PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326598
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326598
Global Autonomous Navigation Market is valued approximately USD 3.83 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.1% over the forecast period 2023-2030. An autonomous navigation system is a combination of systems that enables vehicles such as drones, robots, cars, boats, and more to independently plan their routes and execute those plans without the need for human intervention. This technology relies on advanced technologies and complex algorithms to analyse the surrounding environment and make informed decisions accordingly. The growth of the autonomous navigation market is fuelled by several factors, including the growing demand for sense and avoid systems in autonomous technology, the increasing adoption of autonomous robots in commercial and military applications, and the rising need for real-time data in military operations.
Moreover, the rising adoption of unmanned vehicles in military and defence sectors is anticipated to create the lucrative demand for the autonomous navigation systems which is widely used in unmanned vehicles and support the market growth. For instance, Elbit Systems Ltd. secured a USD 300 million contract in March 2021. The contract is for the supply of Hermes 900 unmanned aircraft systems to an Asian country. Additionally, in 2020, Elbit Systems introduced the Bluefin-12 autonomous unmanned underwater vehicle with advanced autonomy technology at Defense and Security Equipment International (DSEI). This vehicle utilized embedded intelligence to successfully carry out enduring and high-stakes missions. Additionally, increasing demand for enhanced surveillance, as well as supportive government policies are expected to create ample opportunities for the key players operating in the market. However, privacy & security concerns related to data are stifling market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Autonomous Navigation Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to presence of key industry players, increase in military spendings, growing demand in commercial sectors, and cohesive government initiatives in the region.. Asia Pacific is expected to grow significantly during the forecast period, owing to increasing investments in the automotive and robotics sectors, with initiatives like Digital India by the Indian government further supporting this trend. Companies based in India, China, and Japan are actively working to enhance their capabilities in autonomous cars and unmanned aerial vehicle (UAV) technologies.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable