Military Vetronics Market

Military Vetronics Market Size by System (Weapon and Control Systems, Navigations and Display, Power System, Command and Communication, Sensor and Optronics, and Others), Platform Type (Unmanned Ground Vehicles, Light Protected Vehicles, Special Purpose Vehicles, Main Battle Tanks, Light Protected Vehicles, Amphibious Vehicles and Others), Fit (Line Fit and Retro Fit), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13932
  • Published Date: Jan, 2024
  • Pages: 238
  • Category: Aerospace & Defence
  • Format: PDF
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The global military vetronics market was valued at USD 5 billion in 2022 and grew at a CAGR of 5% from 2023 to 2032. The market is expected to reach USD 8.14 billion by 2032. The increasing defence budgets will drive the growth of the global military vetronics market.

Market Introduction:

Vetronics, an acronym for vehicle electronics, encompasses parts ranging from circuit boards and semiconductors to power electronics and displays. Engineers have refined them over time to achieve the ideal balance of dependable performance, low weight, and economical power use. A vehicle's electronic systems that manage weaponry, communications, and navigation are considered vetronics. "vehicle electronics," or "vetronics," is a technology term often used in the military. A significant component of military vehicles is electronics. The military electronics, subsystems, and components are the foundation of missile defence systems, electronic warfare systems of the army and air force, command and control systems, and navigation and communication systems used by the armed services. Because of their capabilities, military electronics firms are therefore vital to the modern defence sector. Vetronics integrates the appropriate electronics systems in combat vehicles and communication technologies that provide seamless, dependable interactions between units to produce a highly effective, agile, collaborative fighting system.

Military Vetronics Market Size

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Recent Development
  • The company secured a $288.4 million order to upgrade outdated Bradleys into brand-new M2A4 and M7A4 Bradley combat vehicles. This is the second multi-million dollar deal that BAE Systems' armoured combat vehicle designers have won in as many months. Upgraded fire-support vehicles like the M7A4 Bradley have integrated target-locating systems to aid in directing airborne weapons and artillery fire. It has equipment that observers who are not mounted can use.

Market Dynamics:


The increasing defence expenditure – the geopolitical tensions have risen to an all-time high for the first time after the end of the Cold War. The Armenia-Azerbaijan conflict that led to the swift military action by Azerbaijan in 2023 in the Nagorno-Karabakh region, displacing thousands of Armenians, was a result of low situational awareness on the part of Armenia. Similarly, the Russian invasion of Ukraine and the Hamas attack on the state of Israel, followed by Israel declaring war on Hamas and bombarding the Gaza Strip, all highlighted the importance of having a robust military and national security infrastructure. China threatening Taiwan, increasing skirmishes in the South China Sea between China and the Philippines, and China attacking Indian borders all point to an uncertain future where there will be more conflicts. All of these conflicts have lessons for the world. Therefore, governments are increasing the defence budget to prepare for incidents that threaten the country's security. This increase in budget expenditure will modernize the military, and the global electronics systems market will benefit from it during the forecast period.

  • The experts at BAE Systems in armoured combat vehicles will create networked vehicles that can perform various tasks on the battlefield, including armoured ambulances, command vehicles, mortar carriages, and engineer vehicles. A $432.6 million order for armoured multi-purpose vehicles (AMPV) has been made to the York, Pennsylvania-based BAE Systems Platforms & Services division by U.S. Army Contracting Command officials at Rock Island Arsenal, Ill. The contract covers initiatives to expand facility capacity to improve AMPV production and early-order material to support future AMPV purchases. The U.S. military's Vehicle Integration for C4ISR/EW Interoperability (VICTORY) standards, which employ an adopt-adapt-author methodology regardless of particular hardware or software, are required for vetronics and software under the AMPV programme.

The high development costs – vetronics is a sophisticated niche technology segment that utilizes high-end hardware and software. Developing such technologies and integrating vetronics with existing vehicles is a capital-intensive endeavour. Therefore, the high costs of development will hamper the market's growth.


Technological advancements that improve military systems Vetronics now have better situational awareness, efficacy, and interoperability, given the technology breakthroughs. Given these advancements and technologies, battle tanks are now outfitted for the demands of contemporary military conflict. The growing trend of higher defence spending worldwide also contributes to AI adoption in military vetronics. With enhanced imaging and navigation, AI enables vetronics to increase surveillance scope and enhance target identification. Faster diagnostic and data processing enable military vehicles to coordinate defence and offensive manoeuvres better and intercept hostile attacks. These advancements will help the military vetronics market grow globally throughout the projected decade.

