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The military navigation market is projected to grow at a CAGR of 6.36% during the forecast period.
The military navigation market is projected to grow from USD 8.87 billion in 2018 to USD 12.07 billion by 2023, at a CAGR of 6.36% from 2018 to 2023. 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 ammunition segment dominated the military navigation market in 2017
Based on platform, the ammunition segment dominated the military navigation market in 2017 due to the increase in demand for military navigation systems for missiles and rockets from militaries. For instance, Hydra70 rockets can be fired from a variety of rotary and fixedwing platforms, including the US Army's Apache, the US Marine Corps' Cobra attack helicopters, and F16s.
Based on component, the hardware segment dominated the military navigation market in 2017.
Based on component, the hardware segment dominated the military navigation market in 2017. This is attributed to the increasing number of military operations, increasing investments in defense equipment, and increasing government defense budgets across the globe.
Europe is estimated to lead the military navigation market in 2018. Among regions, Europe is estimated to lead the military navigation market in 2018. Countries in this region include the UK, Russia, Germany, France, and Italy, among others. The presence of some of the major market players, such as Safran France, Cobham UK, Garmin Switzerland, and Thales France, and the large number of military missiles deliveries in this region have contributed to the growth of the military navigation market in Europe.
Breakup of profile of primary participants for this report:
By Company Type: Tier 1 35%, Tier 2 45%, Tier 3 20%
By Designation: C Level 35%, Director Level 25%, Others 40%
By Region: North America 45%, Europe 20%, Asia Pacific 30%, RoW 5%
Some of the key players in the military navigation market include L3 Technologies US, Esterline US, GE Aviation US, Honeywell International US, Moog US, Northrop Grumman US, Raytheon US, Rockwell Collins US, Trimble US, KVH Industries US, Safran France, Cobham UK, Garmin Switzerland, Thales France, and IAI Israel, among others.
The study segments the military navigation market based on platform aviation, ammunition, marine, ground, space, unmanned vehicle, application COMMAND CONTROL C2; intelligence, surveillance reconnaissance ISR; combat security, search rescue SAR, targeting guidance, component hardware, software, service and grade navigation grade, tactical grade, marine grade, space grade, and maps these segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and RoW Rest of the World. The report provides indepth market intelligence regarding market dynamics and major factors influencing the growth of the military navigation market drivers, restraints, opportunities, and industryspecific challenges, along with an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the military navigation market.
Reasons to Buy the Report:
From an insight perspective, the military navigation market report focuses on various levels of analysis industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss basic views on competitive landscape, highgrowth regions and countries, and their respective regulatory policies, drivers, restraints, and opportunities.
The military navigation market report provides insights on the following pointers:
Market Penetration: Comprehensive information regarding the competitive landscape of the military navigation market
Market Sizing: Market size in the financial year 20162017 and projection of the market size from 2018 to 2023
Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, and new product launches in the military navigation market
Market Overview: Market dynamics and subsequent analyses of associated trends, drivers, restraints, and opportunities prevailing in the military navigation market
Market Development: Comprehensive information about lucrative markets by analyzing markets for military navigation systems across various regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military navigation market
Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, the Middle East, and Rest of the World
Competitive Assessment: Indepth assessment of strategies, products, and manufacturing capabilities of leading market players
Original Article: Military Navigation Market by Platform Ammunition, Aviation, Ground, Marine, Unmanned Vehicle, Space, Application ISR, C2, Combat Security, Targeting Guidance, SAR, Component Hardware, Software, Service, Grade Region Global Forecast to 2023 [Report UpNEXT ARTICLE