Market Research Report
Global Vetronics Market 2020-2026
|Published by||Orion Market Research Pvt Ltd||Product code||949476|
Delivery time: 2-3 business days
|Global Vetronics Market 2020-2026|
|Published: May 30, 2020||Content info:||
Global Vetronics Market Size, Share & Trends Analysis Report, By Subsystem Type (Navigation System, C3 Systems, Sensors, Vehicle Electronics Warfare Systems, and Others), By Application (Defense and Homeland Security), By Vehicle Type (Amphibious Armored Vehicles, Main Battle Tank, Light Protected Vehicles, and Others) and Forecast, 2020-2026
The global vetronics market is estimated to grow significantly during the forecast period. Some crucial factors attributing to the growth of the market include rising military expenditure and significant focus on the prevention of terrorism attacks. As per the Global Terrorism Index 2017, the number of mortalities from terrorist attacks were 25,673 globally. This has created an increased focus to maintain proper security and communication infrastructure, which results in the demand for mission-critical systems including vetronics. As military vehicles have a significant role in the battlefield, there is an increased need for modernization of vehicles to equip advanced communication, command, and navigation systems. In military vehicles, the vetronics systems offer capabilities including information intelligence, communication, survivability, situational awareness, and many more. This contributes to the increasing demand for vetronics to combat the effects of terrorism and prevent terrorist activities.
Geographically, the global vetronics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2019, North America is estimated to witness potential share in the market owing to the significant military expenditure and increasing focus to prevent terrorist attacks. This, in turn, is contributing to fuel the adoption of vetronics in military and homeland security applications in the region. Asia-Pacific is estimated to witness considerable growth during the forecast period owing to the increasing spending on military operations in China and India and emerging demand for advanced electronic and communication systems to equip in military vehicles to drive the demand for vetronics systems in the region.
Some key players in the market include Thales Group, Saab AB, Lockheed Martin Corp., Curtiss-Wright Corp., and Raytheon Technologies Corp. Mergers and acquisitions, product launches, and partnerships and collaborations are considered as key strategies adopted by the market players to accelerate their market share. For instance, in April 2020, Raytheon Technologies Corp. declared the successful merger between United Technologies Corp. and Raytheon Co. Through this merger agreement, United Technologies' name has changed to Raytheon Technologies Corp. The combined strengths and capabilities of both companies will support Raytheon to support its customers and partners by offering the best commercial and military technology. This will offer new opportunities for Raytheon across the aerospace and defense sectors.
The market study of the global vetronics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: