Navigation System Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Navigation System Market Analysis
The Navigation Systems Market is expected to grow at a CAGR of 10.8% over the forecast period.
- With the increasing demand for real-time information in various applications ranging from automotive to autonomous robots, navigation systems are increasingly widely adopted globally. With technological advancement, these systems have transformed and offered multiple services and navigation facilities, thereby creating a considerable service ecosystem around navigation technologies.
- Besides determining the location or direction of vehicles, they have many different uses. They help to know the weather alerts, track parcels and shipments, improve the traffic flow, etc. Also, these systems are used in several advanced applications to facilitate smart spaces.
- Various GPS systems find use in mining, aviation, surveying, agriculture, maritime, and military applications. Increased global trade and maritime traffic have aided the market's growth in recent years. Moreover, Governments around the world have made significant investments in navigation systems across a variety of industry verticals.
- For instance, in collaboration, the Indian Space Research Organization (ISRO) and the Airports Authority of India (AAI) implemented the GAGAN project as a Satellite-Based Augmentation System (SBAS), which is anticipated to benefit numerous stakeholders operating in Indian airspace.
- Similarly, many countries focus on bringing new technological innovations to navigation systems. For instance, in November 2021, India became the fourth country in the world to have its independent regional navigation satellite system recognized by the International Maritime Organization (IMO) as a part of the Worldwide Radio Navigation System (WWRNS).
- The recent COVID-19 pandemic has severely impacted the global navigation system business. New projects all around the world have come to a halt. As workers stayed home, worldwide factories struggled to integrate modern navigation systems, disrupting global supply chains. COVID-19's impact on this market is only temporary because only the production and supply chain is halted. Production, supply networks, and demand for navigation systems will steadily expand as the situation improves.
- The high expansion in the aviation industry and the high defence spending are expected to fuel the navigation system market growth during the projected period. However, expensive installation costs and safety regulations are impeding industry growth. Nonetheless, overcoming such impediments will focus on introducing new technology innovations.
Navigation System Industry Segmentation
The Navigation Systems Market is segmented by Application (Defense, Aviation, Maritime, Automotive), Type (Satellite Navigation Systems, Surgical Navigation Systems, Inertial Navigation Systems), and Geography.
|Satellite Navigation Systems|
|Surgical Navigation Systems|
|Inertial Navigation Systems|
|Middle East & Africa|
Navigation System Market Trends
This section covers the major market trends shaping the Navigation System Market according to our research experts:
Defense is Boosting the Market Growth
- One of the significant applications of navigation systems is the defence industry. Navigation systems allow users to detect, locate, and characterize interference sources. Military forces use satellite navigation for ground navigation, aerial monitoring, and maritime navigation.
- Navigation helps military missions accurately position their units, the enemy's forces, and the locations of the enemy's facilities or installations. Accuracy, reliability, precision in positioning, and timely measurements are some of the factors driving the growth of market adoption in the defence sector.
- Many companies provide a wide range of products to cater to the needs of various end-users. For instance, Safran offers a complete range of inertial navigation systems that equip over 50 types of land platforms throughout the world. The Geonyx inertial navigation and pointing system provides extreme shock resistance. The Geonyx is the most compact, robust, and reliable land inertial navigation and pointing system on the market.
- Owing to the increasing security concerns by the government of various countries, a navigation system has become an indispensable part of the defence sector. For instance, Britain is moving toward launching its satellite navigation system. The Conservative government of London recently announced that it has set aside GBP 92 million to undertake a feasibility test for designing and developing an alternative to the Galileo Satellite System.
- Britain took the step in response to the move by the European Union to remove Britain from the Galileo constellation following Brexit. Also, according to a recent October 2021, The People's Liberation Army of China has discontinued using its BeiDou navigation system. The PLA's move attempts to conceal its activities and border areas with India. This comes after the Indian Army dramatically increased its surveillance grid around its northern and eastern borders.
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North America Expected to Hold Significant Share
- The North American region holds the majority share in the global navigation system market. The primary reason for North America to be the market leader can be the early adoption of technology in the region and immense investment into advanced navigation systems. Also, increased spending on various automation technologies and building a smart infrastructure throughout the region is further expected to boost market growth.
- The key factors driving the market are driving the increasing penetration of cellular network infrastructure and the integration of technologies for applications, such as Automatic Vehicle Location (AVL), tracking systems, and others. However, factors such as high cost, lack of awareness of GNSS technology, and signal connectivity hinder the market's growth.
