What Has Been the Progress and Growth of the Military Vetronics Market in Recent Years?
The military vetronics market has seen considerable growth due to a variety of factors.
•In the past few years, we've observed a consistent expansion in the military vetronics market size. The projections suggest an increase from $5.36 billion in 2024 to $5.59 billion in 2025, with a compound annual growth rate (CAGR) of 4.4%.
The historical growth can be credited to several factors: modernization of military vehicles, emphasis on c4isr systems, increased threats and security challenges, network-centric warfare strategies, and a greater demand for improved communication systems.
What Can Be Expected from the Military Vetronics Market in the Coming Years?
The military vetronics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for the military vetronics market as they project a continuous growth over the next few years, with a projection to reach a value of $6.65 billion by 2029 at a compound annual growth rate (CAGR) of 4.4%.
This prospective growth within the forecast window can be accredited to factors such as the incorporation of AI and autonomous technologies, increased focus on cybersecurity measures, a spike in urban warfare and hybrid threats, improved electronic warfare capabilities, and worldwide geopolitical evolutions. Some predominant trends for the forecast period include modularity and scalability, integration of unmanned ground vehicle (UGV), efficient power management, data amalgamation and analysis, cross-domain synergy.
What Are the Critical Driver Fuelling the Military Vetronics Market's Growth?
The military vetronics market is anticipated to grow due to a rise in defense spending. Defense spending involves all current and capital costs from military forces, including peacekeeping units, defense departments, and other governmental entities engaged in defense efforts and paramilitary units. Enhanced defense budgets allow military agencies to allocate more funds towards the research, development, and procurement of top-of-the-line vetronic systems. This increased financing allows the military to leverage high-end technologies such as advanced sensors, communication systems, unmanned systems, and integrated command and control systems. As an example, the Stockholm International Peace Research Institute, an independent organization on global security based in Sweden, reported that total global military spending increased to $2,443 billion in 2023. This represented a 6.8% increase in actual terms compared to 2022. Consequently, a rise in defense spending is expected to fuel the military vetronics market.
How Is the Military Vetronics Market segmented?
The military vetronics market covered in this report is segmented –
1) By Type: Navigation System, Communication System, Power System, Control And Data Distribution System, C4 System, Display System, Other Types
2) By Fit: Line-Fit, Retrofit
3) By Application: Unmanned Ground Vehicles, Light Protected Vehicles, Special Purpose Vehicles, Armored Amphibious Vehicles, Other Applications
4) By End-User: Defense, Homeland Security
Subsegments:
1) By Navigation System: Global Positioning System (GPS), Inertial Navigation System (INS), Terrain Navigation System
2) By Communication System: Tactical Communication Systems, Satellite Communication Systems, Intercom Systems
3) By Power System: Power Generation Systems, Power Distribution Systems, Energy Storage Systems
4) By Control And Data Distribution System: Data Bus Systems, Control Management Systems
5) By C4 System: Command And Control Systems, Computer Systems, Communication Systems For C4
6) By Display System: Multi-Functional Displays (MFD), Head-Up Displays (HUD), Helmet-Mounted Displays (HMD)
7) By Other Types: Sensor Systems, Surveillance Systems, Electronic Warfare Systems
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What New Trends Are Influencing the Military Vetronics Market?
The emergence of product innovations is a crucial trend gaining traction in the military vetronics market. Major firms in the vetronics sector for military use are creating new products to maintain their market stance. Kontron AG, a Germany-based firm that specializes in constructing embedded computer modules and systems for defense and homeland security, launched the DARC VX208, a robust, high-performance mission computer system with constrained SWaP, in May 2022. This system is also well equipped for several challenging military and aerospace scenarios, such as mission computing, command control, electronic warfare, and vetronics. The DARC VX208 fuses Optical 10 GbE ports along with server-grade processing power and MIL-DTL38999 I/O capabilities, proving ideal for radars and various high-definition video processing applications that require high bandwidth to transmit large data quantities.
Who Are the Key Players in the Military Vetronics Market?
Major companies operating in the military vetronics market include:
• General Electric Co
• Raytheon Company
• The Boeing Company
• Lockheed Martin Corporation
• Rheinmetall AG
• Elbit Systems Ltd.
• Saab AB
• General Dynamics Corporation
• Northrop Grumman
• Kongsberg Gruppen ASA
• Cummins Inc.
• BAE Systems Inc.
• Collins Aerospace
• Curtiss-Wright Corp
• Cobham Limited
• Safran SA
• Thales SA
• L3Harris Technologies Inc.
• TE Connectivity Ltd.
• Assabloy AB
• Leonardo-Finmeccanica SPA
• Oshkosh Defense LLC
• Point Blank Enterprises Inc.
• KVH Industries Inc.
• C4 Advanced Tactical Systems LLC.
What Is The Most Dominant Region In The Military Vetronics Market?
North America was the largest region in the military vetronics market in 2024. The regions covered in the military vetronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
