Nov 5, 2022   SOURCE: BusinessWire

Europe Vetronics Market 2022-2028: Ongoing Military Modernization of Land-Based Vehicle Inventory Drives Growth - ResearchAndMarkets.com

The "Europe Vetronics Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

MARKET OUTLOOK

As per the research report by the publisher, the Europe vetronics market is expected to project a CAGR of 5.67% during the forecast period 2022-2028. Countries such as Spain, France, Poland, Germany, Italy, United Kingdom, Greece, and Rest of Europe are considered in the market in this region.

In Germany, BAAINBw awarded a contract to General Dynamics European Land Systems in 2020 to provide 80 highly protected EAGLE 6x6 vehicles. These vehicles had the most recent integrated electronics for the German army's ambulance corps. Initial car deliveries were started in 2021 and would continue through 2024. Additionally, the 'mittleres geschutztes Ambulanzfahrzeug' initiative, which would fill the gap between the user's fleet of light and heavy ambulance vehicles, resulted in the selection of the EAGLE after a competitive tender process. The integration of technology in the country's armed vehicles along with addition of new vehicles drive the country's market growth.

The Polish Armed Forces intend to drastically expand their operational and combat capabilities by installing new weapon systems and modernizing those already in use. Over the past few years, the country's armed forces have prioritized modernizing their fleet of 142 LEOPARD 2A4 Main Battle Tanks (MBTs) to 2PL requirements. Additionally, a coalition has been created by ZM Bumar-Abdy and several other companies to manage the project. German firm Rheinmetall Landsysteme is a strategic partner in this coalition project. Such expansions will help strengthen the nation's security in an increasingly hostile international situation, thereby boosting the country's market growth.

Market Dynamics

Market Drivers

  • Open Architecture of Vetronics Systems
  • Ongoing Military Modernization of Land-Based Vehicle Inventory
  • Advancements in Battlefield Technology

Market Challenges

  • Cut-Offs in Defense Budget
  • Rising Cost of Raw Materials
  • Usability Regulations

Market Opportunity

  • Investments in Research & Development

     

     

Key Topics Covered:

1. Europe Vetronics Market - Summary

2. Industry Outlook

3. Europe Vetronics Market Outlook - Land-Based Fleet Type

4. Europe Vetronics Market Outlook - by Component

5. Europe Vetronics Market Outlook - by Vertical

6. Europe Vetronics Market - Country Outlook

7. Competitive Landscape

8. Research Methodology & Scope

Companies Mentioned

  • Curtiss-Wright
  • Bae Systems
  • Thales Group
  • General Dynamics Corporation
  • Lockheed Martin Corporation
  • Rheinmetall AG
  • Raytheon Technologies
  • L3Harris Technologies
  • Saab Ab
  • Leonardo S.P.A

For more information about this report visit https://www.researchandmarkets.com/r/xsprlk