The Military GPS Receivers Market is likely to rise at a CAGR of 7.8% during 2023-2028, to reach US$ 0.9 billion in 2028, states Stratview Research.
DETROIT, Nov. 15, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the military GPS receivers market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | US$ 0.9 Billion in 2028 |
Growth (CAGR) | 7.8 % during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2017-2021 |
Base Year | 2022 |
Number of Segments Covered | 4 |
Number of Tables & Graphs | 60+ |
Country-Level Market Assessment | 20 |
Segment Insights on Military GPS Receivers Market
The military GPS receivers market is segmented based on product type, frequency type, application type, and region.
Based on product type- The military GPS receiver market is segmented into P(Y) Code GPS receivers and M-Code GPS receivers. Ever since the commencement of the sales of M-Code GPS receivers, 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 existing and emerging threats to GPS such as jamming and spoofing. Therefore, it is estimated that the M-Code GPS receivers will completely replace the P(Y) Code receivers in the coming decade.
Based on frequency type- The market is segmented into single-frequency GPS receivers and dual-frequency GPS receivers. Dual-frequency GPS receivers are widely used over their single-frequency counterparts due to their greater accuracy and greater resistance to multipath errors, which are fairly common for the latter. Furthermore, if any one of the two frequencies fails, the other one works as a backup, thus ensuring uninterrupted signal transmission.
Based on application type- The military GPS receiver market is segmented into aviation-based GPS receivers, ground-based GPS receivers, PGM-based GPS receivers, handheld GPS receivers, and maritime equipment-based GPS receivers. Among these application types, thePGM-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, fueling the market growth.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for military GPS receivers market during the forecast period. This growth is majorly attributed to the following -
- 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.
Military GPS Receivers Market Drivers
Some of the key drivers listed in the report are given below.
- The usage of military GPS receivers is expanding around the world as several military missions and operations rely heavily on the transmission of real-time data, thereby, augmenting the growth of the overall industry.
- These GPS-enabled devices not only provide accurate target tracking and route navigation but also offer precise digital mapping solutions.
- The global rise in border disputes and terrorist threats, many countries are focusing on improving the capabilities of their military forces, which has resulted in a significant increase in the overall deployment of military GPS receivers in recent years.
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Top 10 Companies in Military GPS Receivers Market?
In recent years, there has been competition in the military GPS receiver market. Moreover, there is a high consolidation in the market with the top companies capturing a mammoth market share. The growth of companies in this market is widely influenced by their financial position, technological expertise, and government support. Most of the players engage in the provision of both P(Y) Code and M-Code GPS receivers. Some of the companies also manufacture ASIC chips for their GPS receiver cards and some of them also supply them to their customers as well. Some major M&A activities within the market space in recent years (such as the purchase of the GPS receiver business unit of Collins Aerospace by BAE Systems, the merger of United Technologies and Raytheon, and the all-stock merger of L3 Technologies and Harris Corporation) have resulted in some significant changes in the competitive landscape. The following are the major players in the military GPS receiver's market:
- BAE Systems
- Raytheon Technologies Corporation
- Trimble Inc.
- L3Harris Technologies, Inc.
- General Dynamics Corporation
- Thales Group
- Israel Aerospace Industries
- Mayflower Communications
- Hertz Systems
- Juniper Systems, Inc.
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth Analysis of the Military GPS Receivers Market |
How lucrative is the future? | Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market segment analysis and forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirement? | 10% free customization |
Related reports which might be useful:
- Military GNSS Receivers Market
- Ground Tactical Radio Market
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