Global Autonomous Navigation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2033
Global Autonomous Navigation Market was valued at over USD 4292.8 Mn in 2023 and the market will grow to USD 19318.4 mn and is projected to register а САGR approximately to 18.19% by 2033.
“Global Autonomous Navigation Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2031” is a recent report generated by MarketResearch.biz. The global autonomous navigation market report has been segmented on the basis of solution, platform, application, and region.
Global Autonomous Navigation Market: Overview
Autonomous navigation is used for making a vehicle able to decide and choose its own route or path without the requirement of any human intervention.
Global Autonomous Navigation Market: Dynamics
Increasing unmanned vehicles such as autonomous aircraft, drones, underwater vehicles, ships, surface vehicles, trains, cars in defence as well as the commercial sector is a major factor driving growth of the global autonomous navigation market. In addition, rising demand for autonomous robots is another factor supporting growth of the global market. Furthermore, the use of autonomous navigation to gather real-time data, intelligence, surveillance and reconnaissance is a factor expected to augment growth of the global autonomous navigation market in the near future.
However, challenges faced by autonomous vehicles in unknown environments is a factor that may hamper growth of the global autonomous navigation market. In addition, the lack of regulatory framework and concern regarding cyber-attack are some of the major challenging factors that could affect growth of the global market. Nevertheless, increasing research and development activities to overcome challenges faced by autonomous vehicles can create high revenue opportunities for players in the target market.
Global Autonomous Navigation Market: Segment Analysis
Among the platform segments, the airborne segment is expected to register high growth in terms of revenue over the forecast period. The increasing use of unmanned aerial vehicles for various military applications is a key factor fueling growth of this segment in the global market. in addition, high investment for the development of autonomous drones is another factor supporting growth of the airborne segment.
Among the solutions segment, the software segment is expected to register lucrative growth in terms of revenue in the near future. Increasing adoption of technologies such as machine learning and artificial intelligence in automated cars, drones, and ships is anticipated to boost growth of this segment in the target market in the coming years.
Global Autonomous Navigation Market: Regional Analysis
Currently, the market in North America dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period. The presence of prominent players and the high adoption of advanced technology are factors fueling the growth of the target market in this region. In addition, the high military budget and increasing adoption of unmanned aerial vehicles for various applications are also some of the factors driving growth of the autonomous navigation market in North America.
The market in Asia Pacific is expected to register highest growth in terms of revenue in the near future, followed by Europe, Middle East & Africa and Latin America. Increasing defence budget in countries such as India and China are anticipated to support growth of the target market for military applications. In addition, increasing demand for automobiles with advanced technology, coupled increasing number of manufacturing facilities of prominent players in automotive sectors are factors propelling growth of the autonomous navigation market in Asia Pacific.
Global Autonomous Navigation Market Segmentation:
Segmentation by Solution:
- Processing Unit
- Sensing System
- Automatic Identification System (AIS)
- Global Navigation Satellite System (GNSS)
- Inertial Navigation System (INS)
Segmentation by Platform:
Segmentation by Application:
- Military & Government
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 4292.8 Growth Rate 18.19% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2023 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Honeywell International Inc.
- ABB Ltd
- Rolls-Royce plc
- RH Marine
- Kongsberg Gruppen ASA
- Trimble Inc.
- Safran S.A.
- Furuno Electric Co., Ltd
- General Dynamics Corporation
- Thales Group
Request for TOC
Why Choose Us
- 360 Degree Approach
- Growth Consulting
- 24/7 Research Support
- Comprehensive-Level of Customization
- Comprehensive-Level of Customization
- Competitive Intelligence
- Single-Country/ Region Intelligence
- Post-Sale Service Assistance
- Access to Lead Analysts
- Available in PDF, Excel, Word/ PPT
Request for Customization
Don't just take our word. We are trusted by these great companies!