The global vetronics market size reached US$ 3.2 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 4.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2023-2032.
Vetronics, or vehicle electronics, refers to the collection of various electronic subsystems within an automobile. It is primarily used by military units to integrate systems, such as communication, command, navigation, surveillance and vehicle health management. It consists of various automotive electronic technologies, such as autonomous driving, sensors and secure communications systems. These systems are integrated with battle tanks, and light-protected, armored and infantry fighting vehicles. They are also equipped with sophisticated technologies, such as HD video calling, advanced threat detection sensors, high bandwidth networking and portable power systems.
Significant growth in the automotive industry is one of the key factors driving the growth of the market. Furthermore, the increasing focus of military and defense services on enhancing their situational awareness is also providing a boost to the market growth. Owing to the rising concerns regarding geopolitical unrest and cross-border security, along with increasing instances of border breaching, there is widespread adoption of vetronics for improving inter- and intra-vehicle communications, surveillance and navigation. Additionally, various technological advancements, including the emergence of wireless communications technology and increasing modernization of military vehicles, are also creating a positive impact on the market. For instance, unmanned vehicles (UMV) and drones are used for surveillance purposes, along with various commercial applications, such as capturing images and videos of sporting events and cityscapes. Other factors, including the availability of cost-effective components and increasing government investments in the defense sector, are projected to drive the market further.
Homeland Security
Light Protected Vehicles
Amphibious Armoured Vehicles
Mine Resistant Ambush Protected (MRAP) Vehicles
Infantry Fighting Vehicles
Armored Personnel Carriers
Others
Observation and Display Systems
C3 Systems
Weapon Control Systems
Sensor and Control Systems
Vehicle Protection Systems
Power Systems
Others
Retrofit
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
What are the key regional markets?
What has been the impact of COVID-19 on the global vetronics market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the subsystem?
What is the breakup of the market based on the fit?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vetronics market and who are the key players?
What is the degree of competition in the industry?
Vetronics, or vehicle electronics, refers to the collection of various electronic subsystems within an automobile. It is primarily used by military units to integrate systems, such as communication, command, navigation, surveillance and vehicle health management. It consists of various automotive electronic technologies, such as autonomous driving, sensors and secure communications systems. These systems are integrated with battle tanks, and light-protected, armored and infantry fighting vehicles. They are also equipped with sophisticated technologies, such as HD video calling, advanced threat detection sensors, high bandwidth networking and portable power systems.
Significant growth in the automotive industry is one of the key factors driving the growth of the market. Furthermore, the increasing focus of military and defense services on enhancing their situational awareness is also providing a boost to the market growth. Owing to the rising concerns regarding geopolitical unrest and cross-border security, along with increasing instances of border breaching, there is widespread adoption of vetronics for improving inter- and intra-vehicle communications, surveillance and navigation. Additionally, various technological advancements, including the emergence of wireless communications technology and increasing modernization of military vehicles, are also creating a positive impact on the market. For instance, unmanned vehicles (UMV) and drones are used for surveillance purposes, along with various commercial applications, such as capturing images and videos of sporting events and cityscapes. Other factors, including the availability of cost-effective components and increasing government investments in the defense sector, are projected to drive the market further.
Key Market Segmentation:
The report provides an analysis of the key trends in each sub-segment of the global vetronics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on application, vehicle type, subsystem and fit.Breakup by Application:
DefenseHomeland Security
Breakup by Vehicle Type:
Main Battle TanksLight Protected Vehicles
Amphibious Armoured Vehicles
Mine Resistant Ambush Protected (MRAP) Vehicles
Infantry Fighting Vehicles
Armored Personnel Carriers
Others
Breakup by Subsystem:
Navigation SystemsObservation and Display Systems
C3 Systems
Weapon Control Systems
Sensor and Control Systems
Vehicle Protection Systems
Power Systems
Others
Breakup by Fit:
Line-FitRetrofit
Breakup by Region:
North AmericaUnited States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being BAE Systems PLC, Curtiss-Wright Corporation, General Dynamics Corporation, Harris Corporation, Leonardo-Finmeccanica S.P.A, Lockheed Martin Corporation, Raytheon Company, Rheinmetall AG, Saab Group, Thales Group, etc.Key Questions Answered in This Report:
How has the global vetronics market performed so far and how will it perform in the coming years?What are the key regional markets?
What has been the impact of COVID-19 on the global vetronics market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the subsystem?
What is the breakup of the market based on the fit?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vetronics market and who are the key players?
What is the degree of competition in the industry?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis13 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Vetronics Market
6 Market Breakup by Application
7 Market Breakup by Vehicle Type
8 Market Breakup by Subsystem
9 Market Breakup by Fit
10 Market Breakup by Region
11 SWOT Analysis
14 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- BAE Systems PLC
- Curtiss-Wright Corporation
- General Dynamics Corporation
- Harris Corporation
- Leonardo-Finmeccanica S.P.A
- Lockheed Martin Corporation
- Raytheon Company
- Rheinmetall AG
- Saab Group
- Thales Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.2 Billion |
| Forecasted Market Value ( USD | $ 4.9 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
