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Autonomous Navigation Global Market 2023 - Top Companies, Industry Analysis, Growth Statistics And Outlook By 2032
Autonomous Navigation Market
The Business Research Company's Autonomous Navigation Global Market Report 2023 identifies high demand for robots as the major driver for the Autonomous Navigation market's growth in the forecast period. Robots refer to any autonomously run system that substitutes human effort. Robot helps workers from dangerous activities by allowing them to manoeuvre without clashing with impediments and remain focused on several interventions. Such benefits from robots have increased the demand for autonomous navigation system to attain such crucial functionalities.
The global autonomous navigation market size is expected to grow from $3.73 billion in 2022 to $4.44 billion in 2023 at a compound annual growth rate (CAGR) of 19.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the autonomous navigation market size is expected to grow to $8.87 billion in 2027 at a CAGR of 18.8%.
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Major competitors in the Autonomous Navigation market are Honeywell International Inc., Thales Group, Raytheon Company, Northrop Grumman Corporation, Furuno Electric Co Ltd.
A key trend in the Autonomous Navigation market includes technological advancement. The autonomous navigation systems market is witnessing the implementation of advanced technologies such as deep learning, CNN algorithms for image processing, and pattern recognition. These systems often include a collection of sensors/detectors (such as radar, LIDAR, passive video cameras, and others) that provide input to CNNs. Major companies operating in the market are focused on advancing their technologies to sustain their position in the autonomous navigation market. For instance, in December 2021, Sea Machines Robotics Inc., a US-based autonomous control system company, launched JETsense, which uses autonomous navigation, multi-sensor fusion, and computer vision to propel waterjet watercraft to the forefront of navigation and usefulness. JETsense employs artificial intelligence (AI) and improved autonomy to perceive the domain and retain exact control of steering and speed during a journey, as well as re-route to avoid traffic and impediments, while also providing a new level of streaming data to optimize on-water operations.
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The Autonomous Navigation market is segmented -
• By Solution: Sensing System, Software, Processing Unit
• By Platform: Airborne, Land, Space, Marine, Weapon
• By Application: Commercial, Military and Government
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Autonomous Navigation market.
The Business Research Company's "Global Autonomous Navigation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Autonomous Navigation Market Include:
1. Executive Summary
2. Autonomous Navigation Market Characteristics
3. Autonomous Navigation Market Trends And Strategies
4. Autonomous Navigation Market - Macro Economic Scenario
5. Autonomous Navigation Market Size And Growth
…………………………………
26. Africa Autonomous Navigation Market
27. Autonomous Navigation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Autonomous Navigation Market
29. Autonomous Navigation Market Future Outlook and Potential Analysis
30. Appendix
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