Market by Land-based Fleet Type, Component, Vertical, and Regional Outlook | Forecast 2022-2028
High levels of
electronic capability are necessary for both onboard processing and off-board
command and control on the current battlefield. Combat vehicles are
increasingly equipped with more technological systems at a geometric rate.
Advanced sensor technologies, powerful processing, greater connectivity, and
systems interoperability (VICTORY) are more necessary than ever. A
government-industry partnership created VICTORY, a set of open standards, to
address the issues brought on by the bolt-on method. This is due to battlefield
demands and operational circumstances. Integrating these advanced sensors with
communications places a large bandwidth and power demand on the vehicle
infrastructure.
According to Triton Market Research's report, the Global Vetronics Market is expected to progress at a CAGR of 5.62% during the forecast period 2022-2028. The market was valued at $3668.33 million in 2021 and is expected to reach $5372.01 million by 2028.
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MARKET PERFORMANCE: DRIVERS, CHALLENGES, AND TRENDS
Over
the forecast period, the studied market's expansion is likely to be fueled by the
open architecture of vetronics systems, ongoing military modernization of
land-based vehicle inventory, and advancements in battlefield technology.
Quickly recognizing dangers in chaotic settings are necessary for the
complicated future battlefield. Threats must then be accurately and decisively
reduced using lethal force or other countermeasures. Identification and
mitigation of the complete spectrum of threats depend on integrating and
synchronizing high bandwidth sensor capabilities into military vehicles. The
successful integration of situational awareness while moving and active
protection systems in military vehicles are made possible by advancements in
high-density electronics. Real-time processing and merging of high bandwidth
sensor data in the temporal and spatial domains are necessary for situational
comprehension and active defense systems. An advanced electronic architecture
with high-performance embedded computing interacting across high bandwidth
backplanes and networks is the primary enabler for integrating these
cutting-edge combat functions in military vehicles. Thus, such advancements in
cutting-edge and high-performance technology are expected to spur the market
growth.
However,
the market must overcome significant obstacles like a cut-off in the defense
budget, the rising cost of raw materials, and usability regulations.
Due to rising demand, the cost of raw materials used to manufacture electrical
components for military vehicles has surged dramatically over the past
several years. As a result, it is anticipated that the manufacturers and
producers of electronic components and the vetronics market would therefore
look for alternative technologies and materials to meet the requirements of the
upcoming contracts and procurement programs approved by military officials of
various countries. The supply chain is challenging because these components are
from sensitive areas. Therefore, the absence of a supply chain and the
resulting rise in the price of electronic components could impact the growth of
the vetronics market.
Additionally, the growth of the vetronics market in Asia-Pacific, growing investments in a hybrid electric vehicles, and rising military land-vehicle inventory present an overall positive outlook for the market. All areas have seen an increase in land-based vehicles due to continuing military modernization initiatives within their respective forces. The nation's defense ministry purchases vehicles to be equipped with the most modern technology for conflicts in the future, which also fuels the expansion of the vetronics market.
KEY GEOGRAPHIES COVERED:
•         North America: United States and Canada
•         Europe:
United Kingdom, France, Germany, Spain, Italy, Poland, Greece, and Rest of
Europe
•         Asia-Pacific:
Taiwan, China, Thailand, India, Japan, South Korea, Vietnam, and Rest of
Asia-Pacific
•         Latin America: Mexico, Argentina, Brazil, Venezuela, and Rest of Latin America
•         Middle East and Africa: Turkey, Iran, Egypt, Saudi Arabia, Israel, Algeria, Morocco,
and Rest of Middle East & Africa
SEGMENTATION ANALYSIS - VETRONICS MARKET:
•        Market by Land-Based Fleet Type:
o       Tanks
o       Armored
Vehicles
o       Artillery
o       Rocket
Projectors
•        Market by Component:
o       Electronic
Warfare & C4 Systems
o       Navigation
Systems
o       Power
Systems
o       Vehicle
Protection Systems
Navigation
Systems leads the component segment in terms of revenue. Military
vehicles are equipped with military-grade navigation systems for land
navigation in unmarked terrains. It moves along the route shown by numerous
points on different military maps. The advanced land navigation technology (ALNS)
system instructs the officer and the operator by continuously updating the
vehicle's current position and heading to the destination. The ALNS can operate
in one of three modes, including GPS, hybrid, and inertial, depending on the
situation.
•        Market by Vertical:
o       Defense
o       Homeland
Security
Homeland
Security leads the vertical segment in terms of revenue. Larger
companies are producing a range of electric vehicles for the military, homeland
security, and law enforcement. In the process of equipping homeland security
vehicles with the necessary vetronics, BAE Systems has distinguished itself as
a key player with its heavy duty hybrid electric powertrains. For usage by the
military and police, Nissan, Fiat, and other popular SUVs and vehicles are also
adapted.
