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Contracts is the Key Strategy Adopted by Industry Players to Achieve Growth in the Vetronics Market
The report profiles key players in the vetronics market, such as Thales Group (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden), General Dynamics Corporation (U.S.), Curtiss Wright Corporation (U.S.), Elbit Systems (Israel), Leonardo-Finmeccanica SPA (Italy), Harris Corporation (U.S.), Rheinmetall AG (Germany), BAE Systems (U.K.), among others. These companies account for a major share of the vetronics market. They have manufacturing facilities in key regions, such as North America and Europe, with a strong distribution network. They adopted various growth strategies, such as contracts, partnerships, agreements, and new product launches to capture the majority share of the vetronics market.
Companies have adopted these strategies to supply advanced products and services to customers and to strengthen their product portfolio. Thales Group (U.S.), Raytheon Company (U.S.), Lockheed Martin Corporation (U.S.), SAAB Group (Sweden), General Dynamics Corporation (U.S.), are some of the leading companies that have adopted these strategies to enhance their businesses.
On March 2016, Thales Group received a contract worth USD 10.3 million from the U.S. Defense Logistics Agency to supply AN/PRC-148 hand-held military radio and adapters to be installed in land vehicles. Radio offers 30-512 MHz frequency range, complies with Software Communications Architecture (SCA), and hosts military’s most important core waveforms.
In November 2015, the U.S. Army awarded a contract to Lockheed Martin Corporation to deliver seven Q-53 systems valued at USD 85 million. Q-53 ensures safety of troops from persistent insurgent attacks. With the help of Q-53 ground-based radars, soldiers can rapidly deploy truck-mounted Q-53 and quickly determine the source of enemy fire.
On July 2016, the company received a contract worth USD 1.1 million from the U.S. Army Research Laboratory (ARL) to develop Scalable, Agile, Multimode, Front End Technology (SAMFET) for the Armys Next Generation Radar (NGR) program. As part of a 24-month cooperative research agreement within ARLs Advanced RF Technologies program, Raytheon worked with ARL to create and demonstrate modular building blocks that can be easily integrated with next-generation radar systems.
On May 2016, General Dynamics European Land Systems and Airbus Defense and Space (U.S.) received a contract from Airbus (U.S.) to load PIRANHA 5 8x8 Armored Personal Carrier (APC) into an Airbus A400M cargo aircraft. The PIRANHA 5 is one of the most advanced and capable 8x8 wheeled armored vehicle and a top variant of the PIRANHA vehicle family. In addition to its high level of protection, the PIRANHA 5 has a flexible and spacious crew compartment and tremendous payload.
Vetronics Market by Application (Defense and Homeland Security), Vehicle Type (Main Battle Tank, Light Protected Vehicle, Amphibious Armored Vehicle), Subsystem (Communication, Navigation, C3 Systems, Power Systems) - Global Forecasts to 2021
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