The leading market players in the global military vetronics market primarily include Curtiss-Wright Corporation, Oshkosh Corporation, Ultra Electronics Ltd., TE Connectivity, SAAB A.B., Kongsberg Gruppen ASA, General Electric Company, BAE Systems plc, Rheinmetall Defence, Moog, Inc., Lockheed Martin Corporation, Elbit Systems Ltd., Thales Group, Raytheon, and General Dynamics Corporation.
Military Vetronics Market – Market Overview
Vetronics (vehicle electronics) are used in military land vehicles to enable navigation, observation, and communication. They can help in the exchange of inter-vehicular or intra-vehicular information. These systems increase warfare capabilities by facilitating the military in their intelligence, surveillance, and reconnaissance missions.
The global military vetronics market is expected to grow steadily in the next few years. This growth is driven by the rising demand for advanced vetronics systems enabling enhanced performance, military modernization programs, and changing nature of warfare (technology-centric warfare) among others. Demand from major markets such as Europe and the US, along with the rising demand from emerging nations in the APAC is also expected to be a major factor for the market growth.
Over the last decade, there has been an increasing need to rapidly modernize the military systems. It includes the need to upgrade and equip the military land vehicles with optimized military equipment and vetronics. Traditionally, 'bolt-on' systems were largely used for such requirements. It however leads to added weight, reduced flexibility of the system, and power and cooling issues in the vehicles.
To overcome such possible issues, modular approach are largely being implemented. Modular vetronics approach is based on a layered architecture that enables ease for scaling and implementing configuration changes. This approach emphasizes on standard component design while also providing a significant reduction in the cost of making changes in future requirements. Vehicles with modular system approach thus offer more benefit than the conventional vehicles. Because of the similarity in various components, it is easily available during the need for maintenance, which further reduces the life cycle cost, and also enables a lean supply chain.
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