Armored Vehicle Navigation Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Armored Vehicle Navigation Systems Manufacturers and the market is Segmented by Armored Vehicle Type (Main Battle Tanks, Infantry Fighting Vehicles, Armored Personnel Carrier, and Other Armored Vehicle Types), Navigation System (Inertial Navigation System and Satellite Navigation System), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

Armored Vehicle Navigation Systems Market Size

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Armored Vehicle Navigation Systems Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 103.45 Million
Market Size (2029) USD 131.46 Million
CAGR (2024 - 2029) 4.92 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Armored Vehicle Navigation Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Armored Vehicle Navigation Systems Market Analysis

The Armored Vehicle Navigation Systems Market size is estimated at USD 103.45 million in 2024, and is expected to reach USD 131.46 million by 2029, growing at a CAGR of 4.92% during the forecast period (2024-2029).

The increase in defense expenditure globally has propelled the armored vehicle navigation system market. The major economies, such as the United States, France, and Russia, and emerging economies, such as India and China, have surged their defense expenditures. These countries are heavily investing in the development and procurement of armored vehicles. Moreover, to give fleets increased battle ranges and combat effectiveness, substantial developments are being made in the field of armored vehicle navigation systems. Development and implementation of technologies, such as artificial intelligence and autonomous vehicle technology, are propelling the growth of the market for armored vehicle navigation systems.

Armored Vehicle Navigation Systems Market Trends

Inertial Navigation Systems to Exhibit the Highest Growth Rate

Major military forces worldwide are increasing their efforts to improve the situational awareness of combat vehicle units on the battlefield, leading to significant improvements in inertial navigation systems. The integration of satellite positioning systems with inertial navigation systems is propelling the growth of the global armored vehicle navigation systems market. 

Investments are being made to improve the existing inertial navigation technology that can work precisely in GPS-denied zones. Inertial navigation systems are safe and accurate, unlike GPS systems prone to jamming and spoofing. Sensor technology development is at the core of inertial navigation system development. For instance, in November 2023, Kebni AB, a Sweden-based firm, was awarded an order for a test unit of Kebni SensAItion inertial navigation systems (INS) from RV Connex as part of a new industrial cooperation. The order pertains to a test unit that evaluates navigational support in advanced applications.

The increasing use of sensors is fueling the weight—and space-reduction design of armored vehicle navigation systems. Sensors and Fiber Optic Gyros (FOG) reduce the instability of inertial navigation systems and make them more reliable. Owing to their autonomous vehicle applications, FOG systems are expected to witness a high growth rate during the forecast period.

Armored Vehicles Navigation Systems Market: Military Vehicle Fleet, By Country, 2023

Asia-Pacific is Projected to Significant Growth During the Forecast Period

Asia-Pacific is home to major military powers, such as Japan, China, India, and South Korea, and these countries are significantly increasing their defense expenditures for the procurement and development of armored vehicles and armored vehicle navigation systems, owing to the rising border conflicts and terrorism in the region. 

Procuring armored vehicles in the region has aided the demand for its navigation systems. For instance, in December 2022, the Japanese Ministry of Defense outlined a five-year plan for the procurement of Finnish company Patria's armored modular vehicles (AMVs) for the Japan Ground Self-Defense Force's (JGSDF's) wheeled armored personnel carrier (WAPC) program. The country has plans to procure 29 vehicles worth USD 176 million. Similarly, in September 2023, the Indian Ministry of Defense initiated the procurement of 170 armored recovery vehicles (ARVs) based on a tracked platform. These developments are expected to aid the market in the Asia-Pacific region.

Armored Vehicles Navigation Systems Market : Market CAGR (%), By Region, Global, 2022

Armored Vehicle Navigation Systems Industry Overview

The market for armored vehicle navigation systems is semi-consolidated, with major players, such as Honeywell International Inc., KVH Industries Inc., Safran SA, RTX Corporation, and BAE Systems plc. The market is witnessing investments in innovations and the development of precise technology that can be offered at low, competitive rates. Major players aim to win contracts and deals from national governments and defense agencies for revenue generation. The market is expected to grow, owing to the defense modernization and upgrade efforts by major economies worldwide.

