The Asia Pacific region is expected to lead the autonomous navigation market from 2018 to 2030
Northbrook, IL -- (SBWIRE) -- 03/14/2019 -- According to the new market research report on the "Autonomous Navigation Market by Solution (Sensing System, Software, Processing Unit), Platform (Airborne, Land, Space, Marine, Weapon), Application (Commercial, Military & Government), and Region - Global Forecast to 2030", published by MarketsandMarkets™ , the Autonomous Navigation Market is estimated at USD 2.2 billion in 2018 and is projected to reach USD 13.5 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 16.19% from 2018 to 2030.
Factors such as the development of sense & avoid systems in autonomous systems, high adoption of autonomous systems for commercial and military purposes, and demand for autonomous robots in logistics are expected to fuel the growth of the autonomous navigation market.
Ask for PDF Brochure:
The software segment to grow at a higher CAGR in the autonomous navigation market during the forecast period
Based on solution, the software segment is estimated to lead the autonomous navigation market during the forecast period. With advancements in technology, artificial intelligence has made most processes easy. Technologies like machine learning (ML) and computer vision are used to train computers to perform specific tasks by processing large volumes of data. AI is gaining momentum because of its ability to add intelligence to existing vehicles. Increasing demand for self-driving cars and autonomous drones is expected to drive the software segment in this market.
Increasing investment in autonomous aircraft is expected to drive the market for airborne autonomous navigation market during the forecast period
Based on platform, the airborne platform segment of the autonomous navigation market is estimated to have the highest CAGR during the forecast period. The advancements within the military & government sector have led to more contracts and partnerships with the manufacturers of airborne systems. This will help this sector procure and utilize autonomous aircraft, autonomous weapons, and autonomous drones for special missions.
Browse in-depth TOC on "Autonomous Navigation Market"
94 – Tables
53 – Figures
158 – Pages
Asia Pacific region shows the highest potential for implementation of autonomous aircraft
The autonomous navigation market in the Asia Pacific region is expected to witness high growth during the forecast period. Increasing awareness about robotics is expected to drive the demand for autonomous systems in the Asia Pacific region. Price is a major factor restraining the adoption of autonomous systems. However, with the increase in demand and reduction in prices of major components such as sensors and processors, the market for autonomous navigation has a promising future in this region.
Speak to our Expert Analyst:
The major players in the autonomous navigation market include Raytheon (US), Thales (France), Northrop Grumman (US), Safran (France), and Honeywell International (US), among others. Raytheon is one of the key market players engaged in securing contracts to increase the sale of autonomous navigation by individual platform available.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062