Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Military Navigation - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Military Navigation Market to Reach $19.1 Million by 2030
The global market for Military Navigation estimated at US$12.6 Million in the year 2022, is projected to reach a revised size of US$19.1 Million by 2030, growing at a CAGR of 5.3% over the analysis period 2022-2030.
Hardware, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$10.8 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 4.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.4 Million, While China is Forecast to Grow at 8.1% CAGR
The Military Navigation market in the U.S. is estimated at US$3.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Million by the year 2030 trailing a CAGR of 8.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Select Competitors
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 243 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $12.6 Million |
| Forecasted Market Value (USD) by 2030 | $19.1 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Cobham PLC
- Esterline Technologies Corporation
- Garmin International, Inc.
- GE Aviation
- Honeywell International, Inc.
- Israel Aerospace Industries Ltd.
- KVH Industries, Inc.
- LORD MicroStrain Sensing Systems
- Moog, Inc.
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins, Inc.
- Safran Electronics & Defense
- Thales Group
- Trimble Navigation Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/sw562o
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