Drone Navigation System Market Rising Demand Of Drones For Various Applications

According to Precision Business Insights (PBI), the latest report, the drone navigation system market is expected to be valued at USD 8,923.2 million in 2022, growing at a 25.3% CAGR from 2022 to 2028. The primary driver of the expansion of the global Drone Navigation System market includes rising disposable incomes, increasing population day by day, an upsurge in drone use in the defense sector, the development of electronic warfare technologies, and the implementation of AI technology.

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Military Segment to Dominate the Drone Navigation System Market:
Based on application, the military sector is expected to account for a larger revenue share in the global Drone Navigation System market, with a value share worldwide due to the increasing demand for drones in the military sector across the globe. With a wide range of availability of military drones of different sizes that are customized and designed for a particular mission, profile will further enhance the market demand. The continuous development and advancement such as MALE and HALE UAVs are products of advanced navigation systems such as astronavigation, dead reckoning, and inertial navigation systems (INS). Furthermore, INS is based on the simultaneous processing of inputs from onboard sensors by a powerful onboard computer to calculate the position, orientation, and velocity of a drone. These features of military drones will surely push market growth in drone navigation systems over the forecast period.

North America Drone Navigation System Market:
The Asia Pacific market is expected to increase in the global Drone Navigation System market over the forecast period. It is projected to grow at a significant CAGR in the coming years owing to the rising demand for drones by defense forces, mainly in the U.S. Additionally, the drone navigation system has extensive applications in numerous sectors such as border security, aerial photography, emergency response, weather research, law enforcement, forest fire monitoring, scientific data collection, last-mile delivery, logistics, and traffic monitoring and control. These factors would undoubtedly expand the drone navigation market in this region. The Asia Pacific is also witnessed to have a considerable growth rate in the coming next few years due to the continued flourishing of the market for indigenous development of drones in the region, and increasing demand for drones for various applications.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global drone navigation system market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The drone navigation system market is segmented based on product type, application, and geography.
Based on the product type, the market is segmented into the following:
• Autonomous Semi-Autonomous
• Remotely Operated

Based on the application, the market is segmented into the following:
• Civil and Commercial
• Military

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the Drone Navigation System Market report are SZ DJI Technology Co., Ltd., AeroVironment, Inc., SBG Systems, UAV Navigation, Leica Geosystems AG, Inertial Sense LLC, AeroVironment Inc., Advanced Navigation Pty Ltd., Elbit Systems Ltd., Gladiator Technologies Inc., Hexagon AB, Inertial Labs, Northrop Grumman Corp., Oxford Technical Solutions Ltd., Parker Hannifin Corp., Parrot Drones SAS, Sagetech Avionics Inc., Trimble Inc., uAvionix Corp., and UAVOS INC.

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