  • Suppose signals from Global Positioning System (GPS) satellites are blocked or jammed. In that case, U.S. Army land warfare experts are requesting that the Collins Aerospace segment of Raytheon Technologies Corp. (RTX) build additional vetronics systems to ensure accurate positioning, navigation, and timing (PNT) for its fleet of combat vehicles. In August, Collins Aerospace was awarded a $24.9 million contract by the Army Contracting Command at Aberdeen Proving Ground, Maryland, for Mounted Assured Positioning, Navigation, and Timing Systems (MAPS).
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global military vetronics market, with a 47% market revenue share in 2022.

The United States of America is at the forefront of technology and military development. Given the robust innovations and development driven by increased military spending, they have access to the most advanced technologies. The presence of significant market players in the region also augments the growth. The US is the guarantor of security for its allies and, therefore, has a large market for military exports, including military vetronics. The growing threat from China, Russia and North Korea has prompted more spending on military innovation, thereby driving the market's growth.

North America Region Military Vetronics Market Share in 2022 - 47%

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  • Under a $63.9 million contract, the U.S. Army is purchasing updated, quick-moving, large-calibre field artillery guns with digital vetronics and contemporary power systems, along with the carrier ammunition tracked armoured combat vehicles that go with them.
System Segment Analysis

The system segment is divided into weapon and control systems, navigations and display, power system, command and communication, sensor and optronics, and others. The weapon and control systems segment dominated the market, with a market share of around 36% in 2022. Radar, drones, and missile defence systems are automated, monitored, and managed with the help of control systems. Weapons system encompasses all kinds of weapons and their assisting equipment. A weapons and control system has hand or automated controls with a visual display and a weapon mount that supports and fires a weapon in response to commands from the system electronics. They are fundamental and essential parts of military vehicles, tanks, aircraft and all other necessary systems. Vetronics is employed in these systems to further their efficacy.

Platform type Segment Analysis

The platform type segment is divided into unmanned ground vehicles, light-protected vehicles, special purpose vehicles, main battle tanks, light-protected vehicles, amphibious vehicles and others. The main battle tank segment dominated the market, with a market share of around 42% in 2022. A main combat tank, also called a battle tank or universal tank, performs the function of armour-protected direct firing and manoeuvrability. The MBT, frequently extensively armoured, has been a crucial part of ground force doctrine in modern defence. Vetronics enables the development of tanks with strong engines and improved suspension.

  • To replace the Corps' aged fleet of amphibious assault vehicles (AAVs), U.S. Marine Corps experts in amphibious warfare requested an additional 44 armoured combat vehicles along with their corresponding vetronics. A $256.9 million order for 27 Amphibious Combat Vehicle (ACV) personnel versions and 17 ACV command variants was made public earlier this month by the Marine Corps Systems Command representatives at Quantico Marine Base, Virginia. The deal has a cumulative total value of $1.7 billion.
Fit Segment Analysis

The fit segment is divided into line fit and retro fit. The retrofit segment dominated the market, with a market share of around 75% in 2022. Armoured vehicle retrofitting is a popular approach to increasing the combat worth of vehicles or tanks. In general, the meaning of the word changes to "adding new technology or features to older systems" when discussing armour, but it generally refers to replacing outdated vehicle components with more contemporary ones. It is faster and much more cost-effective. It is also a sustainable practice in the military industry.

Some of the Key Market Players:
  • BAE Systems plc
  • Curtiss-Wright Corporation
  • General Dynamics Corporation
  • L3Harris Technologies, Inc.
  • Leonardo S.p.A
  • Lockheed Martin Corporation
  • Raytheon Technologies Corporation
  • Rheinmetall AG
  • Saab Ab
  • Thales Group

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 5 Billion
Market size value in 2032 USD 8.14 Billion
CAGR (2023 to 2032) 5%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, the Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments System, Platform Type and Fit

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global military vetronics market was valued at USD 5 billion in 2022 to USD 8.14 billion by 2032.

Global military vetronics market is growing at a CAGR of 5% during the forecast period 2023-2032.

The market's growth will be influenced by the increasing defence expenditure.

The high costs of development could hamper the market growth.

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This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global military vetronics market based on below mentioned segments:

Global Military Vetronics Market by System:

  • Weapon and Control Systems
  • Navigations and Display
  • Power System
  • Command and Communication
  • Sensor and Optronics
  • Others

Global Military Vetronics Market by Platform Type:

  • Unmanned Ground Vehicles
  • Light Protected Vehicles
  • Special Purpose Vehicles
  • Main Battle Tanks
  • Light Protected Vehicles
  • Amphibious Vehicles
  • Others

Global Military Vetronics Market by Fit:

  • Line Fit
  • Retro Fit

Global Military Vetronics Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


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