The global vetronics market is estimated to grow at a CAGR of nearly 5.0% during the forecast period. Vetronics is a key element of military vehicles. Vetronics refers to electronic systems on a vehicle which is designed to control functions including communications, navigation, and weapons. Vehicle-equipped with information technology has been gaining significance in the battlefield as it offers advanced capabilities which is essential for both force protection and force projection. Increasing modernization and upgradation of military vehicles is the key factor that is contributing to the growth of the market. The military sector is one of the important concerns for governments and key leaders of a country. The competitiveness in the industry has increased substantially due to the advancement of the defense sector of the developed economies such as the US, and Japan.

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The global vetronics market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2019, North America is anticipated to hold a potential share in the market owing to the considerable spending on military operations and increasing focus on implementing advanced solutions in military operations. As per the SIPRI, in 2019, the US military expenditure increased by 5.3% to $732 billion and held 38% of global military expenditure. The country is the largest military spender and as a result, they focus on advancing and upgrading their military systems, which contributes to the significant adoption of vetronics in the region.

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The global vetronics market is classified into subsystem type, application, and vehicle type. Based on subsystem type, the market is classified into the navigation system, C3 systems, sensors, vehicle electronics warfare systems, and others. Based on application, the market is classified into defense and homeland security. Based on vehicle type, the market is classified into amphibious armored vehicles, main battle tank, light protected vehicles, and others.

Global Vetronics Market – Segmentation
By Application 
Food and Beverages
Chemical
Pharmaceutical
Others
Global Vetronics Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles

BAE Systems plc
Cubic Corp.
Curtiss-Wright Corp.
ECRIN Systems
Elbit Systems Ltd.
GACI Rugged Systems
General Dynamics Corp.
Kratos Defense & Security Solutions, Inc.
L3 Technologies, Inc.
Leonardo S.p.A.
Lockheed Martin Corp.
Northrop Grumman Corp.
Pleora Technologies Inc.
Rafael Advanced Defese Systems Ltd.
Raytheon Technologies Corp.
Rheinmetall AG
Saab AB
Serco, Inc.
Thales Group

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