Vetronics Market projected to reach $3.51 Billion by 2021

1. Vetronics Market projected to reach $3.51 Billion by 2021 The vetronics market is estimated to be USD 2.85 billion in 2016 and is projected to reach USD 3.51 billion by 2021, at a CAGR of 4.30% between 2016 and 2021. Increase in network centric warfare, embedded technology systems commonality, shift towards COTS enabled improved SWaP specification, and hybrid engine systems of defense vehicles are some the factors fueling the demand for vetronics across the globe. Download Sample of this Report: https://www.marketsandmarkets.com/requestsample.asp?id=150885501 Browse 75 market data Tables and 70 Figures spread through 150 Pages and in-depth TOC on "Vetronics Market" https://www.marketsandmarkets.com/Market-Reports/vetronics-market-150885501.html Early buyers will receive 10% customization on this report. Based on vehicle type, the mine resistant ambush protected segment of the vetronics market is projected to grow at the highest CAGR during the forecast period, owing to rise in defense spending of developing economies. The demand for next generation vetronics systems is also a major factor fueling the growth of this segment. There has been a rise in demand for mine resistant ambush protected vehicles, especially from countries, such as Iraq and Afghanistan, as these provide protection against improvised explosive devices, rocket propelled grenades, and small arms fire. Based on subsystem, the C3 systems segment is estimated to account for the largest market share during the forecast period. The need for technologically advanced vehicles is a major factor fueling the growth of this segment. Overcoming future C3 challenges has been the focus of recent initiatives by developed nations, including automation of C3 functions, digitization of the battlefield, and horizontal integration of combat activities.

2. Though North America and Europe are the largest markets for vetronics in military land vehicles, the economic scenario has compelled countries in these regions to trim their defense budget. Emerging economies, such as India, Brazil, and Saudi Arabia are being considered as lucrative markets for vetronics due to rise in modernization programs and procurement of military land vehicles in these countries. China remains an untapped market for vetronics owing to strict government regulations regarding indigenous programs, and copyright issues for military hardware and technology. Key players in the vetronics market include Thales Group (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden), General Dynamics Corporation (U.S.), Curtiss Wright Corporation (U.S.), Elbit Systems (Israel), Leonardo-Finmeccanica SPA (Italy), Harris Corporation (U.S.), Rheinmetall AG (Germany), BAE Systems (U.K.), among others. Substantial research and development of hybrid engine systems and innovative energy solutions are some of the potential growth opportunities for these players in the vetronics market. Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=150885501 About MarketsandMarkets: MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Company: MarketsandMarkets Contact: Mr. Shelly Singh Phone: 1-888-600-6441