Market Size of Armored Vehicle Navigation Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 103.45 Million |
| Market Size (2029) | USD 131.46 Million |
| CAGR (2024 - 2029) | 4.92 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Armored Vehicle Navigation Systems Market Analysis
The Armored Vehicle Navigation Systems Market size is estimated at USD 103.45 million in 2024, and is expected to reach USD 131.46 million by 2029, growing at a CAGR of 4.92% during the forecast period (2024-2029).
The increase in defense expenditure globally has propelled the armored vehicle navigation system market. The major economies, such as the United States, France, and Russia, and emerging economies, such as India and China, have surged their defense expenditures. These countries are heavily investing in the development and procurement of armored vehicles. Moreover, to give fleets increased battle ranges and combat effectiveness, substantial developments are being made in the field of armored vehicle navigation systems. Development and implementation of technologies, such as artificial intelligence and autonomous vehicle technology, are propelling the growth of the market for armored vehicle navigation systems.
Armored Vehicle Navigation Systems Industry Segmentation
An armored vehicle is a technologically advanced vehicle fitted with partial or complete armor plating to protect against bullets, shell fragments, and other projectiles. Armed forces use armored vehicles and move on wheels or continuous tracks. The armored vehicle navigation system is essential to military missions for navigation purposes in enemy territories.
The armored vehicle navigation systems market is segmented by armored vehicle type, navigation system, and geography. By armored vehicle type, the market is segmented into main battle tanks, infantry fighting vehicles, armored personnel carriers, and other armored vehicle types. By navigation system, the market is segmented into inertial navigation systems and satellite navigation systems. The report also covers the market sizes and forecasts for the armored vehicles navigation systems market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Armored Vehicle Type | |
| Main Battle Tanks | |
| Infantry Fighting Vehicles | |
| Armored Personnel Carriers | |
| Other Armored Vehicle Types (Tactical Truck, Bus, MRAP) |
| Navigation System | |
| Inertial Navigation System | |
| Satellite Navigation System |
| Geography | ||||||||
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Armored Vehicle Navigation Systems Market Size Summary
The armored vehicle navigation systems market is experiencing growth driven by increased global defense expenditures, with significant investments from both major and emerging economies. Countries like the United States, France, Russia, India, and China are heavily investing in the development and procurement of armored vehicles, which is boosting the demand for advanced navigation systems. The integration of technologies such as artificial intelligence and autonomous vehicle technology is enhancing the combat effectiveness and operational range of these systems. Additionally, the focus on improving situational awareness through advanced inertial navigation systems, which are less susceptible to GPS jamming and spoofing, is further propelling market growth. The development of sensor technology, including Fiber Optic Gyros, is contributing to the reliability and compactness of these systems, making them suitable for autonomous vehicle applications.
The Asia-Pacific region is a significant contributor to the market's expansion, with countries like Japan, China, India, and South Korea increasing their defense spending to address regional conflicts and terrorism. This has led to a rise in the procurement of armored vehicles and their navigation systems. The market is semi-consolidated, with key players such as Honeywell International Inc., KVH Industries Inc., Safran SA, RTX Corporation, and BAE Systems plc investing in innovative technologies to secure contracts with national governments and defense agencies. The ongoing defense modernization efforts worldwide are expected to sustain the market's growth, as evidenced by recent contracts and collaborations, such as those involving Elbit Systems and the joint production of Stryker armored vehicles by India and the US.
Armored Vehicle Navigation Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Armored Vehicle Type
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2.1.1 Main Battle Tanks
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2.1.2 Infantry Fighting Vehicles
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2.1.3 Armored Personnel Carriers
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2.1.4 Other Armored Vehicle Types (Tactical Truck, Bus, MRAP)
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2.2 Navigation System
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2.2.1 Inertial Navigation System
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2.2.2 Satellite Navigation System
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Australia
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Mexico
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2.3.4.2 Brazil
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2.3.4.3 Rest Of Latin America
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2.3.5 Middle-East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 Israel
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2.3.5.4 Rest of Middle-East and Africa
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Armored Vehicle Navigation Systems Market Size FAQs
How big is the Armored Vehicle Navigation Systems Market?
The Armored Vehicle Navigation Systems Market size is expected to reach USD 103.45 million in 2024 and grow at a CAGR of 4.92% to reach USD 131.46 million by 2029.
What is the current Armored Vehicle Navigation Systems Market size?
In 2024, the Armored Vehicle Navigation Systems Market size is expected to reach USD 103.45 million.
