Market research: Vetronics market to reach $3.13 billion in global revenue during 2018
LONDON. A recent study by business intelligence provider Visiongain, "Military Land Vehicle Electronics (Vetronics) Market Report 2018-2028," finds that the global military vehicle electronics (vetronics) market will generate revenues of $3.31 billion in 2018.
Trends of the vetronics market, according to the analysts, depend on the threats of the moment, military capabilities, the condition of vehicle fleets, and available budget. The study found that the market is marked by two basic trends: Modernization of existing fleets and the demand for modular vetronics.
The study revealed that military forces around the globe are looking to expand their use of vetronics and want to acquire such technologies as battle-management systems, command/control/communications systems, weapons-control systems, and updated IED jammers.
For additional information on the market study, visit the Visiongain website.