LONDON, Aug. 29, 2017 /PRNewswire/ --
Summary
Global Military GPS-GNSS Devices market is expected to value US$2.1 Billion in 2017 and is expected to increase to US$2.8 Billion by 2027, growing at a CAGR of 2.73% during the forecast period. The cumulative market for global expenditure on Military GPS-GNSS devices will reach US$25.7 Billion over the forecast period.
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Over the last decade this increased usage has allowed, GPS technology to move up several notches with the development of a number of software applications offering a number of services in addition to navigation and tracking; examples include target acquisition, missile guidance, search and rescue, coordinate bombing, precision survey, instrument approach, range instrumentation, remotely piloted vehicle operations, bare base operations, close air support, command and control and the location of enemy radar.
Asia Pacific is projected to dominate the Military GPS-GNSS Devices market, with a share of 34.8% over the forecast period, followed by North America with a share of 23.3%, and Europe with 22.9%. The troubled Middle Eastern region is projected to be a attractive market for Military GPS-GNSS Devices sector and account for a share of 11.5%, followed by the Latin American and African markets with share of 3.7% each.
One factor driving expenditure in the sector is expected to be the introduction of new GNSS systems such as Galileo, BeiDou and IRNSS, which will lead to new procurements and will help the GPS/GNSS sector to sustain spending during the forecast period. Also, the GPS technology itself is going through a stage of robust evolution and the advent of new technologies are expected to have a positive impact on the industry. One such example is the US's GPS III satellites program, which is projected to be launched in 2017 and is worth US$7.3 Billion. Anti-jamming capabilities have been increased eight-fold.
The report "Global Military GPS-GNSS Devices Market 2017-2027" offers detailed analysis of the global Military GPS-GNSS Devices market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for Military GPS-GNSS Devices.
In particular, this report provides the following analysis
- Overview: Snapshot of the Military GPS-GNSS Devices market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the Military GPS-GNSS Devices market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the Military GPS-GNSS Devices market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the Military GPS-GNSS Devices market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: analysis of the key markets in each region, providing an analysis of the Military GPS-GNSS Devices segments expected to be in demand in each region.
- Key Program Analysis: details of the top programs in each segment expected to be executed during the forecast period.
- Competitive landscape analysis: analysis of competitive landscape of the global Military GPS-GNSS Devices industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: Lockheed Martin Corporation, Rockwell Collins, Thales, Raytheon, Northrop Grumman, BAE Systems, Harris Corporation.
Scope
- The global military GPS-GNSS Devices market is expected to grow at a CAGR of 2.73% over the forecast period.
- The market consists of four categories: Land Based GPS/GNSS, Air Based GPS/GNSS, Munition Guiding GPS/GNSS, and Naval GPS/GNSS. Land based GPS/GNSS is expected to account for the largest share of expenditure globally, with a market share of 71.3%, followed by Munition Guiding GPS/GNSS with a share of 16.5%. The Air based GPS/GNSS segment is expected to account for 10.8% of the sector over the forecast period, and the remaining 1.3% share is accounted for by Naval based GPS/GNSS. Manufacturers are now using a number of navigation systems, in addition to GPS systems, and this has led to large scale procurement globally. Over the last decade this increased usage has allowed GPS technology to move up several notches with the development of software applications offering a number of services in addition to navigation and tracking; examples include target acquisition, missile guidance, search and rescue, coordinate bombing, precision survey, instrument approach, range instrumentation, remotely piloted vehicle operations, bare base operations, close air support, command and control, and the location of enemy radar
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global military GPS-GNSS Devices market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military GPS-GNSS Devices segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global military GPS-GNSS Devices market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military GPS-GNSS Devices market
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