autonomous navigation system marketSegments, Competitors Strategy, Regional Analysis, Review, Key Players Profile, Statistics and Growth to 2027

AshwiniAhirrao

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The globalAutonomous Navigation Market has been segmented by component type, vessel type,application, and region. | Marine Electronics Market: Information by Componenttype Vessel Type, Application Region

Description

Market Highlights
The global Autonomous Navigation Market isexpected to register significant growth during the forecast period owing tovarious factors such as the increasing demand for autonomous robots in thelogistics industry and rising adoption of autonomous navigation systems by thegovernments in various countries such as the US to offer enhanced security tocitizens. However, the absence of required infrastructure in developingeconomies and vulnerability to cyber threats may hamper market growth.

The global autonomous navigation market has beensegmented based on solution, platform, application, and region.
On the basis of solution, the global autonomousnavigation market has been segmented into processing unit, sensing system, andsoftware. The sensing system segment is expected to account for the largestmarket share during the forecast period of 2019 to 2024. However, the softwaresegment is expected to register the highest CAGR during the forecast period.The software integrated with autonomous systems assists in combat operations asit offers dynamic route planning, autonomous search and rescue, and minedetection.

On the basis of platform, the market has beensegmented into airborne, land, marine, and space. The airborne segmentdominated the market in 2018 and is expected to exhibit the highest CAGR duringthe forecast period. The increased adoption of autonomous aircraft by the airforce of various countries is propelling segment growth. For example, in 2019,Northrop Grumman Corporation signed a contract with the US Air Force for USD 59million to provide autonomous systems.
On the basis of application, the globalautonomous navigation market has been classified as military and government andcommercial. The commercial segment dominated the market in 2018 and is expectedto register the higher CAGR during the forecast period. Increasingmanufacturing of autonomous vehicles and growing investments by prominentdefense companies in developing autonomous marine systems are fueling marketgrowth. For example, in 2019, Thales Group signed an agreement with theUniversity of Southampton to develop autonomous marine systems.

Based on region, the global autonomousnavigation market has been segmented into North America, Europe, Asia-Pacific,Latin America, and the Middle East & Africa. North America is expected tohold the largest market share during the forecast period. However, the marketin Asia-Pacific is expected to register the highest CAGR during the reviewperiod. Factors such as increasing defense expenditure in developing economiessuch as China and India are boosting market growth. The increasing adoption ofautonomous vehicles by governments in countries such as India are also drivingmarket growth. For example, in 2019, AB Volvo unveiled autonomous electricbuses in India. Additionally, increasing investments made in developingautonomous military robots by the Indian and Chinese governments are also propellingmarket growth in the region.

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Key Players
The key players in the global autonomousnavigation market are ABB (US), Honeywell International Inc. (US), RaytheonCompany (US), Northrop Grumman Corporation (US), Thales Group (France), MoogInc. (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 CollinsAerospace (US).

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