Defense Navigation Systems Market - Global Industry Analysis, Size, Forecast 2024.

A defense navigation system offers GPS positioning and is an important equipment for military operations. There are various factors boosting the market for defense navigation systems such as technological advancement in navigation systems, rise in demand for accuracy, and rise in the number of aircrafts. In July 2013, India launched the IRNSS-1A to be deployed in the Indian Regional Navigation Satellite System (IRNSS) program to be completed in 2015 - 2016. In addition, China is also developing its original BeiDou satellite navigation system, which is scheduled to be operational by 2020.

The market is segmented on the basis of product type, application, technology, and geography. Based on product type, the defense navigation systems market is segmented into marine grade, navigation grade, and tactical grade among others. In 2016, the navigation grade segment had the major market share and is anticipated to retain the same during the forecast period 2016 – 2024. The major factor boosting the demand is increasing number of fighter planes, and technological advancements in navigation systems.

Download TOC for Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=21479

Based on applications, the defense navigation systems market is segmented into airborne platform, naval platform, and land platform. The naval platform market is further sub segmented into commercial marine, surface vessel, and submarines. In 2016, the naval platform market segment had the major market share and is anticipated to retain the same during the forecast period 2016 – 2024. However, the global military submarines and shipbuilding industry is affected significantly due to the decline in spending in Europe and the U.S. The major factor driving the naval platform is growing demand for accuracy in navigation. The airborne platform market is further sub segmented into helicopters, military aircraft, UAV systems, weapons and missiles, astronomy, aviation services, and others. The land platform market is sub segmented into air-land battle space digitization, artillery, infantry, armored vehicles, and others.

Based on technology, the defense navigation systems market is segmented into fiber optic gyro navigation system, ring laser gyro navigation system, mechanical navigation system, hemispherical resonator gyro navigation system, micro mechanical systems based navigation system, and others. In 2016, the fiber optic gyro navigation system segment dominated the market and is anticipated to do so during the forecast period 2016 – 2024. Vibrating gyroscope technology segment is anticipated to rise at the maximum CAGR during the forecast period 2016 – 2024. The major factor boosting the growth of the market is its ability to provide low noise navigation and exact altitude in risky weather conditions.

For more information on this report, fill the form @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=21479

Based on regions, the defense navigation systems market is segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America holds the major market share followed by Europe. Some of the major factors driving the market in North America are huge military spending and rise in demand for new aircrafts. The U.S. is the key contributor to the defense navigation systems market in North America. Europe held the second major share of the market followed by Asia Pacific, Middle East and Africa, and South America. Asia Pacific is anticipated to witness the maximum CAGR among all regions during the forecast period 2016 – 2024.

Some of the important players in the defense navigation systems market include Northrop Grumman Corporation (U.S.), Honeywell International Inc. (U.S.), and L-3 Communications Holdings, Inc. (U.S.). These top players are focusing on penetrating the growing economies and are adopting several methods to boost their market share. Some of the others players are Sagem (France), Rockwell Collins (U.S.), Thales Group (France), Trimble Navigation Ltd. (U.S.), LORD MicroStrain (U.S.), VectorNav Technologies, LLC (U.S.), and Systron Donner Inertial (U.S.) among others.

About Us:-

Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.

We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Contact Us:-

Transparency Market Research

90 State Street, Suite 700, Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com/

This release was published on openPR.