A new report byÂ VisiongainÂ indicates a slowdown in defense spending on military land vehicle electronics over the next yearÂ 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 thatÂ modernization programs in Australia and France will help the market reach a value of $2.87 billion in 2015.
The report stated thatÂ submarkets onÂ sensors and C3 technologies and computer, power and control systems will experience growth.
Meanwhile, spending on vehicle protection systems and remote weapon stations willÂ remainÂ stable but pick up beyondÂ 2017.
Visiongain said its report includes an analysis of the forecastÂ 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