Aerospace Industry Today
Vetronics Market Insights Emerging Opportunities in Industry by 2030
Rise in defense budget expenditure for modernization of existing vetronics systems, incorporation of new age information technologies, and demand for open architecture have boosted the growth of theย global vetronics market. However, surge in cyber threats and high manufacturing cost hinder the market growth. On the contrary, proactive government initiatives and surge in share of electronic components in military vehicles would open new opportunities in the future.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ:ย https://www.alliedmarketresearch.com/request-sample/1752
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Key players operating in the vetronics market are Thales Group, Curtiss-Wright Corporation, Saab Ab, General Dynamics Corporation, BAE Systems, Leonardo S.p.A., Rheinmetall AG, Raytheon Technologies Corporation, L3harris Technologies, Inc, and Lockheed Martin Corporation.
The vetronics industry holds great potential in the future, owing to rise in the global military expenditure. Large scale modernization contracts and integration of unmanned vehicles in battle fleet will serve as a major market accelerator. Countries such as the U.S., Russia and China has already announced integration of unmanned vehicles in their operational fleet between 2025 and 2030. Such integrations will demand comprehensive navigation, command and communication system, generation business potential to the vetronics market.
By vehicle type, the main battle tank segment held the largest share in 2020, accounting for nearly one-third of the global vetronics market, owing to rise in investments from defense organization for acquisition of these vehicles. However, the infantry fighting vehicle segment is estimated to register the highest CAGR of 5.3% during the forecast period, due to rise in demand to integrate these vehicles with advanced vetronics systems.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:ย https://www.alliedmarketresearch.com/vetronics-market/purchase-options
By platform, the market is categorized into homeland security, and military. The homeland security market is forecasted to exhibit lucrative growth rate in North America and Europe, whereas the military segment is expected to witness a higher growth rate in Asia-Pacific in the coming years. The vehicle type segment encompass main battle tank, light combat vehicles, armored personnel carriers, infantry fighting vehicle, and others. The main battle tank segment is expected to witness highest vetronics industry share in the coming years backed up by multiple modernization contract within the segment. In December 2020, General Dynamics received the contract worth $4.6 billion from the U.S. Army to integrate latest configuration of latest configuration of Abrams Main Battle Tanks. The system segment accounted for weapons & control system, command & communication, navigation & display, sensors & optronics, power system and others. The command & communication segment is expected to grow at a notable rate over coming years.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ :ย https://www.alliedmarketresearch.com/purchase-enquiry/1752
By region, the market across North America dominated in 2020, accounting for more than two-fifths of the market, owing to presence of several market players and high defense budget expenditure of countries including the U.S. However, the global vetronics market across Asia-Pacific is expected to showcase the highest CAGR of 5.9% during the forecast period, due to integration of novel technologies and surge in efforts taken by countries such as India and China to increase indigenous manufacturing capabilities.
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By platform, the military segment is expected to lead the market during the forecast period.
By vehicle type, the main battle tank segment is expected to lead the market during the forecast period.
By system, the weapon & control system segment is expected to grow at a lucrative growth rate during the forecast period.
Asia-Pacific is anticipated to exhibit highest CAGR during the forecast period.
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