Autonomous Navigation Market - Segments, Emerging Technologies and Industry Growth by Forecast to 2024


Posted November 26, 2019 by Savnipandit

Global Autonomous Navigation Market Research Report—Forecast till 2024
 
Global Autonomous Navigation Market Research Report: Information by Solution (Processing Unit, Sensing System, and Software), Platform (Airborne, Land, Marine, and Space), Application (Military & Government and Commercial) and Region—Forecast till 2024

The global market for autonomous navigation is expected to witness significant growth during the forecast period owing to various factors such as the increasing need for situational awareness and rising demand for enhanced surveillance systems. Furthermore, increasing investments in developing autonomous military robots are also boosting market growth.

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Based on region, the global autonomous navigation market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

In 2018, North America dominated the global market. The presence of advanced infrastructure required for autonomous systems is boosting market growth in the region. The North American market includes the US and Canada.

The US accounted for the majority of the North American autonomous navigation market in 2018 owing to the presence of prominent technology and defense companies such as Honeywell International, Inc. and Northrop Grumman Corporation. Additionally, the increased adoption of autonomous aircraft by the US Air Force is propelling market growth.

Europe is likely to offer lucrative growth opportunities during the forecast period. An in-depth analysis of the market in the UK, France, Italy, Germany, Russia, and the rest of Europe has been provided in this report. The UK accounts for the largest share of the European autonomous navigation market. Furthermore, investments made by defense companies such as Thales Group in the region are bolstering market growth. For example, in 2018, Thales Group inaugurated the Maritime Autonomous Systems Trials and Evaluation Centre in the UK.

The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. An in-depth analysis of the market in China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific has been provided in this report. China accounted for the majority of the Asia-Pacific autonomous navigation market in 2018. Factors such as military modernization activities undertaken by the government and the availability of advanced technology are propelling market growth in China. Additionally, increasing investments by the Chinese government in developing autonomous cargo ships are boosting market growth.

The Middle East & Africa includes the UAE, Israel, Saudi Arabia, Africa, and the rest of the Middle East & Africa. The UAE is expected to be the largest market during the forecast period. Increasing investments by the government in developing autonomous robots are bolstering market growth. Additionally, the growing adoption of autonomous vehicles in the region are propelling product demand.

Latin America includes Brazil and the rest of Latin America. Brazil is expected to the largest market during the forecast period. Increasing adoption of defense and security robots are bolstering market growth in the region.

The global autonomous navigation market has also been segmented based on solution, platform, and application.

Based on solution, the global autonomous navigation market has been segmented into processing unit, sensing system, and software. The sensing system segment dominated the market. However, the software segment is expected to register the highest CAGR during the forecast period.

By platform, the global autonomous navigation market has been divided into airborne, land, marine, and space. The airborne segment dominated the market in 2018 and is expected to be the fastest-growing during the review period.

On the basis of application, the global autonomous navigation market has been classified as military and government and commercial. The commercial segment dominated the market in 2018 and is expected to register the higher CAGR from 2019 to 2024.

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Key Players:

The key players in the global autonomous navigation market are ABB (US), Honeywell International Inc. (US), Raytheon Company (US), Northrop Grumman Corporation (US), Thales Group (France), Moog Inc. (US), Rolls-Royce (UK), Kongsberg Group (Norway), Trimble Inc. (US), Furuno Electric Co., Ltd (Japan), RH Marine (Netherlands), Safran (France), General Dynamics Corporation (US), L3 Technologies, Inc. (US), and Collins Aerospace (US).

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Contact Email [email protected]
Issued By Savni
Country India
Categories Aerospace , Defense
Tags Autonomous Navigation Market , Autonomous Navigation Market Size , Autonomous Navigation Market Share , Autonomous Navigation , Navigation Market
Last Updated November 26, 2019