Armored Vehicle Navigation Systems Market Size (2024 - 2029)

The market size for armored vehicle navigation systems is experiencing growth driven by increased global defense expenditure. Major and emerging economies are significantly investing in armored vehicle development and procurement, which is enhancing the demand for advanced navigation systems. The integration of technologies like artificial intelligence and autonomous vehicle technology is further propelling the market, as these advancements aim to improve battle ranges and combat effectiveness of armored fleets.

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Market Size of Armored Vehicle Navigation Systems Industry

Armored Vehicle Navigation Systems Market Summary
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

Armored Vehicle Navigation Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest Of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Israel
Rest of Middle-East and Africa
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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.

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Armored Vehicle Navigation Systems Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Armored Vehicle Type

      1. 2.1.1 Main Battle Tanks

      2. 2.1.2 Infantry Fighting Vehicles

      3. 2.1.3 Armored Personnel Carriers

      4. 2.1.4 Other Armored Vehicle Types (Tactical Truck, Bus, MRAP)

    2. 2.2 Navigation System

      1. 2.2.1 Inertial Navigation System

      2. 2.2.2 Satellite Navigation System

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Australia

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Mexico

        2. 2.3.4.2 Brazil

        3. 2.3.4.3 Rest Of Latin America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Israel

        4. 2.3.5.4 Rest of Middle-East and Africa

Armored Vehicle Navigation Systems Market Size FAQs

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.

In 2024, the Armored Vehicle Navigation Systems Market size is expected to reach USD 103.45 million.

Armored Vehicle Navigation Systems Market Report Snapshots

Armored Vehicle Navigation Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)