Global Military Navigation Market to reach USD 13.4 billion by 2025.
Global Military Navigation Market valued approximately USD 8.1 billion in 2017 is anticipated to grow with a healthy growth rate of more than 6.50% over the forecast period 2017-2025.
Military forces worldwide are focused on the integration of navigation equipment with aircraft, ships, unmanned systems, missiles, and rockets, which is expected to drive the military navigation market. The decline in the procurement of defense equipment due to limited defense funding is acting as a key restraint to the growth of the military navigation market. Based on platform, the military navigation market has been segmented into aviation, ammunition, marine, ground, space, and unmanned vehicle. Increasing threats, advancements in technology, and futuristic conflicts have increased the need for navigation products in unmanned aircraft and defense aircraft, among other platforms. Based on application, the military navigation market has been segmented into command & control (C2); intelligence, surveillance & reconnaissance (ISR); combat & security; search & rescue (SAR); and targeting & guidance. ISR systems are designed to process specialized communications and navigation protocols from tactical and national intelligence systems. They provide access to mission critical data without clogging tactical communications networks and dramatically increase situational awareness for operators. Based on component, the market has been segmented into hardware, software, and service. The service segment is expected to witness the highest growth among all due to the upgradation and overhaul services for old fleets of various defense organizations.
The regional analysis of Global Military Navigation Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America, Europe, Asia Pacific, and Rest of the World have been considered in the regional analysis of the military navigation market. Europe is estimated to lead the military navigation market in 2018
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Unmanned Vehicle
- Command & Control
- Intelligence, Surveillance & Reconnaissance
- Combat & Security
- Targeting & Guidance
- Search & Rescue
- Navigation Grade
- Tactical Grade
- Space Grade
- Marine Grade
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Cobham, Esterline Technologies, Garmin, Ge Aviation, Honeywell International, KVH Industries, L3 Technologies, Moog, Raytheon, Rockwell Collins, Thales and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Military Navigation Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers