Global Military Navigation Market size is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. Military navigation is a process which focuses on the process of tracking, monitoring and controlling the movement of an aircraft or vehicle from one place to another. The field of navigation consists of four general categories including marine navigation, land navigation, aeronautic navigation, and space navigation. These systems offer the real-time traffic status, compass function, color-coded location markers for easier identification, location sharing options, dynamic map to bearing orientation, display direction and distance between 2 locations, position formats include Latitude/Longitude, UTM (WGS84), UPS, Malayan RSO and many more.
The increasing acceptance of UAVs in civil & defense applications, integration of navigation equipment with aircraft, ships, unmanned systems, missiles, and rockets are boosting the growth of the global military navigation market. Moreover, changing nature of war and rising inclination towards the use of UAVs due to geopolitical uncertainties in advanced military systems are also expected to fuel the growth of the market. However, declination in the defense navigation equipment procurement due to limited defense funding may hinder the growth of the market. Furthermore, ongoing research & development and opportunities among various industries from emerging economies would provide growth in the upcoming years.
The global military navigation market is segmented based on the 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.
The global military navigation market by geography 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.
Major companies operating in the global military navigation market are Cobham, Esterline Technologies, Garmin, Ge Aviation, Honeywell International, Israel Aerospace Industries, KVH Industries, Lord Microstrain, L3 Technologies and Moog others.
The key takeaways from the report
Scope of Military Navigation Market