Military Navigation Market Size and Growth Forecast Report 2020


Posted November 3, 2020 by mohammedimtiaz

Military navigation is a system that tracks convoy activities and rescue operations for injured soldiers while significantly reducing response times.
 
Global Military Navigation Market expands with the rising need for UAVs

Market overview:
The global Military Navigation Marketwas worth USD xx billion in 2020, and it is anticipated to reach a valuation of USD xx billion by 2025 at a CAGR of xx% during the outlook period.
Military navigation is a system that tracks convoy activities and rescue operations for injured soldiers while significantly reducing response times. Military navigation applies to a variety of military purposes and is essential especially in the night missions. Military navigation includes the use of compasses, map reading, and other navigational techniques. It is also used in search operations to plan and track group movements, rescue wounded soldiers, and significantly reduce response times. Armies around the world are focused on integrating missiles, unmanned systems, ships, aircraft and rockets, and navigation equipment that are expected to lead the military navigation industry. Increasing demand for high-performance navigation systems for numerous applications in the aviation industry is expected to drive the market during the forecast period.

Recent developments:
• In October 2019, Safran and Defense Australasia signed an agreement to design combat system components for Australia's future submarine program.
• In July 2019, Harris and L3 technologies merged to become a large aerospace and defense company.

Market Drivers and Restrains:
The demand for military navigation systems is increasing to meet the future needs of transport aircraft. The increasing integration of missile and navigation equipment, aircraft, unmanned systems, ships and rockets is one of the key fundamentals driving the global military navigation market. The navigation system is used for a number of military activities, such as air, land, and sea navigation, and enables precise positioning for a wide range of military applications. The increasing demand for missiles and weapon systems and the growing propensity to use UAVs due to geopolitical uncertainty and the changing nature of warfare are driving the market for military navigation around the world.

There is a growing demand for superior performance navigation systems for a variety of applications in the aviation industry that require high precision navigation and orientation. As the adoption of military navigation increased, command and control, weapon targeting, battlefield supply delivery, and unmanned systems targeting were improved. Furthermore, advances in military technology are supposed to create opportunities for players in the military navigation market. However, the high cost of the system may hamper the growth of the global military navigation business. The reduction in the acquisition of defense equipment due to limited financing of defense is playing a key role in the growth of the military navigation industry. Furthermore, deterioration in defense equipment procurement due to defense funding restrictions could hamper the growth of the global military navigation market.

To know more read:
https://www.marketdataforecast.com/market-reports/military-navigation-market

Report is segmented as:
The global military navigation market can be segmented by platform, component, and application.

On the basis of components, the global military navigation market can be divided into hardware, software, and services.

On the basis of the platform, the global military navigation market can be divided into maritime, munitions, aviation, land, unmanned vehicles and space. The space segment is expected to grow at the highest rate during the outlook period.
In terms of application, the global military navigation market can be segmented into intelligent surveillance and reconnaissance, combat and security, command and control, search and rescue and others.

Geographical Segmentation:
North America dominated the global Military Navigation Market in terms of revenue and is expected to show high growth during the outlook period. The presence of key players in the region is an important factor driving the growth of the target market in North America. The European market is supposed to show profitable growth, followed by Asia Pacific, the Middle East and Africa, and Latin America. The European market is estimated to have the second highest share in terms of revenue in the near future. The increasing adoption of advanced technologies in the Asia Pacific region is another factor that is foreseen to witness the growth in the global market during the outlook period.

Key market players:
Key players in the Military Navigation Marketincludes Esterline Technologies Corporation, Cobham PLC, GE Aviation, Safran Electronics and Defense, Garmin Ltd., Israel Aerospace Industries, Honeywell International, L3 Technologies, KVH Industries, Rockwell Collins, Northrop Grumman, and Trimble Navigation.

View sample and decide:
https://www.marketdataforecast.com/market-reports/military-navigation-market/request-sample

Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:
Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

For more information:
Contact Us:
Market Data Forecast
Email: [email protected]
Tel: +1-888-702-9626
Website: https://www.marketdataforecast.com/
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Market Data Forecast
Phone 08887029626
Business Address Market Data Forecast, Inc.2nd Floor, Lakeview Plaza, Kavuri Hills,Hyderabad, Telangana 500033, India.
Country India
Categories Aerospace
Tags military navigation market
Last Updated November 3, 2020