Military GPS Receivers Market is Forecasted to Reach US$ 875.3 Million in 2030, Says Stratview Research

The global Military GPS Receivers Market is projected to witness a growth rate of 5.1% annually from 2024 to 2030, with an anticipated size of US$ 875.3 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 GPS 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$ 875.3 Million
Growth (CAGR): 5.1% 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 GPS Receivers Market:
The global Military GPS Receivers Market is segmented product type, frequency type, application type, and region

Based on product type: The military GPS receiver market is segmented into P(Y) Code GPS receivers and M-code GPS receivers. Ever since the commencement of the sales of M-Code GPS receivers, their sales have been increasing exponentially, eroding the market share of the traditionally used P(Y) Code receivers.
These advanced devices are designed to enhance the PNT capabilities of armed units and provide improved resistance to existing and emerging threats to GPS such as jamming and spoofing. Therefore, it is estimated that the M-Code GPS receivers will completely replace the P(Y) Code receivers in the coming decade.

Based on frequency type: The market is segmented into single-frequency GPS receivers and dual-frequency GPS receivers. Dual-frequency GPS receiver is predicted to remain the larger and faster-growing segment of the market in the coming years. Dual-frequency GPS receivers are preferred over their single-frequency counterparts due to their greater accuracy and resistance to multipath errors, which are common for the latter. Furthermore, if any one of the two frequencies fails, the other one works as a backup, thus ensuring uninterrupted signal transmission.

Based on Application Type: The military GPS receiver market is segmented into aviation-based GPS receivers, ground-based GPS receivers, PGM-based GPS receivers, handheld GPS receivers, and maritime equipment-based GPS receivers. Among these application types, the PGM-based application is estimated to remain the market leader for military GPS receivers in the coming years, as these GPS systems form an essential component in the PGMs (such as missiles, bombs, and projectiles). Moreover, with the increasing hostilities across the globe, the demand for PGMs has been increasing manifold, thereby, fueling the market growth.

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-
• In terms of regions, North America is likely to remain the largest market for military GPS receivers over the forecast period, with the USA accounting for the majority of the market.
• The country has been extensively investing in military GPS receivers to enhance the overall capabilities of its armed forces.
• Furthermore, market-leading companies, such as BAE Systems, L3Harris Technologies, Inc., and RTX Corporation, are present in the region, giving North America an unrivaled advantage over other regions.

Military GPS Receivers Market Drivers:
The Military GPS Receivers Market is driven by several key factors, including:
• Growing Dependence on Real-Time Data Transmission - Military operations increasingly rely on real-time data, driving the demand for military GPS receivers.
• Accurate Target Tracking and Navigation - These devices provide precise tracking, route navigation, and digital mapping solutions, making them essential for military missions.
• Enhanced Military Capabilities - The procurement of military GPS receivers is rising as they enhance the effectiveness of armed forces in combat and strategic operations.

Top 10 Companies in the Military GPS Receivers Market:
Stratview Research has identified the following companies as the top market players:
• BAE Systems
• General Dynamics Corporation
• Hertz Systems
• Israel Aerospace Industries
• Juniper Systems, Inc.
• L3Harris Technologies, Inc.
• Mayflower Communications
• RTX Corporation (Raytheon)
• Thales Group
• Trimble Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Military GPS 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:
• GPS Tracking Device Market: https://www.stratviewresearch.com/1114/GPS-tracking-device-market.html
• Military GNSS Receivers Market: https://www.stratviewresearch.com/2883/military-gnss-receivers-market.html

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This release was published on openPR.