The global military vetronics market size is expected to reach USD 7.12 billion by 2032, according to a new study by polaris Market Research. The report “Military Vetronics Market Share, Size, Trends, Industry Analysis Report, By Platform (Homeland Security, and Military); By Vehicle Type; By System; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into the current market dynamics and provides an analysis of future market growth.
Combination of web 4.0 technology and military avionics systems indicates enormous economic potential for the growth of the sector. Symbiotic web systems that are autonomous, collaborative, proactive, analytic, and data-driven, with reasoning and learning capabilities through artificial intelligence (AI), connected with central processing centers via the cloud, offer many opportunities for corporate growth. For instance, in July 2021, The American army and BAE Systems have a contract for 72.5 million dollars worth of digital vetronics for artillery armored combat vehicles.
M109A7 armored fighting vehicle will be upgraded with a contemporary power system and digital vetronics. The Tully networked and integrated electronics system, which promises to connect automobiles, aerial vehicles, and other support vehicles to one network, is gaining market share. These systems reduce lead times, boost operational efficiency, and allow smooth data flow between platforms.
Combat demands adaptable forces that can move quickly and precisely. To take advantage of the information advantage, the modern military is concentrating on implementing cutting-edge network technologies. By connecting sensors, commanders, and shooters in a full networking environment, militaries from various nations are upgrading their arsenal to improve situational awareness, speed decision-making, and maximize mission effectiveness.
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Additionally, the army's adoption of several military vehicles, including amphibious vehicles, unmanned ground vehicles, infantry combat vehicles, and mine-resistant ambush protection vehicles, will aid in the market’s expansion. For instance in March 2021, to create a hybrid architecture, the USAF spoke with business satellite operators. Armed forces will be able to switch networks between commercial and military satellites owing to this design, boosting connectivity and lessening the likelihood of cyberattacks. These vehicles need precise navigation systems, enabling the army to conduct operations with accuracy. Therefore, the market is growing rapidly as demand for the products is increased across various verticals.
Military Vetronics Market Report Highlights
Polaris Market Research has segmented the Military Vetronics Market report based on platform, vehicle type, system, and region:
Military Vetronics Market, Platform Outlook (Revenue - USD Billion, 2019 - 2032)
Military Vetronics Market, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)
Military Vetronics Market, System Outlook (Revenue - USD Billion, 2019 - 2032)
Military Vetronics Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)