Global Defense Navigation Market Industry Analysis And Forecast (2016-2024)
Global Defense Navigation Market is projected to reach USD 14.61 billion by 2024 from USD 9.1 billion in 2016, exhibiting a CAGR of 6.51% during 2016-2024.
Global Defense Navigation Market is segmented by Platform type, Technology, Application, and Region. In case of the platform, space segment of the Global Defense Navigation Market is projected to have maximum growth rate during the forecast period. Rising demand for earth observation, navigation services, and communication satellites is expected to drive the growth of the space segment. Space segment contains activities for monitoring the Earths surface to obtain valuable information for mapping, mineral exploration, land-use planning, and supply management, among others. Ammunition segment dominated Global Defense Navigation Market in 2016 due to the rise in demand for Global Defense Navigation Market for missiles and rockets from militaries. For example, Hydra-70 rockets are able to fire from a variety of rotary and fixed-wing platforms, counting US Armys Apache, US Marine Corps Cobra attack helicopters, and F-16s
By application, intelligence, surveillance, and reconnaissance segment of Global Defense Navigation Market are predicted to grow at the highest CAGR during the forecast period. The growth of the application segment can be credited to the increased requirement for situational awareness in defense acts and increasing use of geospatial intelligence. Intelligence is considered a crucial Defense capability as it acts ....