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Global Military GPS-GNSS Devices Market to Grow at 2.73% CAGR to Reach US$25.7 Bn by 2027

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Global Military GPS-GNSS Devices Market to Grow at 2.73% CAGR to Reach US$25.7 Bn by 2027

November 29
20:01 2017

Global Military GPS-GNSS Devices Market 2017-2027
Global Military GPS-GNSS Devices market is expected to value US$2.1 Billion in 2017 and is expected to increase to US$2.8 Billion by 2027, growing at a CAGR of 2.73% during the forecast period. The cumulative market for global expenditure on Military GPS-GNSS devices will reach US$25.7 Billion over the forecast period.

The global military GPS-GNSS Devices market is expected to grow at a CAGR of 2.73% over the forecast period. The market consists of four categories: Land Based GPS/GNSS, Air Based GPS/GNSS, Munition Guiding GPS/GNSS, and Naval GPS/GNSS. Land based GPS/GNSS is expected to account for the largest share of expenditure globally, with a market share of 71.3%, followed by Munition Guiding GPS/GNSS with a share of 16.5%. The Air based GPS/GNSS segment is expected to account for 10.8% of the sector over the forecast period, and the remaining 1.3% share is accounted for by Naval based GPS/GNSS. Manufacturers are now using a number of navigation systems, in addition to GPS systems, and this has led to large scale procurement globally. Over the last decade this increased usage has allowed GPS technology to move up several notches with the development of software applications offering a number of services in addition to navigation and tracking; examples include target acquisition, missile guidance, search and rescue, coordinate bombing, precision survey, instrument approach, range instrumentation, remotely piloted vehicle operations, bare base operations, close air support, command and control, and the location of enemy radar

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Over the last decade this increased usage has allowed, GPS technology to move up several notches with the development of a number of software applications offering a number of services in addition to navigation and tracking; examples include target acquisition, missile guidance, search and rescue, coordinate bombing, precision survey, instrument approach, range instrumentation, remotely piloted vehicle operations, bare base operations, close air support, command and control and the location of enemy radar. 

Asia Pacific is projected to dominate the Military GPS-GNSS Devices market, with a share of 34.8% over the forecast period, followed by North America with a share of 23.3%, and Europe with 22.9%. The troubled Middle Eastern region is projected to be a attractive market for Military GPS-GNSS Devices sector and account for a share of 11.5%, followed by the Latin American and African markets with share of 3.7% each.

Inquire about this report at: https://www.themarketreports.com/report/ask-your-query/715141

Reason to Buy:

 

  • Determine prospective investment areas based on a detailed trend analysis of the global military GPS-GNSS Devices market over the next ten years
  • Gain in-depth understanding about the underlying factors driving demand for different military GPS-GNSS Devices segments in the top spending countries across the world and identify the opportunities offered by each of them
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
  • Identify the major channels that are driving the global military GPS-GNSS Devices market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military GPS-GNSS Devices market
  • Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top GPS-GNSS Devices providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

Purchase this premium report at: https://www.themarketreports.com/report/buy-now/715141

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