Navigation Systems Market - Latest Market Trends And Industry Forecasts To 2025
According to a new report published by Reports Monitor titled, “ Global Navigation Systems Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global navigation systems market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Navigation Systems are important and powerful tool which has benefits various application fields such as aviation, defense, military, automation and more. Over the years, these navigations have become more efficient, flexible, light-weight, compact and easily portable with added features and services.
The increasing adoption and advancements in mobile and internet technologies is fuelling market growth. Satellite navigation systems such as global positioning systems (GPS) helps improve traffic flow, guides users, keeps track of parcels and more, boosting its demand in the market. The rising developments in the military and aeronautics fields are also influencing market growth. For instance, Rockwell Collins offers a Micro Defence Advanced GPS Receiver (MicroDAGR) which provides dismounted soldiers real-time position, navigation, moving map and timing information on a full-colour touch screen display. It is easy to use and wrist wearable. Other factors driving market growth is the need for real-time tracking and monitoring and accurate positional data, increasing demand for such navigation systems. On the contrary high initial cost and storage limitations may slow down market growth.
The Global Navigation Systems market research report provides key insights on the growth opportunities of this market based on regions, applications and upcoming technologies. It includes detailed analysis of the current market situations such as market size, upcoming developments and investments. Major advancements and key strategies of major companies such as mergers and acquisitions, value chain analysis and swot analysis have also been included in this report. The report has been composed by carrying out in-depth analysis of both primary and secondary data sources.
The global navigations market can be bifurcated on the basis of types and its application area. In terms of types of systems, the market is segmented into marine navigation system, surgical navigation system, inertial navigation system, global positioning system, mobile robot navigation and others. In terms of its application area, the market is divided into marine, aviation, transportation, military and defense and others.
The market in Asia Pacific is rising due to increasing in government investments. For instance, in May 2018, China planned to deploy automated driving system for high speed railways. China Railway Signal and Communication Co (CSRC) have implemented train control systems and intelligent integrated transportation systems based on China’s Beidou Navigation Satellite System. Factors such as upgradation in technology, huge military spending and a high number of manufacturers are influencing market growth in North America. The regions analysed for the navigation systems market are North America, Europe, Asia Pacific (APAC) and Latin America, Middle East and Africa (LAMEA).
The key players operating in this market are: Northrop Grumman, Rockwell Collins, Raytheon Company, Advanced Navigation, Sagem, L3 Communications, Garmin, Moog, SBG Systems, Esterline Technologies and others.
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