Report ID: UCMIG20A2179
Report ID:
UCMIG20A2179 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size for Assured Positioning, Navigation, and Timing (PNT) exceeded USD 800 million in 2022 and is anticipated to register a robust compound annual growth rate (CAGR) of over 25% from 2023 to 2032. The global landscape has witnessed an escalation in terrorist activities, with a shift from cross-border incidents to targeted attacks in crowded urban areas such as airports and restaurants. To mitigate collateral damage and enhance precision in neutralizing threats, security agencies are adopting smart weapons equipped with advanced military navigation systems. The market is further propelled by the accessibility of cost-effective military navigation components and ongoing modernization initiatives in various countries worldwide.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Aerospace & Defense by segment aggregation, the contribution of the Aerospace & Defense in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG20A2179