With the emergence and long-term Impact of COVID-19, the Global Autonomous Navigation Market is to reach USD 13.54 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Autonomous Navigation Market is poised to raise up to USD 13.54 Billion by 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 analyze 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 a lucrative demand for autonomous navigation systems which are widely used in unmanned vehicles and support 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, 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.
Geographically, the global Autonomous Navigation Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the presence of key industry players, an increase in military spending, 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 global Autonomous Navigation Market is highly competitive owing to the presence of several key manufacturers such as Honeywell International, Northrop Grumman Corporation, Moog Inc., Rh Marine, Trimble Inc., Thales Group, Kongsberg Gruppen, L3 Harris Technologies Inc., and others.
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Key findings of the study suggest:
- Global Autonomous Navigation Market is anticipated to grow with a healthy growth rate of more than 17.1% over the forecast period 2023-2030.
- In the Platform segment, Airborne emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growing demand in commercial sectors.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By System:
- Sensing System
- Processing System
- Software System
By Platform:
- Airborne
- Land
- Marine
- Space
- Weapons
By Application:
- Commercial
- Military
- Government
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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