Vehicle Intercom System Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Vehicle Intercom System Market Analysis
The vehicle Intercom System Market is projected to register a CAGR of 7.2% during the forecast period.
Despite the COVID-19 pandemic hitting the global economy severely, the impact of the same is not felt on the global military expenditure, which continued to increase in 2020 and 2021. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure reached a total of USD 2.113 trillion in 2021, increasing by about 0.7% compared to 2020. Such high expenditure indicates the negligible impact of the COVID-19 pandemic on the vehicle intercom system market.
There is a growing emphasis on increasing investments toward integrating advanced technologies like machine learning and artificial intelligence into communication solutions to enhance military communication. This is also expected to propel market growth in the coming years. The military forces need an advanced communication system for real-time information on the battlefield. The forces also require tactical communication between armed forces and military commanders and allies as communication protocols. The growing technology and investment in communication systems will drive the market in the coming year.
Vehicle Intercom System Market Trends
This section covers the major market trends shaping the Vehicle Intercom System Market according to our research experts:
Increasing Investment and Demand of Vehicle Intercom System Will Drive the Market
In recent years, the world has witnessed political disputes, cross-border issues among neighboring countries, and growing warfare situations that lead to an increased focus on enhancing defense capabilities.
Companies are investing in the military communication system, For instance, In July 2021, the Elcom group developed the iVIS (Intelligent Vehicle Intercom System) represents a family of next-generation intercom systems and components for use in military tactical vehicles (both wheeled and tracked). The system provides intercom services between crew members and vehicle radio systems. The iVIS is a comprehensive solution for in-vehicle voice and data communication, tactical network connectivity, and battle management system interoperability.
In the military, communication between two points or crew members is very important on the battlefield, the countries are spending on the military to give the high-end product to the soldiers. For instance, In 2021 world military expenditure surpassed the two trillion US dollar mark for the first time, reaching USD 2113 billion. Global spending in 2021 was 0.7 percent higher than in 2020 and 12 percent higher than in 2012. Such development and investment in communication systems will drive the market in the coming year.
North America is Expected to Lead the Market During the Forecast Period
North America holds the largest market share in vehicle intercom systems, due to the number of active vehicles, patrolling stations, and the active presence in other disputed regions. The United States accounted for 38 percent of world military spending in 2021 i.e. 801 Billion USD in 2021.
Increasing expenditure on the procurement of advanced vehicle intercom systems and rising spending on the defense sector from the Canadian defense forces propel the market growth. In November 2021, the Canadian armed forces (CAF) signed a contract with l3harris technologies for the delivery of more than 1,000 compact team radios and related kits. These devices will improve tactical communications for operators on the battlefield and command headquarters.
United States of America is the largest defense spender on research and development of military equipment, For instance, In October 2022, The united state Army and BAE Systems are working together to identify ways to accelerate production of the new Armored Multi-Purpose Vehicle, which would let the service more quickly replace aging M113 armored troop carriers. which will come with a machine gun, automatic grenade launcher, a remote-controlled weapon system, vehicle intercom system, etc.
Thus, rising technological advancement and an increase in research and development in Vehicle Intercom systems will drive the market across North America.
Vehicle Intercom System Industry Overview
The vehicle Intercom System Market is moderately fragmented. Cobham Plc., Harris Corporation, David Clark, Elbit Systems, and, Thales Group are prominent players in the market. The growth is attributed to the highest defense expenditure, growing focus on improving military communication capabilities, and procurement of next-generation communication devices. The United States is the highest defense spender in the world in 2021 and continuously spend heavily to robust its military communication system. For instance, In June 2022, the United States Department of Defense plans to spend nearly USD 13 billion to develop and acquire military communication satellites over the next five years.
Vehicle Intercom System Market Leaders
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Elbit Systems
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Thales Group
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Cobham Plc
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Harris Corporation
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David Clark Company, Inc.
*Disclaimer: Major Players sorted in no particular order
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Vehicle Intercom System Market News
- In September 2022, The United States Army awarded a contract to Collins Aerospace to deliver AN/PRC-162 ground radios to support its handheld, manpack, and small form fit (HMS) program.
- In August 2022, The Ukrainian military has taken delivery of an initial batch of 50 Kirpi armored vehicles from Turkey. The Kirpi will be equipped with a self-recovery winch, intercom system, shot fire location tracking system, and an automatic fire extinguishing system.
Vehicle Intercom System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Military Vehicles
5.1.2 Commercial Vehicles
5.1.3 Airport Ground Support Vehicles
5.1.4 Emergency Vehicles
5.2 By Component Type
5.2.1 Wired
5.2.2 Wireless
5.3 By Technology
5.3.1 Analog
5.3.2 Digital
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.5 Middle East & Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles*
6.2.1 Cobham Plc.
6.2.2 Harris Corporation
6.2.3 David Clark
6.2.4 Elbit Systems
6.2.5 Thales Group
6.2.6 Sytech Corporation
6.2.7 Teldat
6.2.8 Communications-Applied Technology
6.2.9 Wolf Elec
6.2.10 Aselsan A.S.
6.2.11 Vitavox
6.2.12 Gentex Corporation
6.2.13 Leonardo DRS
6.2.14 MER Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vehicle Intercom System Industry Segmentation
Vehicle intercom systems are the new generation intercom systems used by emergency vehicles such as military vehicles and ambulances. This communication system can be used in high noise, various environmental conditions, and emergency situations providing clear communication without affecting the hearing of end users.
The vehicle intercom system market is segmented by application, by component, by technology, and by geography. By application, the market is segmented into military vehicles, commercial vehicles, airport ground support vehicles, and emergency vehicles. By component, the market is segmented into wired, and wireless. By technology, the market is segmented into analog, and digital. By geography, the market is segmented into north America, Europe, Asia-pacific, Latin America, and the middle east and Africa.
| By Application | |
| Military Vehicles | |
| Commercial Vehicles | |
| Airport Ground Support Vehicles | |
| Emergency Vehicles |
| By Component Type | |
| Wired | |
| Wireless |
| By Technology | |
| Analog | |
| Digital |
| Geography | ||||||||
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Vehicle Intercom System Market Research FAQs
What is the current Vehicle Intercom System Market size?
The Vehicle Intercom System Market is projected to register a CAGR of greater than 7.20% during the forecast period (2024-2029)
Who are the key players in Vehicle Intercom System Market?
Elbit Systems , Thales Group, Cobham Plc, Harris Corporation and David Clark Company, Inc. are the major companies operating in the Vehicle Intercom System Market.
Which is the fastest growing region in Vehicle Intercom System Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vehicle Intercom System Market?
In 2024, the North America accounts for the largest market share in Vehicle Intercom System Market.
What years does this Vehicle Intercom System Market cover?
The report covers the Vehicle Intercom System Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Vehicle Intercom System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vehicle Intercom System Industry Report
Statistics for the 2024 Vehicle Intercom System market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Vehicle Intercom System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
