Military GPS-GNSS Devices Market to Post 2.73% CAGR by 2027, Forecasts SDI in Its In-demand Report Published at MarketPublishers.com08 Sep 2017 • by Natalie Aster
LONDON – Worldwide, the military GPS-GNSS devices market is poised to grow from USD 2.1 billion as of 2017 to reach USD 2.8 billion by end-2027, posting a 2.73% CAGR. The cumulative value of total spending on military GPS-GNSS devices is anticipated to amount to USD 25.7 billion over the projected period.
The Asia-Pacific region is expected to dominate the market, capturing a share of 34.8% in the projected period, with North America and Europe following after with shares of 23.3% and 22.9%, respectively.
One of the key factors boosting the expenditure in the overall military GPS-GNSS devices sector is poised to be the uptake of new GNSS systems like BeiDou, Galileo, and IRNSS; this is sure to contribute to an upsurge in new procurements and help the GPS/GNSS sector maintain spending over the foreseeable future. Additionally, the GPS technology itself is undergoing a phase of rapid development and the introduction of new technologies are set to positively impact the industry. One of such examples is the US Air Force’s GPS III program, which is to be launched by 2017 and whose value stands at USD 7.3 billion. Anti-jamming capabilities have been seen an eightfold increase.
Thales, Lockheed Martin Corporation, Raytheon, Rockwell Collins, Northrop Grumman, Harris Corporation, and BAE Systems, amid others, are the largest players in the marketplace.
In-demand research report “Global Military GPS-GNSS Devices Market 2017-2027” elaborated by SDI offers a shrewd, unprejudiced analysis of the market on a global level over the next decade, and provides market size projections.
The research gives insights into the drivers, trends, and challenges pertaining to the market demand; gives a snapshot of the spending pattern by region and segment. It covers technology related developments in the market and canvasses the varying preferences of governments of the various countries; examines game-changing industry structure trends and the main challenges being faced by industry participants. The report examines the market from a segmental and regional perspective, offering a review of the factors impacting each of the market sectors. The study delves into the modernisation patterns and budgetary allocation for the leading countries in each region. The study identifies the military GPS-GNSS devices segments that are likely to be in demand in each of the regions in question. It gives details of the major programs in each segment to be executed in the years to come. The research scrutinises the competitive scene and profiles the market leaders.
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