Global Military Land Vehicle Electronics Market – Introduction
Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.
The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period.
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Global Military Land Vehicle Electronics Market –Dynamics
Key Drivers of the Military Land Vehicle Electronics Market
Significant demand for military land vehicle electronics is expected to drive the growth of the market across the world, due to rising population who need increased land protection.
Rising demand for new sighting devices, infrared cameras, and thermal imaging systems is expected to contribute significantly to the growth of the global military land vehicle electronics market.
Increasing complexities in war techniques has resulted in bigger requirement for Intelligence, Surveillance and Reconnaissance (ISR) activities, which is expected to drive the military land vehicle electronics market.
Increasing research and development investment for Intelligence, Surveillance and Reconnaissance (ISR) systems, such as infrared vision systems, thermal sights, and laser target designators across developed and developing countries is expected to accelerate the growth of the military land vehicle electronics market.
Restraints of the Military Land Vehicle Electronics Market
High cost of military land vehicle electronics and their maintenance is one of the negative factors that can restrain the growth of the military land vehicle electronics market.
The new trend in developed countries to produce their own defense equipment is also an issue hampering the import of vehicles from other countries. This can adversely impact the global military land vehicle electronics market.
North America to Hold Major Share of the Global Military Land Vehicle Electronics Market during the Forecast Period
North America is expected to hold significant share of the military land vehicle electronics market over the forecast period. In Addition to it, the U.S. is mostly maintaining and upgrading its existing military fleets rather than replacing them with new ones.
Europe is projected to hold substantial share in the global military land vehicle electronics market during the forecast period owing to increased investment in research and development for the growth of advanced military land vehicle electronics.
The military land vehicle electronics market is likely to grow at a significant rate in Asia Pacific during the forecast period due to rising terrorist attacks across the region.
Global Military Land Vehicle Electronics Market –Competitive Landscape
Key Players Operating in the Global Market
The global military land vehicle electronics market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. A few of the key players operating in the global military land vehicle electronics market are listed below:
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
Thomas Electronics
W. L. Gore & Associates, Inc.
In September 2017, Kongsberg and Thales Group signed an extension to their agreement for providing remote weapon systems to British defense forces, which was made in 2007.
Global Military Land Vehicle Electronics Market –Research Scope
The global military land vehicle electronics market can be segmented based on:
Vehicle Type
System Type
Applications
Region
Global Military Land Vehicle Electronics Market, by Vehicle Type
Mine Resistant Ambush Protected (MRAP) Vehicles
Main Battle Tanks
Armored Personnel Carrier
Light Protected Vehicles
Infantry Fighting Vehicles
Amphibious Armored Vehicles
Others
Global Military Land Vehicle Electronics Market, by System Type
Observation, Display & Computing Systems
Weapon Control Systems
Vehicle Protection Systems
C3 & C4ISR/EW Systems
Navigation Systems
Sensor & Control Systems
Power Systems
Global Military Land Vehicle Electronics Market, by Applications
Camions
Tanks
Others
Global Military Land Vehicle Electronics Market, by Region
North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Italy
Spain
Sweden
Russia & CIS
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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About the Author
Mayuri Joined: October 20th, 2020 Articles Posted: 322