COMPETITIVE
LANDSCAPE
The competitive
landscape helps dive into data about the key players in the vetronics market.
The strategic initiatives for each of the companies considered have been
covered in detail.
Acquisition
(April 2019) - Thales Group Acquired Gemalto
With the purchase of
Gemalto by Thales for €4.8 billion, a new level of organization and a leading
position in digital identity and security was created in the market for Thales
Group.
Acquisition
(July 2022) - Safran Aerosystems Arresting Company (SAA) to be Acquired by
Curtiss-Wright
Curtiss-Wright
Corporation announced on July 5, 2022, that it had successfully acquired SAA
for $240 million in cash. The purchase of the Safran arresting systems division
solidifies Curtiss-position Wright's as a preeminent global provider of
recovery and arresting systems for fixed-wing aircraft. The company will be a
part of Curtiss-Naval Wright's & Power division.
Key Benefits of the Report:
·      Triton Market Research has a collective experience of 25-30 years in the industry, with its analysts and experts encompassing the most infallible research methodology for its market intelligence and industry analysis.
·      Our research methodology helps in achieving a broader consensus of the market size, shape, and industry trends within each industry segment.
·      The strategy adopted in designing the research methodology includes the amalgamation of the information assembled from primary and secondary sources, with the assistance of analytical tools to construct the forecast and predictive models.
·     Â
The scope of the market report
comprises the current scenario of the global vetronics market, along with the
detailed overview of the industry outlook, market dynamics, segmentation
analysis, regional outlook, and competitive landscape for the period 2022-2028.
FAQs:
Q 1) Does this report include the impact of COVID-19 on the
vetronics market?
The market study has
analyzed the impact of COVID-19 on the vetronics market qualitatively as well
as quantitatively.
Q 2) Which type of land-based fleet type covered the major
market share in 2021?
The majority of the
market share was held by armored vehicles in 2021, which is around 75%.Â
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VIEW REPORT1. GLOBAL
VETRONICS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE VETRONICS MARKET
2.2. KEY
INSIGHTS
2.2.1. GROWTH
OF THE VETRONICS MARKET IN THE ASIA-PACIFIC REGION (INDIA)
2.2.2. GROWING
INVESTMENTS IN HYBRID MILITARY VEHICLES
2.2.3. 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. GLOBAL
VETRONICS MARKET OUTLOOK - LAND-BASED FLEET TYPE
3.1. TANKS
3.2. ARMORED
VEHICLES
3.3. ARTILLERY
3.4. ROCKET
PROJECTORS
4. GLOBAL
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. GLOBAL
VETRONICS MARKET OUTLOOK - BY VERTICAL
5.1. DEFENSE
5.2. HOMELAND
SECURITY
6. GLOBAL
VETRONICS MARKET – REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
OUTLOOK BY LAND-BASED FLEET TYPE
6.1.2. MARKET
OUTLOOK BY COMPONENT
6.1.3. MARKET
OUTLOOK BY VERTICAL
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
OUTLOOK BY LAND-BASED FLEET TYPE
6.2.2. MARKET
OUTLOOK BY COMPONENT
6.2.3. MARKET
OUTLOOK BY VERTICAL
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. SPAIN
6.2.4.5. ITALY
6.2.4.6. POLAND
6.2.4.7. GREECE
6.2.4.8. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
OUTLOOK BY LAND-BASED FLEET TYPE
6.3.2. MARKET
OUTLOOK BY COMPONENT
6.3.3. MARKET
OUTLOOK BY VERTICAL
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. THAILAND
6.3.4.6. VIETNAM
6.3.4.7. TAIWAN
6.3.4.8. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
OUTLOOK BY LAND-BASED FLEET TYPE
6.4.2. MARKET
OUTLOOK BY COMPONENT
6.4.3. MARKET
OUTLOOK BY VERTICAL
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. ARGENTINA
6.4.4.4. VENEZUELA
6.4.4.5. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
OUTLOOK BY LAND-BASED FLEET TYPE
6.5.2. MARKET
OUTLOOK BY COMPONENT
6.5.3. MARKET
OUTLOOK BY VERTICAL
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. EGYPT
6.5.4.2. TURKEY
6.5.4.3. IRAN
6.5.4.4. ISRAEL
6.5.4.5. SAUDI
ARABIA
6.5.4.6. ALGERIA
6.5.4.7. MOROCCO
6.5.4.8. REST
OF MIDDLE EAST & AFRICA
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: GLOBAL VETRONICS MARKET, REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
2: VENDOR SCORECARD
TABLE
3: LIST OF ACQUISITIONS
TABLE
4: GLOBAL VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $ MILLION)
TABLE
5: GLOBAL VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
6: GLOBAL VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE
7: GLOBAL VETRONICS MARKET, REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
8: NORTH AMERICA VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $
MILLION)
TABLE
9: NORTH AMERICA VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
10: NORTH AMERICA VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE
