Military GPS and GNSS Devices Market is projected to grow at a CAGR of 2.5% by 2033: Visiongain


As per the report by Visiongain, the Military GPS and GNSS Devices Market was valued at US$2,664.4 million in 2022 and is projected to grow at a CAGR of 2.5% during the forecast period 2023-2033. 

Visiongain has published a new report entitled Military GPS and GNSS Devices 2023-2033. It includes profiles of Military GPS and GNSS Devices and Forecasts Market Segment by Device Type (Wearable GPS Trackers, Plug in GPS Trackers, Hardwired GPS Trackers, Battery Operated GPS Trackers, Other Devices), Market Segment by Type (Data Loggers, Data Pushers, Data pullers, Covert GPS trackers), Market Segment by GNSS Receivers Type (Multi-Constellation Receivers, Multi-Frequency Receivers, Augmentation Receivers, Differential GNSS Receivers, Assistance GNSS Receivers, Software Receivers), Market Segment by Category (Land Based GPS/GNSS, Air Based GPS/GNSS, Naval GPS/GNSS) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country. 

Heavy Reliance of the Military Sector on GPS and GNSS Devices 

GPS and GNSS devices have become essential for military operations, providing location, navigation, and timing information to military personnel, vehicles, and weapons systems. The military relies on GPS and GNSS for a wide range of applications, including reconnaissance, surveillance, target acquisition, and communication. As a result, any disruption or failure of GPS or GNSS systems could have serious consequences for military operations. To mitigate this risk, the military has implemented various measures, including developing backup systems and improving jamming and spoofing detection capabilities. However, with the increasing reliance on GPS and GNSS systems in military operations and the growing complexity of military equipment, the demand for more advanced and robust GPS and GNSS devices is likely to continue to grow. This is particularly true as militaries around the world continue to invest in advanced technologies and equipment to maintain their strategic advantage. 

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How has COVID-19 had a Significant Negative Impact on the Military GPS and GNSS Devices Market? 

Overall, the impact of the pandemic on military spending has been mixed, with some countries facing budget constraints and others increasing spending in response to the pandemic. Many countries have been facing budget constraints due to the economic impact of the pandemic, which has led to reductions in military spending. This has resulted in delays or cancellations of planned procurement programs, reductions in personnel and training budgets, and cuts to research and development. The pandemic has also led to an increased demand for military support, including logistics, medical support, and security operations. This has resulted in increased spending in some areas, while others have faced budget cuts. 

How will this Report Benefit you? 

Visiongain’s 360-page report provides 141 tables and 202 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the military GPS and GNSS devices market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for military GPS and GNSS devices. Get financial analysis of the overall market and different segments including device type, type, GNSS receiver type, and category process. We believe that there are strong opportunities in this fast-growing military GPS and GNSS devices market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company. 

What are the Current Market Drivers? 

Increase Military and Defense Spending by Vulnerable Countries 

According to Stockholm International Peace Research Institute, total global military expenditure increased by 0.7% in real terms in 2021, to reach US$2,113 billion. In 2021, the U.S., Russia, China, India, and the UK, accounted for 62% of the global military expenditure. The publication is yet to publish its report for the year 2022. According to the Military Balance, Europe and Asia were the only regions that exhibited defence spending growth in both 2021 and 2022. Several regions managed real growth in 2022, due to one-off surges in single countries rather than a regional trend. Defence spending in Sub-Saharan African returned to real growth as Ethiopia more than quadrupled its defence budget from US$0.38 billion in 2021 to US$1.58 billion in 2022 after the government resumed its conflict with the Tigray People’s Liberation Front. In addition, as militaries around the world increasingly rely on unmanned aerial vehicles (UAVs) for a wide range of operations, there is a growing need for GPS and GNSS devices that are able to provide accurate positioning and navigation information for these devices.  

Increasing Investment in Unmanned Vehicles 

Unmanned systems, such as drones and unmanned ground vehicles, rely heavily on GPS and GNSS devices to navigate and carry out their missions. As the use of unmanned systems in military operations continues to grow, so does the demand for high-precision, reliable GPS and GNSS devices. In the past, unmanned systems were often used for intelligence, surveillance, and reconnaissance missions. However, they are increasingly being used for a wide range of military operations, such as search and rescue, cargo delivery, and even offensive strikes. These systems require accurate positioning information to operate effectively and safely. 

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https://www.visiongain.com/report/military-gps-market-2023/#download_sampe_div

Where are the Market Opportunities? 

Heavy Research & Development Investment in Satellite Navigation Solutions 

Heavy research and development investment in satellite navigation solutions is an important trend in the GPS and GNSS industry. Companies and governments around the world are investing in developing new and improved satellite navigation technologies to meet the growing demand for more accurate, reliable, and secure GPS and GNSS devices. This includes developing new satellite constellations, improving signal processing algorithms, and developing new applications for GPS and GNSS technology. For example, the United States has invested heavily in the development of the GPS III satellite constellation, which is designed to provide more accurate and reliable positioning, navigation, and timing information to military and civilian users. China has developed and is using its own satellite navigation systems BeiDou Navigation Satellite System which is used by approximately 120 countries in the world. Russia also uses their own global navigation satellite system GLONASS. 

Competitive Landscape 

The major players operating in the military GPS and GNSS devices market are AI Convoy (Luxembourg) S.a r.l. (Cobham Limited), BAE Systems plc, Boeing Co, CalAmp Corp, Elbit Systems Ltd., Furuno Electric Co., Ltd., Garmin Ltd., General Dynamics Corporation, Hexagon AB, Juniper Systems Inc., L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, QinetiQ Group plc, Queclink Wireless Solutions Co., Ltd., Raytheon Technologies Corporation, Safran S.A., Thales Group, Topcon Corporation, and Trimble Inc. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. 

Recent Developments 

  • On 10th April 2023, Orolia, a Safran Electronics and Defence company, partnered with Xona Space Systems to develop support for Xona’s low-Earth-orbit (LEO) constellation and navigation signals in its Skydel-powered simulation and testing products. Xona is developing PULSAR – a high-performance positioning, navigation and timing (PNT) service enabled by a commercial constellation of dedicated LEO satellites. 
  • On 3rd April 2023, Elbit Systems was awarded a contract to supply, among others, precision munitions, radio and defence electronics systems as well as maintenance services to a European Country, with a cumulative value of approximately US$280 million. The contract will be performed over a period of three years. 

To access the data contained in this document please email oliver.davison@visiongain.com

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About Visiongain 

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs. 

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