- The navigation system is mostly used in the defence sector. Tracking and positioning is a navigation system's primary application area, primarily used in the defence industry. Most of the defence industry's spending comes from the North American region, with the United States contributing the most.
- In January 2020, the Federal Aviation Administration (FAA) in the United States announced a GPS Interference Testing program to carry out for a week to enhance systems against attacks.
- The United States is the largest spender on national defense compared to countries like China, Saudi Arabia, India, France, Russia, the United Kingdom, Germany, etc. Defense spending accounts for 15% of all federal spending and roughly half of the discretionary spending.
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Navigation System Industry Overview
The competitive rivalry in the navigation systems market is high owing to some key players like Garmin Ltd, Honeywell International Inc., Collins Aerospace Inc., Safran Electronics & Defense Inc., and many more. Their ability to continually innovate their products through significant research and development investments has helped them achieve a competitive advantage over other players. Some of the key developments in the market are:
- January 2022 - African countries have joined part of the satellite-based augmentation system (SBAS) because of ASECNA (Agency for Aerial Navigation Safety in Africa and Madagascar) efforts. SBAS is a precise and robust Global Navigation Satellite System (GNSS) system that eliminates the need for regional ground-based navigation aids and airport landing systems. Africa aviation, led by ASECNA, is capable of developing its own SBAS system, which will assist the airlines or aviation stakeholders.
- September 2021 - Collins Aerospace announced the world’s first Military Underwater Navigation System with M-Code (MUNS-M), a handheld diver navigation system that provides the diver with precise position and includes secure anti-jamming capabilities during deep sea missions.
Navigation System Market Leaders
Honeywell International Inc.
Collins Aerospace Inc.
Safran Electronics & Defense Inc.
KVH Industries Inc.
*Disclaimer: Major Players sorted in no particular order
Navigation System Market News
- June 2022 - Airbus announced that it had integrated ILS (Instrument Landing System) in its aircraft. The newly certified cockpit avionics function, a satellite-based/augmented landing system (SLS), will be rolled for operators of the A320 and A330 families as line-fit and retrofit options.
- February 2022 - Thales Alenia Space, a Franco-Italian aerospace manufacturer based in Europe specializing in satellite manufacturing and space-related products, announced that the French Space Agency CNES had awarded the company a contract to develop a dual-frequency multi-constellation (DFMC) satellite-based augmentation system (SBAS) prototype. Satellite-Based Augmentation Systems (SBAS) are used to improve the accuracy and precision of existing GPS systems in situations where GPS systems are insufficiently accurate to assist aircraft in landing.
Navigation System Market Report - Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Assessment of the COVID-19 Impact on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increase in Implementation of Navigation Systems in the Automobile Industry
5.2 Market Restraints
5.2.1 High System Cost and Lack of Supporting Infrastructure in Developing Countries
6. MARKET SEGMENTATION
6.1 By Application
6.1.5 Other Applications
6.2 By Type
6.2.1 Satellite Navigation Systems
6.2.2 Surgical Navigation Systems
6.2.3 Inertial Navigation Systems
6.2.4 Other Types
6.3.1 North America
6.3.4 Latin America
6.3.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 Garmin Ltd
7.1.2 Honeywell International Inc.
7.1.3 Collins Aerospace Inc.
7.1.4 Safran Electronics & Defense Inc.
7.1.5 KVH Industries Inc.
7.1.6 Raytheon Company Ltd
7.1.7 SBG Systems SAS
7.1.8 Advanced Navigation Inc.
7.1.9 Trimble Navigation Ltd
7.1.10 Lord Sensing Systems Inc.
7.1.11 L3Harris Technologies Inc.
7.1.12 Northrop Grumman Corporation
7.1.13 Esterline Technologies Corporation
7.1.14 Moog Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Navigation System Market Research FAQs
What is the study period of this market?
The Navigation System Market is studied from 2018 - 2028.
What is the growth rate of Navigation System Market?
The Navigation System Market is growing at a CAGR of 10.8% over the next 5 years.
Which region has highest growth rate in Navigation System Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Navigation System Market?
North America holds highest share in 2021.
Who are the key players in Navigation System Market?
Garmin Ltd., Honeywell International Inc., Collins Aerospace Inc., Safran Electronics & Defense Inc., KVH Industries Inc. are the major companies operating in Navigation System Market.
Navigation System Industry Report
Statistics for the 2023 Navigation System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Navigation System analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.