High adoption of autonomous robots for commercial and military purposes and demand for autonomous robots in logistics are the major factors for the growth of the global autonomous navigation market.
The autonomous navigation market size is expected to grow from USD 2.2 billion in 2018 to USD 13.5 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 16.19% during the forecast period. The market for autonomous navigation is driven by factors such as defense forces across the globe resorting to modern warfare techniques like electronic warfare, information warfare, and network-centric warfare. These techniques require substantial battlefield-related data to control and monitor military operations on battlefields. This requirement has led to the increasing use of autonomous systems on battlefields to gather data through Intelligence, Surveillance & Reconnaissance (ISR) activities on a real-time basis, which, in turn, requires advanced navigation systems. Lack of required infrastructure for autonomous systems in developing countries is limiting the overall growth of the market.
Sensing systems segment is estimated to account for the largest share of the autonomous navigation market in 2018. Based on solution, the sensing systems segment is estimated to account for the largest share of the autonomous navigation market in 2018.There is increasing demand for autonomous robots which, in turn, has led to a rise in the demand for sensors for navigation.
This is due to the fusion of the sensor data on which machine intelligence can be applied for decision making. These sensing systems include LiDAR, GNSS, Inertial Navigation System (INS), radar, cameras, ultrasonic systems, and acoustic navigation.
Increasing investment in the development of marine autonomous systems is expected to drive the market for marine segment
Based on platform, the marine segment is estimated to account for the largest share of the autonomous navigation market in 2018. Increasing investments in the development of autonomous vessels and autonomous surface vehicles, autonmous underwater vessels has driven its market.
Increasing investment in autonomous robots in the military and commercial sectors is expected to drive the autonomous navigation market in 2018
North America is estimated to account for the largest share of the autonomous navigation market in 2018. The growing technological advancements in the market presents several opportunities for manufacturers of autonomous vehicles.Proximity to the US, one of the largest automotive markets, and the North American Free Trade Agreement (NAFTA) are driving the growth of the Canadian and Mexican automotive sectors.
These factors contribute to the growth of the autonomous vehicles market in the region. In the military sector, increasing usage of military robots such as UAVs for Intelligence, Surveillance, and Reconnaissance is expected to drive the demand for autonomous navigation.
Break-up of profiles of primary participants in the autonomous navigation market • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% • By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% • By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
Key players in the autonomous navigation market are Raytheon (US), Thales (France), Northrop Grumman (US), Safran (France), and Honeywell International (US), among others. These companies provide autonomous navigation in various countries across North America, Europe, Middle East, and Asia Pacific.
Research Coverage: The market study covers the autonomous navigation market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as solution, application, platform, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report: The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall autonomous navigation market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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