Global Military Navigation Market is valued USD 8.1 billion in 2017 is anticipated to grow USD 13.4 billion with the compounded annual growth of 6.50% over the forecast period 2018-2025.
New York 16 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Military Navigation Market industry is poised to raise USD 3.1 billion by 2025.
Increasing preference for the use of UAVs in modern warfare and rising demand for missiles and artillery systems due to geopolitical instabilities and changing nature of warfare are the key factors expected to drive the military navigation market during the forecast period. The market has been segmented based on platform, application, component, grade, and region. North America, Europe, Asia Pacific, and Rest of the World have been considered in the regional analysis of the military navigation market. Europe is estimated to lead the military navigation market in 2018. The decline in defense budgets of developed countries, such as Sweden, Switzerland, Finland, Belgium, and Canada, has affected the demand for these systems, which, in turn, acts a restraint to the growth of the military navigation market.
To view the summary or to request a sample copy of this report, please click the link mentioned below:
Global Military Navigation Market Size study, by Platform (Aviation, Ammunition, Marine, Ground, Space, Unmanned Voice), by Application, by Component (Hardware, Software, Service), by Grade and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players Cobham, Esterline Technologies, Garmin, Ge Aviation, Honeywell International, KVH Industries, L3 Technologies, Moog, Raytheon, Rockwell Collins, Thales and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Europe is estimated to lead the military navigation market in 2018.
- The decline in the procurement of defence equipment due to limited defence funding is acting as a key restraint to the growth of the military navigation market.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Unmanned Vehicle
- Command & Control
- Intelligence, Surveillance & Reconnaissance
- Combat & Security
- Targeting & Guidance
- Search & Rescue
- Navigation Grade
- Tactical Grade
- Space Grade
- Marine Grade
- North America
- Asia Pacific
- Latin America
- Rest of the World