The Defense Navigation Global Market Report 2023, provides comprehensive information on the defense navigation market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Defense Navigation Global Market Report 2023, the global defense navigation market size is expected to grow from $217.58 billion in 2022 to $251.51 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global defense navigation market size is expected to reach $434.07 billion in 2027 at a CAGR of 14.6%.
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The development of innovative navigation systems is a key trend gaining popularity in the defense navigation market. Companies operating in the defense navigation market are focusing on the development of innovative navigation systems, to sustain their position in the market. For instance, in September 2022, AeroVironment, a US-based defense manufacturing company, specializing in unmanned aerial vehicles, unveiled a new virtual navigation system for two of its own ‘Puma’ drones, to provide operators an “unprecedented advantage” in GPS-contested areas. The next-generation navigation system has sensors that scan southward to gather visualization data and detect ground characteristics, enabling it to identify the aircraft’s exact location while it is in flight. Additionally, a new feature enables the system to switch by itself between GPS-denied navigation mode and normal navigation manner without user input.
The defense navigation market is segmented:
1) By Platform Type: Airborne Platform, Naval Platform, Land Platform
2) By Technology: Fiber Optic Gyro Navigation System, Ring Laser Gyro Navigation System, Mechanical Navigation System, Hemispherical Resonator Gyro Navigation System, Micromechanical Systems-Based Navigation System, Other Technologies
3) By Application: Ship, Boat, Autonomous Underwater Vehicle, Remotely Operated Underwater Vehicle
North America was the largest region in the defense navigation market in 2022.
The table of contents in TBRC’s defense navigation market report includes:
- Executive Summary
- Defense Navigation Market Characteristics
- Defense Navigation Market Trends And Strategies
- Defense Navigation Market – Macro Economic Scenario
- Defense Navigation Market Size And Growth
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- Defense Navigation Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Defense Navigation Market
- Defense Navigation Market Future Outlook and Potential Analysis
- Appendix
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