The market for command and communications systems, sensors, computer and power systems and related electronics for vehicles is more than $3B. (Claire Heininger/U.S. Army)
The global vehicle electronics market is worth more than $3.3 billion, according to a new study by ASDReports.
The valuation was based on several areas of vehicle electronics, including command and communications systems, sensors, remote weapons stations, computer and power systems, and vehicle protection equipment.
“Our research has indicated that spending on military land vehicle electronics is likely to peak in 2014, with a major contraction in market value expected to hit in 2015, as spending on US vehicles returning from Afghanistan ends," said the report. "The following years will see some volatility in the market, but we nonetheless expect global spending on vetronics [vehicle electronics] to see a solid upward trend over the next ten years.”