EverFocus recently won a large bid on a national defense transportation contract that is worth more than NT$2 million, reflecting the market's recognition and trust in the quality of the company.
The global military truck market is forecast to reach more than $27 billion by 2026, up from $23 billion in 2019, according to a recent study by market analyst firm Global Market Insights. As tensions rise between various global militaries, governments are planning to replace existing equipment, purchase more advanced equipment and vehicles, and prepare for potential cross-border conflicts—which is expected to further stimulate the growth of the market.
In the third quarter of 2020, EverFocus—under the leadership of Tony Chang, senior manager for the Asia-Pacific region—won a large bid on a national defense transportation contract that is worth more than NT$2 million, reflecting the market’s recognition and trust in the quality of EverFocus.
EverFocus Electronics has been cultivating the in-vehicle equipment market for more 10 years, making it one of the company’s most successful products. In recent years, EverFocus has transformed into an industrial computer manufacturer, combining the past in-vehicle systems and security image analysis technology to create a complete, high quality product line, launching multiple vertical application market solutions such as smart transportation.
As a pioneer of the MIT (Made in Taiwan) national team, EverFocus Electronics has also released driving assistance system solutions that meet the specifications of the automotive industry, putting EverFocus firmly on top of the domestic automotive system industry.
Experts Remain Optimistic on Long-term Growth of Defense Transportation Market
Because of the COVID-19 pandemic, governments around the world had mostly redistributed budgets from the defense sector to the healthcare sector to curb the spread of the virus. This has caused a negative growth within the military transportation market in 2020 as governments continue to invest in resources for economic recovery. However, most experts are still optimistic that the defense transportation market will resume growth as the impact of the pandemic diminishes.
Technological innovations and advancements in the integration of satellite navigation, automatic transmission systems and radio communication in military transportation have also brought positive prospects to the market. In addition, considering the harsh conditions of wartime, it is increasingly important that troops and cargo can be transported to the required locations smoothly and efficiently, which also promotes the growth of the value of the defense transportation market.
Unlimited Market Potential
The Global Market Insights report also shows that the military transportation market in the Asia-Pacific region will reach another rapid growth. With local conflicts and tensions building between nations, many countries including China, South Korea, and India are steadily increasing defense expenditures while cooperating with border and domestic manufacturers. The demand for cooperation and manufacturing continues to grow, promoting the development of the Middle East and African markets.
Steve Hsu, senior consultant at EverFocus, said the market is investing in the development of new products integrated with front-end technology to meet the growing needs of the national defense sector. EverFocus’ in-vehicle system products include front-end vehicle camera lenses to driving assistance devices and AI-powered edge computing industrial computer—creating a one-stop supply chain for partners to freely carry their own software or integrate with the central control system developed by EverFocus to create a comprehensive safety transportation network.