New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Defense Navigation Global Market Report 2023" - https://www.reportlinker.com/p06479829/?utm_source=GNW
, Israel Aerospace Industries, Icom America Inc., Kongsberg Grippe, L3 Technologies Inc., KVH Industries Inc., Moog Inc., and Northrop Grumman Corporation.
The global defense navigation market 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 defense navigation market is expected to reach $434.07 billion in 2027 at a CAGR of 14.6%.
The defense navigation market consists of revenues earned by entities by providing force navigation, signal jamming, and remotely operated vehicle navigation services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The defense navigation market also includes sales of navigation displays and related equipment used in providing navigation services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Defense navigation refers to satellite navigation, which is employed in military operations to help soldiers find their way in hostile territory as well as in night-time missions. It is used to determine the precise positioning of their troops, the relative positions of the adversary’s forces, and the locations of the latter’s infrastructure or installations.
North America was the largest region in the defense navigation market in 2022. The regions covered in the defense navigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main platforms of defense navigation are airborne, naval, and land.Airborne platforms include aircraft, high-altitude airplanes, free-falling balloons, flying machines, UAS (unmanned aerial systems), and these platforms can range from low-flying, slow-moving aircraft that hover around 30,000 feet to swift-moving platforms.
Defense navigation is used in airborne platforms to locate and follow targets and airborne obstacles. The technologies adopted by defense navigation include fiber optic gyro navigation, ring laser gyro navigation, mechanical navigation, hemispherical resonator gyro navigation, micromechanical systems-based navigation, and others that are applied in ships, boats, autonomous underwater vehicles, and remotely operated underwater vehicles.
Growing demand for new aircraft is expected to propel the growth of the defense navigation market going forward.An aircraft refers to a machine that is designed to be able to fly through the air, and developed for various purposes including the transport of passengers and to be used in defense and combat operations.
Navigation enables aircraft to navigate user-preferred paths from waypoint one to another, even in circumstances when waypoints are independent of ground infrastructure.Hence the market for defense navigation is anticipated to develop as a result of rising demand for new aircraft.
For instance, in April 2022, according to the data imparted in the Defense Budget Overview Report 2023, published by the United States Department of Defense, a US-based branch in the executive arm of the US federal government, officials planned to increase the quantity of aircraft F-15EX Eagle II, from 12 to 24 in 2023, as compared to the previous year. Therefore, the growing demand for new aircraft is driving the growth of the defense navigation market.
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.
In July 2020, BAE Systems, a UK-based, defense manufacturing and aerospace company, acquired the Military Global Positioning System (GPS) business of Collin Aerospace, for $1.9 billion. With the addition of cutting-edge GPS anti-jamming and anti-spoofing technology, this deal enables BAE to acquire a superior, tech-based company that enhances its current Electronic Systems portfolio and provides dependable navigation and guidance technology. Collins Aerospace is a US-based technology company, engaged in the manufacturing of aerospace and defense products.
The countries covered in the defense navigation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The defense navigation market research report is one of a series of new reports that provides defense navigation market statistics, including defense navigation industry global market size, regional shares, competitors with a defense navigation market share, detailed defense navigation market segments, market trends and opportunities, and any further data you may need to thrive in the defense navigation industry. This defense navigation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479829/?utm_source=GNW
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