Armored Vehicle Navigation Systems Market Leaders

  1. Honeywell International Inc.

  2. KVH Industries, Inc.

  3. BAE Systems plc

  4. RTX Corporation

  5. Safran SA

*Disclaimer: Major Players sorted in no particular order

Armored Vehicle Navigation Systems Market Concentration
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Armored Vehicle Navigation Systems Market News

February 2024: Elbit Sytems was awarded a USD 300 million contract to supply weapon, reconnaissance, driving, and situational awareness systems for approximately 230 armored vehicles to a European customer until 2030.

November 2023: India and the US announced their plans to jointly produce Stryker armored vehicles to strengthen Indian ground forces amid a tense border dispute between India and China.

Armored Vehicle Navigation Systems Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Armored Vehicle Type

      1. 5.1.1 Main Battle Tanks

      2. 5.1.2 Infantry Fighting Vehicles

      3. 5.1.3 Armored Personnel Carriers

      4. 5.1.4 Other Armored Vehicle Types (Tactical Truck, Bus, MRAP)

    2. 5.2 Navigation System

      1. 5.2.1 Inertial Navigation System

      2. 5.2.2 Satellite Navigation System

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Australia

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Mexico

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Rest Of Latin America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Israel

        4. 5.3.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Safran SA

      2. 6.2.2 KVH Industries Inc.

      3. 6.2.3 Hertz Systems

      4. 6.2.4 Israel Aerospace Industries Ltd.

      5. 6.2.5 Bharat Electronics Limited (BEL)

      6. 6.2.6 Advanced Navigation

      7. 6.2.7 Honeywell International Inc.

      8. 6.2.8 GEM elettronica

      9. 6.2.9 BAE Systems plc

      10. 6.2.10 Northrop Grumman Corporation

      11. 6.2.11 THALES

      12. 6.2.12 RTX Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Armored Vehicle Navigation Systems Industry Segmentation

An armored vehicle is a technologically advanced vehicle fitted with partial or complete armor plating to protect against bullets, shell fragments, and other projectiles. Armed forces use armored vehicles and move on wheels or continuous tracks. The armored vehicle navigation system is essential to military missions for navigation purposes in enemy territories.

The armored vehicle navigation systems market is segmented by armored vehicle type, navigation system, and geography. By armored vehicle type, the market is segmented into main battle tanks, infantry fighting vehicles, armored personnel carriers, and other armored vehicle types. By navigation system, the market is segmented into inertial navigation systems and satellite navigation systems. The report also covers the market sizes and forecasts for the armored vehicles navigation systems market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Armored Vehicle Type
Main Battle Tanks
Infantry Fighting Vehicles
Armored Personnel Carriers
Other Armored Vehicle Types (Tactical Truck, Bus, MRAP)
Navigation System
Inertial Navigation System
Satellite Navigation System
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest Of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Israel
Rest of Middle-East and Africa
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Armored Vehicle Navigation Systems Market Research FAQs

The Armored Vehicle Navigation Systems Market size is expected to reach USD 103.45 million in 2024 and grow at a CAGR of 4.92% to reach USD 131.46 million by 2029.

In 2024, the Armored Vehicle Navigation Systems Market size is expected to reach USD 103.45 million.

Honeywell International Inc., KVH Industries, Inc., BAE Systems plc, RTX Corporation and Safran SA are the major companies operating in the Armored Vehicle Navigation Systems Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Armored Vehicle Navigation Systems Market.

In 2023, the Armored Vehicle Navigation Systems Market size was estimated at USD 98.36 million. The report covers the Armored Vehicle Navigation Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Armored Vehicle Navigation Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Armored Vehicle Navigation Systems Industry Report

Statistics for the 2024 Armored Vehicle Navigation Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Armored Vehicle Navigation Systems analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Armored Vehicle Navigation Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)