Military GNSS Receivers Market is Forecasted to Reach US$ 954.3 million in 2030, Says Stratview Research

The global Military GNSS Receivers Market is projected to witness a growth rate of 5.2% annually from 2024 to 2030, with an anticipated size of US$ 954.3 million in 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Military GNSS Receivers Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2030: US$ 954.3 million
Growth (CAGR): 5.2% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Military GNSS Receivers Market:
The global Military GNSS Receivers Market is segmented product type, application type, frequency type, and region

By Product Type: The market is segmented into GPS receivers and other GNSS receivers. GPS receiver is estimated to be the dominant segment whereas other GNSS receivers are expected to exhibit the fastest growth during the forecast period. Between these sub-segments, the GPS receiver holds the lion's share in the market, owing to massive investments in such devices, particularly by the US DoD.
Although there have been some market developments in other GNSS receivers in countries such as China and Russia, they are minor in comparison to the dominance of GPS receivers.

Based on application type: The market is bifurcated into aviation-based GNSS receivers, ground-based GNSS receivers, PGM-based GNSS receivers, handheld GNSS receivers, and maritime equipment-based GNSS receivers.
Among these sub-segments, the PGM-based GNSS receivers are expected to remain the most sought-after segment in the foreseen future. GNSS receivers form an integral component of the PGMs, which are in high demand, as a result of the rising border conflicts and terror threats.

Based on frequency type: The market is classified as single-frequency GNSS receivers and dual-frequency GNSS receivers. The dual-frequency GNSS receivers are expected to remain the larger as well as the faster-growing frequency over the next six years. Between these frequency types, dual-frequency is the more commonly used frequency type for military GNSS receivers as it provides enhanced accuracy and is more resistant to multipath errors, which are common in single-frequency GNSS receivers.
Furthermore, if one of the frequencies fails, the other serves as a backup, ensuring uninterrupted signal transmission.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis North America is expected to remain the largest market over the next six years, whereas Asia-Pacific is likely to grow at the fastest rate. This growth outlook is majorly attributed to the following-
• The USA, in particular, accounts for a mammoth market share, owing to the large-scale investments of the US DoD in the development and procurement of military GNSS receivers.
• Concurrently, Asia-Pacific is estimated to witness the fastest market growth in the foreseen future, due to the growth of regional GNSS systems, increasing military expenditure, rising regional terror threats, and continuous border conflicts between India-Pakistan and India-China, among others.

Military GNSS Receivers Market Drivers:
The Military GNSS Receivers Market is driven by several key factors, including:
• The deployment of military GNSS receivers has witnessed a significant rise, enabling better coordination among different military platforms, and resulting in effective cross-platform interoperability and mission support.
• With increasing military operations as a result of looming terror threats and geopolitical hostilities, several countries are focusing on strengthening the defense and offensive capabilities of their airborne, ground-based, and naval forces to ensure battlefield supremacy.

Top 10 Companies in the Military GNSS Receivers Market:
Stratview Research has identified the following companies as the top market players:
• BAE Systems plc
• L3Harris Technologies, Inc.
• RTX Corporation (Raytheon Technologies Corporation)
• Thales Group
• Trimble Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Military GNSS Receivers Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Military GPS Receivers Market: https://www.stratviewresearch.com/2882/military-gps-receivers-market.html
• Military GNSS Receivers Market: https://www.stratviewresearch.com/2883/military-gnss-receivers-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.