Global Autonomous Navigation Seen Soaring 15.56% Growth to Reach USD Million by 2032, Projects Univdatos Market Insights
- Vikas Kumar
- October 14, 2024
- Aerospace and Defence, NEWS
- 0 Comments
According to a new report by Univdatos Market Insights, Autonomous Navigation Market is expected to reach USD Million in 2032 by growing at a CAGR of 15.56%. The rising demand for Autonomous Navigation is due to key factors such as driverless cars, guided munitions, autopilot aircraft, etc., that have contributed to the growth.
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Growing Demand:
The demand for new-age weapons that can strike in far-off locations with precision has led to the rising demand for autonomous weapon technology. These autonomous weapons include multi-barrel rocket launch systems, cruise missiles, ballistic missiles, self-propelled artillery weapons, smart weapons, smart torpedoes, etc. These weapons deploy various on-board sensors such as ring-laser gyroscope, laser guidance systems, inertial navigation, satellite navigation data, etc., in order to self-steer to a pre-determined path and improve the accuracy of strike. In line with this many of the leading militaries across the globe have started demanding and procuring precision-guided missiles and other weapons in order to improve their war preparedness. For instance, in 2024, Lockheed Martin announced that it had secured an order for guided munition from the United States for a total worth of USD 3.43 billion. The deal included a guided multiple-launch rocket system that can be compatible with HIMARS and MLRS M270 launchers.
In another instance, in 2024, the government of Japan announced to purchase of 400 tomahawk missiles from the US. The total cost of the purchase was USD 2.35 billion for Block 4 and Block 5 tomahawk missiles.
Considering the rising demand for autonomous weapons across the leading militaries coinciding with their focus on improving their strike effectiveness the demand for Autonomous navigation systems across the globe is further anticipated to rise during the forecasted years i.e., 2024-2032.
Applications:
Autonomous navigation offers a load of functionality to the platform in which it is being integrated. Within the most used sector i.e., aerospace, autonomous navigation is being used for the autopilot in commercial aircraft. Within the military jets, the usage of auto-pilot is crucial along with the weapons handling. Similarly, weapon technology has jumped leaps and bounds with the integration of autonomous navigation which has provided guidance to self-steers in order to follow the predetermined path and hit the targets accurately.
These guidance systems along with the combination of onboard hardware sensors and software have been instrumental parts of the guided munition and are extensively being demanded by the major militaries across the globe.
Growing Focus Towards Autonomous Aircraft:
The demand for autonomous aircraft for military and commercial applications is a key factor that would be crucial for the growth of the global autonomous navigation market. Furthermore, drone technology is being used for reconnaissance, weapon delivery, monitoring, long-endurance missions, etc. Considering the usage of drones autonomously many of the leading militaries across the globe are adopting the same as it reduces the risk of losing pilots in active combat missions.
Further, in recent years many of the largest drone acquisition plans have been announced which would be instrumental for the growth of the global autonomous navigation system market. For instance, in 2024, Andruil Industries received an order of drones from the Pentagon for a total cost of USD 250.
In another instance, the government of India announced to purchase of 31 MQ9-B Predator drones with a total cost of USD 3.1 billion.
Considering all the shifts the demand for autonomous drones in the coming years will fuel the demand for the autonomous navigation market during 2024-2032.
Click here to view the Report Description & TOC https://univdatos.com/report/autonomous-navigation-market/
Conclusion:
In conclusion, the Global Autonomous Navigation market is further anticipated to exhibit growth in the coming years, due to the rising demand from well-established industries such as commercial and military aircraft, weapons, marine, space industries, etc. Additionally, a new demand is further anticipated from the upsurge in drone and autonomous driving technologies which are rapidly adopting self-steer technologies on a commercial scale.
Furthermore, many of the emerging economies across the globe as China, India, Indonesia, etc., are focusing on building their domestic aerospace manufacturing capabilities which would be crucial for the upcoming rise in the demand for the autonomous navigation market during 2024-2032.
