ALL >> Business >> View Article
Global Military Navigation Market
Global military navigation market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 6.4% during the forecast period.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Navigation is the method of controlling and monitoring the movement of a particular object. Navigation is categorized into marine navigation, land navigation, space or satellite navigation, and aeronautic navigation.
Military navigation is basically a method of applying satellite navigation system to military missions such as for night missions in the absence of light and for various navigation purposes in enemy territories.
The military navigation market has witnessed a remarkable growth from the past decades. The growing adoption of military navigation system for various military activities such as sea, air, and land navigation to find precise positioning for a broad range of military applications is the major driving factor behind the growth of the market. Increasing trend of miniaturization of components at reasonable prices, a surge in the demand for artillery and missiles systems owing to varying nature of warfare and geopolitical instabilities, rising shift towards the use of UAVs in modern warfare and increasing demand for advanced air and missile defense systems are expected to improve growth of the market during the forecast period.
However, lack of knowledge, privacy concerns and high cost associated with the military navigation equipment are the major restraining factors that could hamper the growth of market.
Global Military Navigation Market: Segmentation Analysis
By component, the hardware segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Hardware segment is further categorized into GPS receiver, anti-jamming device, SONAR, radar and others. Among these, GPS receiver segment is projected to witness fast growth at a CAGR of XX% during the forecast period. Growing government investments and budgets in military and defense sector across the world, rising number of various military operations and growing demand for new generation defense equipment is attributed to the growth of the market.
For instance, MMR study found that, for fiscal year 2020 the US department of defence have allocated military budget of $721.5 Bn. China’s defence budget for 2020 is amounted for US$ 179 Bn and India’s budget is amounted to US$ 65.86 Bn for the same year. These numbers are ultimately indicating the huge growth for military navigation market across the globe.
By application, intelligence, surveillance & reconnaissance (ISR) segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Growing adoption of military navigation system for intelligence and surveillance applications to provide military workforces the accurate position of warfare operations considering situational awareness is impelling the growth of market. However, combat and security segment projected to witness fast growth at CAGR of XX% during the forecast period. Increasing adoption of various military electronics devices, high implementation of perimeter intrusion detection systems and rising concerns regarding safety and security on borders is propelling the growth of the market.
Global Military Navigation Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the high adoption of various military navigation systems across the navy, land and air military sector in the region.
Increasing government spending on defense sector, massive presence of military personnel’s, rapid adoption of GPS navigation system for U.S. military personnel, vehicles, aircraft and vessels and early adoption of advanced navigation system is driving the growth of the market.
The objective of the report is to present a comprehensive analysis of the Global Military Navigation Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Military Navigation Market dynamics, structure by analyzing the market segments and projects the Global Military Navigation Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Military Navigation Market make the report investor’s guide.
The Scope of Global Military Navigation Market
Global Military Navigation Market, By Component
o GPS Receiver
o Inertial Navigation System
o Anti-jamming Device
o Personal Navigation System
o Sense and Avoid System (SAS)
o Thrust Vector Control
o Radar Altimeter
Global Military Navigation Market, By Platform
• Unmanned Vehicle
Global Military Navigation Market, By Grade
• Navigation Grade
• Tactical Grade
• Space Grade
• Marine Grade
Global Military Navigation Market, By Application
• Command & Control
• Intelligence, Surveillance & Reconnaissance (ISR)
• Combat & Security
• Targeting & Guidance
• Search & Rescue (SAR)
Global Military Navigation Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Global Military Navigation Market, Key Players
• Esterline Technologies
• Garmin Ltd
• GE Aviation
• Honeywell International
• Israel Aerospace Industries
• KVH Industries
• LORD MicroStrain
• L3 Technologies
• Northrop Grumman
• Rockwell Collins
• Trimble Navigation
• Safran Electronics & Defense
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
Address : Pune, Maharashtra 411051, India.
Business Articles1. Why Is It Important To Get A Security System Installed In London?
Author: steven glassner
2. 3d Printing & Rapid Prototyping: Are They The Same?
Author: eliyana desuza
3. How To Put A Dog Tag On The Collar?
Author: Misha Konyuk
4. Get The Quality Lip Gloss Packaging At A Cheap Rate
Author: custom boxes plus
5. Vertical Shaft Kiln Vs Rotary Kiln
Author: Neel Rao
6. Global Brugada Syndrome Market
7. Global Canned Coffee Market- Forecast And Analysis
8. Global Encapsulation Resins Market- Forecast And Analysis
9. Why ‘make In India’ Is A Good Social Movement To Support?
Author: Satjit Kumar
10. Advanced Seo Strategies To Drive More Traffic To Your Website
Author: Consult Myriad
11. Top 5 Reasons To Upgrade To Infor Cloudsuite Distribution
Author: NSA COM
12. Hire The Experienced Construction Company To Enjoy These Countless Benefits!
13. How To Spot The Right Civil Contractor For Your Dream Project?
14. Impact Of Covid – 19 On Worker’s Compensation
15. Digital Cameras Buying Suggestions For You
Author: Ainsworth Dickenson