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NORTH AMERICA VETRONICS MARKET FORECAST 2022-2030

The North America vetronics market is anticipated to project a CAGR of 4.70% during the forecast period, 2022-2030, and is expected to record a revenue of $1803.42 million by 2030.

NORTH AMERICA VETRONICS MARKET FORECAST 2022-2030

North America Vetronics Market by Vehicle Type (Tanks, Armored Vehicles, Artillery, Rocket Projectors) Market by System (Electronic Warfare & C4 System, Navigation System, Power System, Vehicle Protection System) Market by End-user (Defense, Homeland Security) by Geography

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The North America vetronics market is anticipated to project a CAGR of 4.70% during the forecast period, 2022-2030, and is expected to record a revenue of $1803.42 million by 2030.

The vetronics market growth in North America is propelled by the government and military efforts to modernize its army. Also, the current upgradation programs of the obsolete platforms boost market demands. Additionally, the Department of Defense and industry players are investing considerably in R&D activities to modernize the land-based fleet. However, the market growth of the region is hindered by the delays in approvals of high-budget contracts and production timelines.

North America Vetronics Market

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Canada and the United States are evaluated for the North America vetronics market growth analysis. In the United States, the fast-paced integration of command systems and electronic information into military vehicles has become a necessity. These systems are being set up as networks, sharing information with combatants on the ground and across platforms within the same platform. Also, five military contractors were chosen by the US Army land warfare experts in August 2021 to build the Army M2 Bradley Fighting Vehicle replacement’s next-generation rapid armored combat vehicles and vetronics architecture. In addition, the US Army announced five different contracts for the phase-two concept design of the Optionally Manned Fighting Vehicle (OMFV).

Furthermore, it would emphasize cutting-edge electronics, a second-generation forward-looking infrared (FLIR) sensor system, a 30-millimeter cannon, and machine autonomy for unmanned operation for combat at night or during haze or smoke. Moreover, OMFV is a part of a future family of Army combat vehicles included in the Next-Generation Combat Vehicle (NGCV) program to produce armored vehicles and vetronics to improve Army units’ capabilities. Such factors drive the US vetronics market growth.

The segmentation analysis of the North America vetronics market growth includes vehicle type, end-user, and system. The vehicle type includes artillery, rocket projectors, armored vehicles, and tanks.

With regard to artillery, the US Army purchased swiftly maneuverable and modernized large-caliber field artillery cannons with digital vetronics and contemporary power systems. Also, there have been requests for more M992A3 ammo carriers and M109A7 self-propelled howitzer artillery from BAE Systems Platforms & Services. Such modifications are evaluated to aid the M109A7 155-millimeter artillery to keep up with the M2 Bradley armored personnel carrier and M1 Abrams main battle tank, both part of the quick-moving armored brigade combat team (ABCT) of the army.

In terms of rocket projectors, the Lockheed Martin Missiles and Fire Control MLRS M270 is a highly mobile rocket artillery system used in warfare. The MLRS system is used by the military forces of the United Kingdom, the United States, Turkey, South Korea, Japan, Saudi Arabia, Italy, Israel, Greece, Germany, France, Egypt, Bahrain, and Finland. At the same time, the system is built in Europe by the United Kingdom, Italy, Germany, and France as part of an international coalition of firms.

Further, in April 2021, the US Department of Defense (DOD) granted a contract modification of $214.7 million to Lockheed Martin Missiles and Fire Control for continued modernization of the M270 MLRS to M270A2. Additionally, the British Army unveiled a five-year plan in April 2021 to upgrade its current fleet to 44 M270 MLRS launchers.

Some of the leading companies operating in the North America vetronics market include General Dynamics Corporation, Thales Group, Rheinmetall AG, SAAB AB, etc.

General Dynamics Corporation (GD) is an American aerospace and defense company that provides combat vehicles, business aviation, weapon systems & ammunition, shipbuilding & maintenance, (C4ISR) solutions, and information technology services. The company’s five business divisions include marine systems, mission systems, information technology, combat systems, and aerospace. It is headquartered in Reston, Virginia.

One of its products, GVR5 Dual-Band Wave Relay MANET, is a dual-band mobile ad hoc networking (MANET) solution that easily transmits location, sensor, text, video, and audio data without the need for established infrastructure.

