Military navigation systems are used to determine, monitor, and control direction of movement from one point to the other. This system uses radar, Lidar, global positing software (GPS), AIS receivers for functioning purposes. Major factor driving growth of the global military navigation market is increasing adoption of advance artillery and missile systems in defense sector. However, high cost of military navigation systems may affect growth of the target market.
The global military navigation market has been segmented on the basis of component, platform, application, and region. On the basis of component, the market is segmented into software, hardware, and services. Service segment holds major share in terms of revenue and expected maintain its dominance in the near future. Increasing use of services for training, maintenance, and repair purposes.
On the basis of platform, the market is segmented into ground, ammunition, marine, space, and unmanned vehicle. Space segment is expected to witness significant growth in terms of revenue over the forecast period, due to increasing use of satellites for mapping, surveillance, and monitoring.
On the basis of application, the market is segmented into security and combat, targeting and guidance, search and rescue, command and control, and intelligence, surveillance and reconnaissance. Intelligence, surveillance, and reconnaissance segment is anticipated to witness high growth in terms of revenue in the near future.
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Based on the region the military navigation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global military navigation market in terms of revenue, owing to presence of key manufacturers and high adoption rate of new technology in defense sector. The market in Europe is expected to witness lucrative growth in the near future, followed by Asia Pacific, Latin America, and middle East and Africa.
Key players operating in the global military navigation market include L3 Technologies, Inc., Esterline Technologies Corporation, GE Aviation Company, Honeywell International Inc., Moog Inc., Northrop Grumman Corporation, Raytheon Company, Rockwell Collins, Inc., Trimble Inc., and KVH Industries, Inc.