Military Navigation Market Share
Global Military Navigation Market is projected to grow at a CAGR of 6.31% during the forecast period from 2020 to 2026. Rapid demand for new generation air and missile defense systems and rising demand for missiles and artillery systems has significantly contributed to the expansion of the military navigation market. Furthermore, increasing investments made by the governments of countries such as the UK in developing advanced anti-jamming technologies is also expected to drive the growth of the market. For example, in March 2020, Chobham Limited signed a contract with the UK Ministry of Defense’s Defense Equipment and Support (DE&S) office to conduct research advanced GNSS anti-jam techniques.
However, issues related to technical and measurement errors in sensors and high cost of development might hamper the growth of the Military Navigation market.
Market USP
Technological advancements in military navigation such as weapons integrated battlefield management systems (WIBBMS), advanced inertial navigation systems, and multi-sensor data fusion are expected to drive the growth of the Military Navigation Market.
Key Players
Chobham Limited (UK),Esterline Technologies (US),Garmin Ltd. (Switzerland),GE Aviation (US),Honeywell International Inc. (US),IAI (Israel),KVH Industries, Inc. (US),Parker Hannifin Corp (US),L3Harris Technologies, Inc. (US),Moog, Inc. (US)
Other Prominent Players
Northrop Grumman Corporation (US),Raytheon Technologies Corporation (US),Safran (France),Thales Group (France),Trimble Inc. (US),Intelsat (US)
Growth Opportunities in the Market
Hardware segment to register the higher growth rate: The hardware segment is expected to register the higher CAGR during the forecast period, 2020 to 2026 owing to rising military expenditure of developed countries such as India and China in developing and procuring advanced navigation systems.
Intelligence, Surveillance & Reconnaissance (ISR) segment is expected to be the fastest growing: The Intelligence, Surveillance & Reconnaissance (ISR) segment is expected to register the highest CAGR during the forecast period, 2020 to 2026. The rising demand for enhanced ISR capabilities by the armed forces with an aim to gain an 360 degree view of the battlefield and gain real-time information about the targets is expected to drive the growth of the segment.
Aviation segment is expected to register the highest CAGR: The aviation segment is expected to grow at the highest CAGR during the forecast period owing to increasing procurement of advanced combat aircraft such as India and China owing to rising territorial conflicts in the region. Furthermore, rising military modernization programs and growing adoption of advanced UAVs for various military applications is also expected to drive the growth of the segment.
Table Of Contents
- Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Military Navigation Market Forecast, By Component
1.1.2. Global Military Navigation Market Forecast, By Application
1.1.3. Global Military Navigation Market Forecast, By Platform
1.1.4. Global Military Navigation Market Forecast, By Grade
1.1.5. Global Military Navigation Market Forecast, By Region
- Market Introduction
2.1. Market Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
- Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
- Market Insights
- Market Dynamics
5.1. Introduction
5.2. Drivers
5.2.1. Changing Nature Of Warfare
5.2.2. Increasing Demand For New Generation Air And Missile Defense Systems
5.2.3. Rising Use Of UAVs By The Defense Forces
5.2.4. Drivers Impact Analysis
5.3. Restraints
5.3.1. Issues Related To Technical And Measurement Errors In Sensors
5.3.2. High Development Cost
5.3.3. Restraints Impact Analysis
5.4. Opportunities
5.5. Market/Technological Trends
5.6. Patent Trends
5.7. Regulatory Landscape/Standards
Global Military Navigation Market Research Report: Information By Component (Hardware and Service), Application (Command & Control, Intelligence, Surveillance & Reconnaissance (ISR), Combat & Security, Targeting & Guidance and Search & Rescue (SAR)), Platform (Aviation, Marine, Ground and Space), Grade (Navigation Grade, Tactical Grade, Space Grade and Marine Grade) and Region (North America, Europe, Asia-Pacific and Rest of the World) — Forecast till 2027 @https://www.marketresearchfuture.com/reports/military-navigation-market-10224
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