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed End-User, System, Vehicle Type
Countries Analyzed The United States and Canada
Companies Analyzed

BAE Systems, Curtiss-Wright, General Dynamics Corporation, L3Hariss Technologies, Leonardo SpA, Lockheed Martin, Norinco – China, Northrop Grumman, Raytheon Technologies, Rheinmetall AG, Saab AB, Thales Group

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • TECHNOLOGICAL DEVELOPMENTS
        • STANDARDIZATION OF VETRONICS SYSTEM (OPEN ARCHITECTURE)
        • CONTINUOUS EFFORTS IN RESEARCH AND DEVELOPMENT
        • MILITARY MODERNIZATION PROGRAMS
      • KEY RESTRAINTS
        • CYBER SECURITY
        • DECREASING DEFENSE BUDGET
        • REGULATIONS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON VETRONICS MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
        • COMPONENT PROVIDERS
        • SYSTEM MANUFACTURERS / OEMS
        • DISTRIBUTION
        • END-USERS
        • AFTERMARKET SERVICES
    1. MILITARY LAND FORCES ANALYSIS
      • UNITED STATES
        • UNITED STATES – OVERVIEW
        • UNITED STATES – VEHICLE & ARTILLERY
        • UNITED STATES – LAND SYSTEMS
    1. MARKET BY VEHICLE TYPE
      • TANKS
      • ARMORED VEHICLES
      • ARTILLERY
      • ROCKET PROJECTORS
    2. MARKET BY SYSTEM
      • ELECTRONIC WARFARE & C4 SYSTEM
      • NAVIGATION SYSTEM
      • POWER SYSTEM
      • VEHICLE PROTECTION SYSTEM
    3. MARKET BY END-USER
      • DEFENSE
      • HOMELAND SECURITY
    4. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
      • COMPANY PROFILES
        • BAE SYSTEMS
        • CURTISS-WRIGHT
        • GENERAL DYNAMICS CORPORATION
        • L3HARISS TECHNOLOGIES
        • LEONARDO SPA
        • LOCKHEED MARTIN
        • NORINCO – CHINA
        • NORTHROP GRUMMAN
        • RAYTHEON TECHNOLOGIES
        • RHEINMETALL AG
        • SAAB AB
        • THALES GROUP

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – VETRONICS

    TABLE 2: UNITED STATES – LAND SYSTEMS

    TABLE 3: NORTH AMERICA VETRONICS MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 4: NORTH AMERICA VETRONICS MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 5: NORTH AMERICA VETRONICS MARKET, BY SYSTEM, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: NORTH AMERICA VETRONICS MARKET, BY SYSTEM, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: NORTH AMERICA VETRONICS MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: NORTH AMERICA VETRONICS MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: NORTH AMERICA VETRONICS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: NORTH AMERICA VETRONICS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: LEADING PLAYERS OPERATING IN NORTH AMERICA VETRONICS MARKET

    TABLE 12: LIST OF MERGERS & ACQUISITIONS          

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: UNITED STATES – VEHICLE & ARTILLERY

    FIGURE 6: NORTH AMERICA VETRONICS MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2021

    FIGURE 7: NORTH AMERICA VETRONICS MARKET, BY TANKS, 2022-2030 (IN $ MILLION)

    FIGURE 8: NORTH AMERICA VETRONICS MARKET, BY ARMORED VEHICLES, 2022-2030 (IN $ MILLION)

    FIGURE 9: NORTH AMERICA VETRONICS MARKET, BY ARTILLERY, 2022-2030 (IN $ MILLION)

    FIGURE 10: NORTH AMERICA VETRONICS MARKET, BY ROCKET PROJECTORS, 2022-2030 (IN $ MILLION)

    FIGURE 11: NORTH AMERICA VETRONICS MARKET, GROWTH POTENTIAL, BY SYSTEM, IN 2021

    FIGURE 12: NORTH AMERICA VETRONICS MARKET, BY ELECTRONIC WARFARE & C4 SYSTEM, 2022-2030 (IN $ MILLION)

    FIGURE 13: NORTH AMERICA VETRONICS MARKET, BY NAVIGATION SYSTEM, 2022-2030 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA VETRONICS MARKET, BY POWER SYSTEM, 2022-2030 (IN $ MILLION)

    FIGURE 15: NORTH AMERICA VETRONICS MARKET, BY VEHICLE PROTECTION SYSTEM, 2022-2030 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA VETRONICS MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 17: NORTH AMERICA VETRONICS MARKET, BY DEFENSE, 2022-2030 (IN $ MILLION)

    FIGURE 18: NORTH AMERICA VETRONICS MARKET, BY HOMELAND SECURITY, 2022-2030 (IN $ MILLION)

    FIGURE 19: NORTH AMERICA VETRONICS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 20: UNITED STATES VETRONICS MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 21: CANADA VETRONICS MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY VEHICLE TYPE
      • TANKS
      • ARMORED VEHICLES
      • ARTILLERY
      • ROCKET PROJECTORS
    2. MARKET BY SYSTEM
      • ELECTRONIC WARFARE & C4 SYSTEM
      • NAVIGATION SYSTEM
      • POWER SYSTEM
      • VEHICLE PROTECTION SYSTEM
    3. MARKET BY END-USER
      • DEFENSE
      • HOMELAND SECURITY

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