11: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
12: EUROPE VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $ MILLION)
TABLE
13: EUROPE VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
14: EUROPE VETRONICS MARKET, BY VERTICAL 2022-2028 (IN $ MILLION)
TABLE
15: EUROPE VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
16: ASIA-PACIFIC VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $
MILLION)
TABLE
17: ASIA-PACIFIC VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
18: ASIA-PACIFIC VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE
19: ASIA-PACIFIC VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
20: LATIN AMERICA VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2022-2028 (IN $
MILLION)
TABLE
21: LATIN AMERICA VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
22: LATIN AMERICA VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE
23: LATIN AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
24: MIDDLE EAST AND AFRICA VETRONICS MARKET, BY LAND-BASED FLEET TYPE,
2022-2028 (IN $ MILLION)
TABLE
25: MIDDLE EAST AND AFRICA VETRONICS MARKET, BY COMPONENT, 2022-2028 (IN $
MILLION)
TABLE
26: MIDDLE EAST AND AFRICA VETRONICS MARKET, BY VERTICAL, 2022-2028 (IN $
MILLION)
TABLE
27: MIDDLE EAST AND AFRICA VETRONICS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $
MILLION)
FIGURE
1: MARKET ATTRACTIVENESS INDEX
FIGURE
2: GLOBAL VETRONICS MARKET, BY LAND-BASED FLEET TYPE, 2021 & 2028 (IN %)
FIGURE
3: GLOBAL VETRONICS MARKET, BY TANKS, 2022-2028 (IN $ MILLION)
FIGURE
4: GLOBAL VETRONICS MARKET, BY ARMORED VEHICLES, 2022-2028 (IN $ MILLION)
FIGURE
5: GLOBAL VETRONICS MARKET, BY ARTILLERY, 2022-2028 (IN $ MILLION)
FIGURE
6: GLOBAL VETRONICS MARKET, BY ROCKET PROJECTORS, 2022-2028 (IN $ MILLION)
FIGURE
7: GLOBAL VETRONICS MARKET, BY COMPONENT, 2021 & 2028 (IN %)
FIGURE
8: GLOBAL VETRONICS MARKET, BY ELECTRONIC WARFARE & C4 SYSTEMS, 2022-2028
(IN $ MILLION)
FIGURE
9: GLOBAL VETRONICS MARKET, BY NAVIGATION SYSTEMS, 2022-2028 (IN $ MILLION)
FIGURE
10: GLOBAL VETRONICS MARKET, BY POWER SYSTEMS, 2022-2028 (IN $ MILLION)
FIGURE
11: GLOBAL VETRONICS MARKET, BY VEHICLE PROTECTION SYSTEMS, 2022-2028 (IN $
MILLION)
FIGURE
12: GLOBAL VETRONICS MARKET, BY VERTICAL, 2021 & 2028 (IN %)
FIGURE
13: GLOBAL VETRONICS MARKET, BY DEFENSE, 2022-2028 (IN $ MILLION)
FIGURE
14: GLOBAL VETRONICS MARKET, BY HOMELAND SECURITY, 2022-2028 (IN $ MILLION)
FIGURE
15: GLOBAL VETRONICS MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE
16: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
17: UNITED STATES VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
18: CANADA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
19: EUROPE VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
20: UNITED KINGDOM VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
21: GERMANY VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
22: FRANCE VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
23: SPAIN VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
24: ITALY VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
25: POLAND VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
26: GREECE VETRONICS MARKET, 2022-2028 (IN $ MILLION)
FIGURE
27: REST OF EUROPE VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
28: ASIA-PACIFIC VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
29: CHINA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
30: JAPAN VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
31: INDIA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
32: SOUTH KOREA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
33: THAILAND VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
34: VIETNAM VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
35: TAIWAN VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
36: REST OF ASIA-PACIFIC VETRONICS MARKET, 2022-2028 (IN $ MILLION)
FIGURE
37: LATIN AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
38: BRAZIL VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
39: MEXICO VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
40: ARGENTINA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
41: VENEZUELA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
42: REST OF LATIN AMERICA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
43: MIDDLE EAST AND AFRICA VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2028
(IN %)
FIGURE
44: EGYPT VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
45: TURKEY VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
46: IRAN VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
47: ISRAEL VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
48: SAUDI ARABIA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
49: ALGERIA VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
50: MOROCCO VETRONICS MARKET 2022-2028 (IN $ MILLION)
FIGURE
51: REST OF MIDDLE EAST & AFRICA VETRONICS MARKET 2022-2028 (IN $ MILLION)