Potential Impact of COVID-19 on Military Land Vehicle Electronics Market

  • Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.
  • The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period.

Key Drivers of the Military Land Vehicle Electronics Market

  • Significant demand for military land vehicle electronics is expected to drive the growth of the market across the world, due to rising population who need increased land protection.
  • Rising demand for new sighting devices, infrared cameras, and thermal imaging systems is expected to contribute significantly to the growth of the global military land vehicle electronics market.

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  • Increasing complexities in war techniques has resulted in bigger requirement for Intelligence, Surveillance and Reconnaissance (ISR) activities, which is expected to drive the military land vehicle electronics market.
  • Increasing research and development investment for Intelligence, Surveillance and Reconnaissance (ISR) systems, such as infrared vision systems, thermal sights, and laser target designators across developed and developing countries is expected to accelerate the growth of the military land vehicle electronics market.

Restraints of the Military Land Vehicle Electronics Market

  • High cost of military land vehicle electronics and their maintenance is one of the negative factors that can restrain the growth of the military land vehicle electronics market.
  • The new trend in developed countries to produce their own defense equipment is also an issue hampering the import of vehicles from other countries. This can adversely impact the global military land vehicle electronics market.

North America to Hold Major Share of the Global Military Land Vehicle Electronics Market during the Forecast Period

  • North America is expected to hold significant share of the military land vehicle electronics market over the forecast period. In Addition to it, the U.S. is mostly maintaining and upgrading its existing military fleets rather than replacing them with new ones.

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  • Europe is projected to hold substantial share in the global military land vehicle electronics market during the forecast period owing to increased investment in research and development for the growth of advanced military land vehicle electronics.
  • The military land vehicle electronics market is likely to grow at a significant rate in Asia Pacific during the forecast period due to rising terrorist attacks across the region.

Global Military Land Vehicle Electronics Market –Competitive Landscape

Key Players Operating in the Global Market

The global military land vehicle electronics market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. A few of the key players operating in the global military land vehicle electronics market are listed below:

  • Bharat Electronics Limited (BEL)
  • General Electric
  • Gresham Power Electronics Limited
  • Kalyani Strategic Systems Ltd.
  • Kongsberg
  • Leonardo DRS, Inc.
  • Mahindra Emirates Vehicle Armouring