Portland, OR -- (SBWIRE) -- 08/30/2017 -- Among system types, the military communication, command, and control segment would dominate the market during the analysis period, 2014–2022.

Vetronics is vehicle electronics that empower military units by integration of various systems including communication, command, and control, vehicle protection systems, navigation system, vehicle electronic warfare system, and surveillance system to streamline tasks such as communication, navigation, surveillance, and vehicle health management.

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Worldwide military units aims to invest in solutions and systems to make significant improvements in military operations and gain an advantage on the battlefield. Moreover, rise in need for effective systems for combat management in the defense sector has motivated leading players to develop and provide advanced battlefield management systems. Moreover, advancements in wireless communication technology have opened up new avenues for market players. These factors would fuel growth in the military communication, command, and control segment, registering the fastest CAGR throughout the forecast period, 2016–2022. Furthermore, the vehicle electronic warfare system segment is estimated to register the second highest CAGR for the forecast period, owing to factors such as increase in need to monitor cross-border activities, determine weaknesses of enemy, and facilitate effective connectivity between central and remote vetronics systems.

Based on the geography, the global vetronics market is divided into four major regions including North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region generated the highest revenue in 2014, contributing for around 29% of market share in the global market. The LAMEA region is estimated to grow at the second highest CAGR of 5.3% for the forecast period.

The report provides a competitive landscape of the global vetronics market and offers extensive analysis of growth strategies adopted by major market players. Leading companies active in the market have adopted various strategies, such as new product launch, collaboration, agreement, partnership, joint ventures, and others, to consolidate their market position and grow their market presence. Some of the key players operating in the market are Leonardo-Finmeccanica S.p.a., Lockheed Martin Corporation, Thales S.A., Saab Group, Harris Corporation, General Dynamics Corporation, BAE Systems PLC., Curtiss-Wright Corporation, Raytheon Company, and Rheinmetall AG.

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Key findings of the Vetronics Market:

Military communication, command, and control segment generated the highest revenue in 2014, and is estimated to register the highest CAGR throughout the forecast period.

The military communication, command, and control segment is expected to create lucrative opportunities for leading market players operating in the global industry.

Based on regions, the Asia-Pacific region dominated the global market in 2014, and is projected to maintain its lead during the period, 2016–2022.

Among countries, the U.S. was the leading country on the basis of spending on vetronics systems in 2014, followed by China. Furthermore, Germany, Spain, U.K., and India are estimated to offer significant opportunities for leading market players.