Military Gps Receivers Market is Projected to Reach US$ 830.8 Million in 2027
Military Gps Receivers Market is expected to reach US$ 830.8 Million in 2027, growing at a CAGR of 8.2% during 2022- 2027, reports Stratview Research.
Raipur, Dec. 10, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Military Gps Receivers Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Military Gps Receivers Market is driven by a host of factors, some of which are noted below:
Rise in border disputes and terrorist threats
Military missions and operations
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Military Gps Receivers Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Product Type (P(Y) Code GPS Receivers and M-Code GPS Receivers),
By Application Type (Aviation-based, Ground-based, Precision Guided Munition (PGM)-based, Handheld, and Maritime Equipment-based),
By Frequency Type (Single Frequency GPS Receivers and Dual-Frequency GPS Receivers),
By Region (North America, Asia-Pacific, Europe, and Rest of the World)
Military Gps Receivers Market Insights
By Product Type
The market is segmented as P(Y) Code GPS receivers and M-Code GPS receivers. Between these product types, the M-Code GPS receiver is likely to be the key product type in the foreseen future. Ever since the inception of M-Code GPS receivers in February 2021, their sales have been increasing exponentially, eroding the market share of the traditionally used P (Y) Code receivers. These advanced devices are designed to enhance the PNT capabilities of armed units and provide improved resistance to the existing and emerging threats to GPS such as jamming and spoofing. Therefore, it is estimated that the M-Code GPS receivers would completely replace the P(Y) Code receivers in the coming decade.
By Application Type
The market is classified as aviation-based, ground-based, PGM-based, handheld, and maritime equipment-based GPS receivers. Among these application types, the PGM-based application is estimated to remain the supreme market leader for military GPS receivers in the coming years, as these GPS systems form an essential component in the PGMs (such as missiles, bombs, and projectiles). Moreover, with the increasing hostilities across the globe, the demand for PGMs has been increasing manifold, thereby fuelling the market growth.
By Frequency Type
The market is bifurcated into single-frequency and dual-frequency GPS receivers. Dual-frequency GPS receivers are widely used over their single-frequency counterpart due to their greater accuracy and greater resistance to multipath errors, which are fairly common for the latter. Furthermore, in case, any one of the two frequencies fails, the other one works as the backup, thus ensuring uninterrupted signal transmission.
Which region offers the best opportunity and growth?
North America is likely to remain the largest market for military GPS receivers over the forecast period, with the USA accounting for more than three-fourths of the overall market.
The country has been extensively investing in military GPS receivers to enhance the overall capabilities of its armed forces. Furthermore, market-leading companies, such as BAE Systems, L3Harris Technologies, Inc., and Raytheon Corporation, are present in the region, giving North America an unrivaled advantage over other regions.
COVID-19 Impact on the Military Gps Receivers Market
The COVID-19 pandemic has positively impacted the global Military Gps Receivers Market. During the pandemic, major manufacturers used a variety of strategies to increase their market share in the broader marketplace, including product launches, product improvements, and R&D spending.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2882/military-gps-receivers-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
BAE Systems
Thales
L3Harris Technologies, Inc.
Raytheon Technologies Corporation
General Dynamics Corporation
What deliverables will you get in this report?
In-depth analysis of the Military Gps Receivers Market
Detailed market segmentation.
Competitive-landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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