Global Military Navigation Market is Estimated to Reach $13.5 Billion by 2025, Says Accurize Market Research
Global Military Navigation Market report published by Accurize Market Research forecast that the global market is expected to reach $13.5 billion by 2025; growing at a CAGR of 6.3% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing acceptance of UAVs in civil & defense applications, and integration of navigation equipment with aircraft to drive the growth of the market
Increasing acceptance of UAVs in civil & defense applications, integration of navigation equipment with aircraft, ships, unmanned systems, missiles, and rocketsfuelsthe demand for the global military navigation market.Furthermore,changing nature of war and rising inclination towards the use of UAVs due to geopolitical uncertainties in advanced military systemsalso boosts the growth of the market.
The global military navigation market has been bifurcated on the basis of platform, application, component, grade, and geography. Platform segment can be further segmented into aviation, ammunition, marine, ground, space, and unmanned vehicle. The application segment is further divided into command & control, surveillance & reconnaissance, combat & security, search & rescue, and targeting & guidance segment. Component segment can be bifurcated into hardware, software, and service. Furthermore, grade segment includes navigation grade, tactical grade, marine grade, space grade.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Germany, France, Russia, Italy, and others. Asia-Pacific covers China, India, Japan, and others. RoW covers South America, Middle East and Africa.
Top players in the market
The key market players include Cobham, Esterline Technologies, Garmin, Ge Aviation, Honeywell International, Israel Aerospace Industries, KVH Industries, Lord Microstrain, L3 Technologies and Moog, among others.
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