How big is the Military Navigation Systems Market?

The Military Navigation Systems Market size is expected to reach USD 9.25 billion in 2024 and grow at a CAGR of 5.37% to reach USD 12.02 billion by 2029. Read More

What is the current Military Navigation Systems Market size?

In 2024, the Military Navigation Systems Market size is expected to reach USD 9.25 billion. Read More

Who are the key players in Military Navigation Systems Market?

Northrop Grumman Corporation, Safran, Elbit Systems Ltd., Honeywell International Inc. and THALES are the major companies operating in the Military Navigation Systems Market. Read More

Which is the fastest growing region in Military Navigation Systems Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Military Navigation Systems Market?

In 2024, the North America accounts for the largest market share in Military Navigation Systems Market. Read More

What years does this Military Navigation Systems Market cover, and what was the market size in 2023?

In 2023, the Military Navigation Systems Market size was estimated at USD 8.75 billion. The report covers the Military Navigation Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Military Navigation Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Military Navigation Systems Market - Size, Share & Forecast

Military Navigation Systems Industry Overview

The military navigation systems market is fragmented, with many players in the market who provide various navigation components to different military platforms for diverse military operations. The prominent players in the military navigation systems market are Northrop Grumman Corporation, Safran, THALES, Honeywell International Inc., and Elbit Systems Ltd. To increase their revenue share in the market, the players are developing new products and expanding their product portfolio into various platforms. For instance, Northrop Grumman Corporation provides its navigation and positioning systems to a variety of platforms, such as fixed and rotary-winged aircraft, ships, underwater vehicles, land vehicles, satellites, and missiles. With such a huge portfolio, the company is anticipated to cater to the requirements of various platform manufacturers.

Additionally, the development of new and advanced navigation and positioning systems, with low power consumption, small size, and lightweight, is anticipated to support the growth of the companies. For instance, in January 2023, SandboxAQ, an enterprise SaaS company, was awarded a Direct-to-Phase-II Small Business Innovation Research (SBIR) contract by the US Air Force to research quantum navigation technologies. As per the contract, a prototype of the company AQ quantum-powered sensors will be optimized in close coordination with the US Air Force.

Similarly, in July 2023, Australia's Department of Defence awarded a multi-million contract to Q-CTRL (Australia) to develop quantum sensors for military platforms. The program aims to build quantum-enhanced positioning and navigation capability built on Q-CTRL's software-ruggedized quantum sensing technology. It can detect minute changes in acceleration and gravitational field and also remove noise from the signal.