Global Military Land Vehicle Electronics Market | Share, Size, Analysis, Drivers Trends And Segments

Chetana Gardas

Sep 12, 2022 • 3 min read

Military Land Vehicle Electronics Market Overview:

For the global industry's Military Land Vehicle Electronics market analysis, a research team did thorough primary and secondary research. Secondary research was carried out in order to enhance the existing data, segment the market, estimate overall market size, predict market size, and growth rate.

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Global Military Land Vehicle Electronics Market was valued $3.64 Bn in 2020 and is expected to reach $5.01 Bn by 2026, at a CAGR of 4.73%.

Market Scope:

Our crew gathers market information and data from a variety of sources in order to present a more accurate regional view. The country-level analysis of the study is based on an examination of numerous regional stakeholders, regional tax laws and policies, consumer behaviour, and macroeconomic data.

Drivers:

Military land vehicle electronics (Vetronics) market factors like emphasising frontline situational awareness and rising instances of asymmetric and network-centered warfare have a significant positive impact. Additionally, the growth of the market is being further fueled by the rise in defence spending, particularly in emerging economies, and the ensuing investments in the purchase of such systems.

However, factors like strict regulations and the ensuing delays in procurement procedures partially impede market expansion. Numerous countries around the world have started vehicle modernization programmes, which have led to an increase in terrorist attacks. These developments have created promising growth prospects for the military land vehicle electronics (Vetronics) market.

Segmentation:

Armed forces all over the world are using more mine-resistant ambush protected (MRAP) vehicles in this age of insurgencies, terrorism, proxy wars, and the use of irregular forces. MRAP (mine-resistant, ambush-protected) vehicles are a family of vehicles made by numerous domestic and foreign manufacturers. They typically feature an armoured hull with a "V" shape that protects against mines and improvised explosive devices (IEDs). For instance, on May 7, 2020, the US State Department approved a potential Foreign Military Sale of Excess Defence Articles (EDA) of up to 4,669 MRAP vehicles to the Government of the United Arab Emirates for an estimated price of $556 million.

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Key Players: The key players are

• Bharat Electronics Limited (BEL)
• General Electric
• Gresham Power Electronics Limited
• Kalyani Strategic Systems Ltd.
• Kongsberg
• Leonardo DRS, Inc.
• Mahindra Emirates Vehicle Armouring
• Protomatic
• Rheinmetall AG
• Saab AB
• Thales Group

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Regional Analysis:

A country-level study of the Military Land Vehicle Electronics Market focuses on segments identified as potentially high-growth, countries with the biggest market share, and nations with the greatest development potential. North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and other nations are the geographical breakdowns in the Military Land Vehicle Electronics Market study.

COVID-19 Impact Analysis on Military Land Vehicle Electronics Market: The report covers COVID-19 impact on Military Land Vehicle Electronics market.

Key Questions Answered in the Military Land Vehicle Electronics Market Report are:

What will be the CAGR of the Military Land Vehicle Electronics market during the forecast period?
Which segment emerged as the leading segment in the Military Land Vehicle Electronics market?
Which are the prominent players in the Military Land Vehicle Electronics market?
What will be the Military Land Vehicle Electronics market size by 2027?
Which company held the largest share in the Military Land Vehicle Electronics market?

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