Military Land Vehicle Electronics Market was valued $3.81 Bn in 2021 and is expected to reach $5.51 Bn by 2029, at a CAGR of 4.73%.
Military Land Vehicle Electronics Market Overview:
The Military Land Vehicle Electronics market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the Military Land Vehicle Electronics Market, as well as the reasons for variations in the industry's growth across a number of sectors.
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Segmentation:
In this era of insurgencies, terrorism, proxy wars and employment of irregular forces, the use of mine-resistant ambush protected (MRAP) vehicles by armies around the world has been on the increase. Mine-Resistant, Ambush-Protected (MRAP) vehicles are a family of vehicles produced by a variety of domestic and international companies. They generally incorporate a “V”-shaped hull and armor plating designed to provide protection against mines and improvised explosive devices (IEDs). For instance, On May 7 2021, the US State Department made a determination approving a possible Foreign Military Sale to the Government of the UAE of Excess Defence Articles (EDA) of up to four thousand five hundred sixty-nine (4,569) MRAP vehicles for an estimated cost of $556 million. This sale boosted the segment growth for MRAP Vehicles in the US Region, thereby driving the vetronics market.
The increasing need for responsive C3 systems is being driven by the rapidity with which weapons can be deployed. The C3 system has become relatively efficient in dealing with short reaction times. NTDS and other comparable tactical C3 systems have begun to satisfy the requirements of on-scene commanders. As these systems expand in capability, remote commanders will become increasingly involved at the tactical level, especially where the engagement has strategic significance. Current technology has already placed heads of government in direct communication with one another.
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Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Military Land Vehicle Electronics market are as follows:
• 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.
• BAE Systems plc
• Curtiss-Wright Corporation
• General Dynamics Corporation
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Military Land Vehicle Electronics market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Military Land Vehicle Electronics Market:
End-user industries where Military Land Vehicle Electronics are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Military Land Vehicle Electronics manufacturers, affecting the Military Land Vehicle Electronics market's growth in 2020. End-user business demand for Military Land Vehicle Electronics has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Military Land Vehicle Electronics Market Report are:
- In 2021, which segment accounted for the most share of the Military Land Vehicle Electronics market?
- What is the competitive landscape of the Military Land Vehicle Electronics market?
- What are the key factors influencing Military Land Vehicle Electronics market growth?
- In the Military Land Vehicle Electronics market, which region has the most market share?
- What will be the CAGR of the Military Land Vehicle Electronics market during the forecast period (2022-2027)?