Global Military Navigation Market to Garner USD 3.7 BN by 2032, with 6.75% CAGR from 2023 to 2032
Research Reports
Nov 16, 2023
Military Navigation Market Overview
The global military navigation market is likely to demonstrate continual revenue growth. The rising demand for advanced surveillance & navigation systems in military combat operations would drive the market growth. Market Research Future (MRFR) confirms that the global military navigation market value is projected to escalate from USD 2.1 BN in 2022 to USD 3.7 BN by 2032, growing at a 6.75% CAGR during the review period (2023-2032).
Besides, increasing demand for enhanced border security and defense modernization programs boosts the military navigation market size. Increased demand from armed forces and rising defense budgets accelerate the military navigation market shares to further heights. Moreover, the changing nature of warfare and geopolitical instability are key market drivers.
Navigation systems have emerged as a decisive factor for military success, providing unparalleled navigation and timing capabilities. Despite their different technical specifications, like frequencies and orbits, these systems play an essential role in modern warfare, allowing for greater positional accuracy. Increasing adoption of innovative navigation technologies in defense pushes the market growth further.
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Military Navigation Market – Competitive Landscape
The highly competitive military navigation market appears well-established with a range of futuristic products. The market looks fragmented due to the presence of several notable players. Product launches and technology updates are the latest trends in the market. Mergers & acquisitions, collaborations, and expansion remain key strategies for these players to acquire a larger competitive share.
Key Players
Leading military navigation market players include Esterline Technologies (US), Cobham Limited (UK), Garmin Ltd. (Switzerland), Honeywell International Inc. (US), GE Aviation (US), IAI (Israel), Parker Hannifin Corp (US), KVH Industries Inc. (US), L3Harris Technologies Inc. (US), and Moog Inc. (US), among others.
Military Navigation Market – Segmentation
The market is segmented into components, applications, platforms, grades, and regions. The component segment is sub-segmented into software/solutions, hardware, and services. The application segment is sub-segmented into command & control, intelligence surveillance & reconnaissance (ISR), combat & security, targeting & guidance, and search & rescue (SAR).
The platform segment is sub-segmented into aviation, marine, ground, and space. The grade segment is sub-segmented into navigation grade, tactical grade, space grade, and marine grade. By regions, the military navigation market is segmented into the Americas, Europe, Asia-Pacific, and the rest of the world.
Global Military Navigation Industry – Regional Analysis
North America dominates the global military navigation market. Significant investments by governments in national security, aerospace & defense, and space substantiate the military navigation market size. Besides, the increasing demand for navigation systems in defense applications and high R&D investments boost the military navigation market revenues. The United States accounts for the greatest share of the regional market, followed by Canada and Mexico.
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Industry/ Innovation/ Related News
April 17, 2023 — TRX Systems Inc. announced receiving a $402.5 MN seven-year contract from the U.S. Army to supply handheld positioning, navigation, and timing (PNT) devices, enabling infantry soldiers to fight without needing GPS signals. DAPS is replacing the legacy Defense Advanced GPS Receiver (DAGR) for infantry soldiers operating where GPS signals may not be available or are limited, or denied.
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