Report: Global Military GPS-GNSS Devices market projected to grow at a CAGR of 2.73%
The global Military GPS-GNSS Devices market is projected to increase from $2.1bn in 2017 to $2.8bn by 2027, according to a report by SDI.
Titled ‘Global Military GPS-GNSS Devices Market 2017–2027’, the report projects the market to grow at a CAGR of 2.73% during the forecast period.
The multiple benefits offered by GPS technology, and the need for network-centric warfare and situational awareness have led to the increased use of global positioning and navigational devices, as well as associated software in the military.
All military aircraft are equipped with GPS systems with complex capabilities such as anti-jamming features, which is leading to higher expenditure on GPS / GNSS systems.
The procurement of GPS / GNSSS devices, however, is dependent on the procurement of other military equipment such as aircraft, helicopters and armoured vehicles.
The majority of countries are now primarily focusing on strengthening their armies. Land-based GPS / GNSS systems are, therefore, expected to dominate the GPS-GNSS devices market.
Land-based systems are estimated to account for 71.3% of the market, followed by Munition Guided GPS / GNSS with a share of 16.5%, the report adds.