A new report by Visiongain indicates a slowdown in defense spending on military land vehicle electronics over the next year due to the end of ground troop deployments to Afghanistan and Iraq.
The market will stall in North America and most of Europe, but Visiongain said Tuesday that modernization programs in Australia and France will help the market reach a value of $2.87 billion in 2015.
The report stated that submarkets on sensors and C3 technologies and computer, power and control systems will experience growth.
Meanwhile, spending on vehicle protection systems and remote weapon stations will remain stable but pick up beyond 2017.
Visiongain said its report includes an analysis of the forecast market trajectory through 2025, including the drivers and constraints, sales projections, commercial developments, potential business opportunities and leading national markets.
The report also listed the following key market players:
- BAE Systems
- Bharat Electronics Ltd.
- Diehl’s defense business
- Elbit Systems
- GE’s intelligent platforms business
- General Dynamics
- Kongsberg Gruppen
- Krauss-Maffei Wegmann
- Lockheed Martin
- Oshkosh Corp.
- Palomar Display Products
- Thales Group
- The Nexter Group
- Ultra Electronic Holdings
- Volvo Group