICA VETRONICS MARKET, BY VERTICAL, 2021 & 2028 (IN %)

FIGURE 13: NORTH AMERICA VETRONICS MARKET, BY DEFENSE, 2022-2028 (IN $ MILLION)

FIGURE 14: NORTH AMERICA VETRONICS MARKET, BY HOMELAND SECURITY, 2022-2028 (IN $ MILLION)

FIGURE 15: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 16: UNITED STATES VETRONICS MARKET 2022-2028 (IN $ MILLION)

FIGURE 17: CANADA VETRONICS MARKET 2022-2028 (IN $ MILLION)

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