Top Vetronics Companies

Global Vetronics Market size was valued at USD 5.33 Billion in 2024 and is poised to grow from USD 5.72 Billion in 2025 to USD 10.13 Billion by 2033, growing at a CAGR of 7.4% during the forecast period (2026–2033).

​ The vetronics market is a very competitive space where major defense contractors compete through different strategies to increase their share of the market. For example, Rheinmetall AG's acquisition of Loc Performance in 2024 for $950 million will increase the company's manufacturing depth in the United States aimed at securing contracts associated to future vehicle programs from the U.S. Army. This vehicle stuff can be significant, with an estimation of vehicle program contracts exceeding $60 billion. Moreover, BAE Systems has several existing contracts associated with upgrades of M2 Bradley fighting vehicles where vetronics upgrades will ultimately provide advanced smart power management as well as situational awareness systems. Lockheed Martin's use of advances in AI and sensors into vetronics systems will also potentially provide operational capabilities and situational awareness. 'BAE Systems (United Kingdom)', 'Curtiss-Wright Corporation (United States)', 'General Dynamics Corporation (United States)', 'Harris Corporation (United States)', 'Leonardo S.p.A (Italy)', 'Lockheed Martin Corporation (United States)', 'Raytheon Company (United States)', 'Rheinmetall AG (Germany)', 'Saab AB (Sweden)', 'Thales Group (France)', 'L3Harris Technologies Inc. (United States)', 'Elbit Systems Ltd. (Israel)', 'Kongsberg Gruppen ASA (Norway)', 'Oshkosh Corporation (United States)', 'Ultra (United Kingdom)', 'Northrop Grumman Corporation (United States)', 'Honeywell International Inc. (United States)', 'Moog Inc. (United States)', 'QinetiQ Group (United Kingdom)', 'Meggitt (United Kingdom)'

Advanced electronic systems provide greater situational awareness, improvements in communications, better navigation, and effective vehicle mobility which enhances operational efficiency and safety. One factor driving the market is the increased focus on network-centric warfare that requires the integration of the command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) systems. Every day, there is greater adoption of vetronics solutions because the modern battlefield is being digitized, and armed forces are upgrading and replacing the legacy systems. Also, the influx of money into defense budgets along with continuing geopolitical uncertainty is further driving investments of advanced technologies in combat and support vehicles and promoting growth of the vetronics market worldwide.

The contemporary battlefield is reliant on secure, ultra-speed communication networks. Advanced vetronics solutions are being adapted to allow for real time exchange of data and interoperability of platforms.

The Asia-Pacific region is a strong market for vetronics, and is continuing to expand, primarily due to increases in defense spending, and modernization programs that countries are pursuing to modernize their military capabilities. Countries like China, India, Japan and South Korea continue to increase defense spending to secure the defense of their respective nations, especially as tensions grow in regions like the South China Sea. Growing expenditures on defense procurement are leading to a focus on modernizations for military vehicles, such as vetronics command and control, communications, and navigation systems. A good example is India's procurement of 693 armament upgrades to the Infantry Combat Vehicles. On top of modernization for purpose-built military vehicles, the integration of advanced technologies like artificial intelligence and the internet of things (IoT), to upgrade less capable military platforms, is also an emerging trend leading to demands for modern vetronics. Countries can gain better situational awareness and be operationally more efficient in several areas as these technologies apply across all terrains and conditions in the Asia-Pacific region.