Increasing Range of Military Applications for GPS/GNSS Devices Facilitated by Advances in Technology will Drive Market Growth for the Next Decade
Global spending on GPS/GNSS systems and devices is expected to remain robust over the coming decade, according to Strategic Defence Intelligence new report – The Global Military GPS/GNSS Devices Market 2013-2023 – which forecasts market growth at a CAGR of 4.6%, primarily driven by their extensive use alongside associated software in modern or fourth-generation warfare.
The increasing breadth of uses for GPS technology, which now sees systems evident in virtually every operational aspect of a country’s armed forces, will further drive the market, with auto-landing for aircraft, GPS embedded uniforms, and the development of GPS guided parachutes just some of the wide range of military applications for GPS technology that will help precipitate growth through to 2023.
The Global Military GPS/GNSS Market 2013-2023
The austerity measures adopted by a number of western countries – such as the US, Germany, France, Italy and the UK – are however expected to adversely affect the growth rates in the sector. Whilst the continued fallout of the global economic crisis are set to remain a detrimental factor to the market’s growth, this impact is predicted to taper off towards the end of the coming decade.
KEY MARKET DRIVERS
To capitalize on the opportunities presented by market growth, organizations with a vested interest in the global GPS/GNSS Devices market must remain sensitive to the key drivers of the market, thereby facilitating informed business decisions that maximize profits with minimized risk.
Advancement in Anti-Jamming
The recent increase in jamming and spoofing activities has resulted in the creation of a relatively new market in the sector, that of the anti-jamming devices and related systems. The illegal sale of jamming devices on the Internet, and their subsequent proliferation, particularly by rogue nations and terrorist outfits, has made their purchase almost mandatory by countries across the world. Products are now being launched to counter these threats, either by overcoming jamming signals, or locating their source. This is expected to act as a significant driver on the global military GPS/GNSS market to 2023.
Increased Expenditure on Satellite Navigation Programs
A satellite navigation system provides GPS positioning from a global perspective, and is thus of utmost importance for modern day military operations which rely on accurate real time data relating to hostile forces in order to carry out precision attacks. It is here that GPS/GNSS devices assume an important role, as they are imperative in the transfer of signals from satellites back to stations on earth.
As a result, several major defense spenders across the globe – including India, China, Russia, and the UK – have now launched, or initiated the development of satellite navigation systems. This is driven by the desire of militaries to cover more areas and derive as much accurate information by a range of GNSS receivers/sensors in the shortest possible time. It is also worth noting that the commercial use of this technology for non-combat purposes is increasing, and is expected to encourage expenditure by helping to lower the overall costs of GNSS/GPS receivers
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Source : ASDReports - Market Research
May 19 - 20, 2016 - Budapest, Hungary