World land vehicle electronics market sees strong investment from US driving growth in the sector
Military Land Vehicle Electronics (Vetronics) Market 2014-2024 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-19 00:09:01
The desire to increase the levels of information exchange possible between mounted ground troops and air assets and by efforts to increase solders´ protection from asymmetric threats such as IED and RPG attack has driven increases in the amount of electronics carried by military land vehicles. By the end of 2014, the World land vehicle electronics market is forecast to be worth US$3.3 billion.Prior to the invasion of Afghanistan in 2001, the land vehicle electronics market was especially small although the experience of long troop deployment abroad has seen the military land vehicle electronics market expand extensively. The investment from the United States defence budget has widely driven growth in this market.The United States has reported a decline in overall defence expenditure during 2013 due to fiscal budget constraints. It is estimated that approximately half of electrics and electronics expenditure in the United States defence market is sourced from the Air Force and Army.The US Navy accounts for approximately 40% of all electronics and electrics expenditure in the US.
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