Military Navigation Market
Military Navigation market was valued at USD 3.7 Billion in 2030 is estimated to register a CAGR of over 6.75% 2023-2032.
Military Navigation Market includes the capability to read maps, use a compass, and other navigational skills. It is also used to track the movements of groups in search operations and save injured soldiers, with a significant reduction of response time. Navigation systems are used for many military applications, such as land, air, and sea navigation and accurate positioning for a wide range of military applications.
The South China Sea dispute, the Afghanistan war, the India-Pakistan dispute, the North Korea issue, Iran's nuclear program, and the Syrian crisis are only a few of the continuing conflicts. In the coming years, the growth in the frequency of wars is likely to drive up demand for rockets and missiles. Countries with advanced missile defense capabilities can protect themselves against rocket and missile assaults. For example, Israel's Iron Dome air defense system has successfully intercepted over 1,000 rockets and mortar assaults to date. As a result of increased urban warfare in many regions of the world, rocket and missile weapons with precise striking capabilities and little collateral damage have been developed. As a result, the changing character of certain nations' wars has led in an increase in demand for improved rockets and missiles from militaries all over the world, which is projected to boost the military navigation market directly.
COVID-19 Impact Analysis
The economic impact of the COVID-19 pandemic is mostly due to a drop in demand, which means that fewer people are ready to buy the commodities and services that are available in the global economy. This dynamic was readily visible in businesses that were highly impacted, such as travel and tourism. Countries have imposed travel restrictions to slow the spread of the virus, and many people have been unable to book flights for vacations or business trips. Airlines lost expected revenue due to the decrease in customer demand, and as a result, they had to cut costs by lowering the number of flights they performed.
Competitive Landscape
MRFR recognizes the following companies as the key Military Navigation Market Players: Cobham Plc (UK), Hertz Systems (Poland), Garmin Ltd (US), Elbit Systems Ltd (Israel), Honeywell International Inc. (US), Israel Aerospace Industries (Israel), KVH Industries, Inc.(US), Parker Hannifin Corporation (US), L3Harris Technologies, Inc. (US), Moog Inc.(US), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Safran (France), Thales Group (France), and Trimble Inc.(US).
Segment Analysis
The global Military Navigation Market has been segmented on type, application, platform, grade, technology, and region.
The global Military Navigation market, based on type, has been segmented into hardware, software, and services. The hardware segment is bifurcated into GPS Receiver, Anti-Jamming Devices, Internal Navigation System, Sonar, Personal Navigation System, Sense and Avoid System (SAS), Thrust Vector Control, Radar, Radar Altimeter, and AIS Receiver.
The global Military Navigation market, based on application, has been segmented into Command and Control, Intelligence, Surveillance & Reconnaissance, Targeting and Guidance, and Search and Rescue
Based on the platform the market has been bifurcated into Aviation, Marine, Ground, and Space.
On the basis of grade, the market has been segmented into Navigation Grade, Tactical Grade, Space Grade, and Marine Grade.
The global Military Navigation market, based on technology, has been segmented into GPS and Non-GPS
Key Findings of the Study:
The global Military Navigation market is projected to grow with a CAGR of around 6.75% during the forecast period.
North America accounted for the largest market share in 2021. As a result of the region's governments' significant investments in national security, aerospace and defense, and other areas. Based on country, the United States has the greatest market share in the region, followed by Canada and Mexico. Furthermore, following the 9/11 attacks, the US government boosted its security, resulting in an increase in the demand for military navigation in the country.
Europe is expected to be the second-largest market in 2021. The presence of significant market participants like as Safran (France), Cobham (UK), Garmin (Switzerland), and Thales (France), as well as a considerable number of military missile deliveries in this region, have aided the expansion of the European military navigation market.
US is among the top contributors in the market.
Introduction of new generation air missiles defence system is the key opportunities in this market.
Military Navigation Market: Information by type (Hardware {GPS Receiver, Anti-Jamming Devices, Internal Navigation System, Sonar, Personal Navigation System, Sense and Avoid System (SAS), Thrust Vector Control, Radar, Radar Altimeter, and AIS Receiver }, Service and Software), by Application (Command and Control, Intelligence, Surveillance & Reconnaissance, Targeting and Guidance and Search and Rescue), by Platform (Aviation, Marine, Ground, and Space), by Grade (Navigation Grade, Tactical Grade, Space Grade, and Marine Grade), by Technology (GPS and Non-GPS)
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