Market by Land-based Fleet Type, Component, Vertical, and Country Outlook | Forecast 2022-2028
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
Want
to get specific insights? Our team of analysts can customize this report based
on your preferences. Connect with us here.
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VIEW REPORT1. 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
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)
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)