Market Research Report
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
|Published by||MarketsandMarkets||Product code||655477|
|Published||Content info||156 Pages
Delivery time: 1-2 business days
|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|
|Published: June 19, 2018||Content info: 156 Pages||
"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 due to the increase in demand for military navigation systems for missiles and rockets from militaries. For instance, Hydra-70 rockets can be fired from a variety of rotary and fixed-wing platforms, including the US Army's Apache, the US Marine Corps' Cobra attack helicopters, and F-16s.
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.
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.
Break-up of profile of primary participants for this report:
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 in-depth market intelligence regarding market dynamics and major factors influencing the growth of the military navigation market (drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the military navigation market.
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, high-growth regions and countries, and their respective regulatory policies, drivers, restraints, and opportunities.
The military navigation market report provides insights on the following pointers:
*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies