Dublin, Jan. 12, 2024 (GLOBE NEWSWIRE) -- The "Global Military GPS Receivers Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive insights into the expanding military GPS receivers market which is anticipated to grow at a robust compound annual growth rate (CAGR) of 7.8%, reaching a market valuation of US$ 0.9 billion by the year 2028.
Military GPS receivers, crucial for modern warfare, are designed to meet the stringent requirements of military operations. These devices are integral in providing precise location and navigation services that are resistant to electronic warfare tactics such as jamming and spoofing. With enhanced features like the Selective Availability Anti-Spoofing Module (SAASM) and precision in digital mapping, military GPS receivers are vital for the success of military missions.
The report presents a detailed segment analysis of the market, examining parameters such as product type, frequency type, and applications. With an increased demand for advanced technology, the M-Code GPS receivers segment is expected to lead the market by replacing P(Y)-Code receivers in the future, attributed to their superior anti-jamming and anti-spoofing capabilities. The study further breaks down the market by frequency with dual-frequency GPS receivers being preferred for their accuracy and reliability over single-frequency receivers. In terms of applications, Precision-Guided Munitions (PGMs) lead the demand due to an uptick in global military conflicts and subsequent need for precise weaponry.
Regional Market Overview
North America is projected to remain the dominant force globally, particularly with the United States significantly investing in military GPS technology to bolster its defense capabilities. The presence of industry-leading companies in this region is slated to maintain its competitive edge.
Key Players and Industry Dynamics
The market report notes a consolidated military GPS receivers industry with key players leading the market innovations. Technological advancements, government contracts, mergers and acquisitions are highlighted, delineating an evolving competitive landscape:
- In recent product developments, manufacturers are enhancing the battlefield with the integration of M-Code GPS technology and miniaturization of devices to cater to the needs of armed troops and unmanned aerial vehicles (UAVs).
- Significant investments and contracts in the defense sector for GPS receivers development are propelling the market’s growth, with giant players like BAE Systems securing multi-million dollar contracts.
- The industry has seen major market reshaping through strategic alliances, including mergers and acquisitions such as the landmark merger of Raytheon Corporation with United Technologies Corporation.
Deep-Dive Market Analysis and Growth Strategies
The report is the culmination of an exhaustive research approach, amalgamating extensive secondary research with in-depth primary interviews, corroborated by numerous data sources and statistical tools. The insights garnered from over a thousand validated secondary sources and interviews with key market stakeholders are aimed at assisting market participants and strategists in identifying opportunities and formulating growth trajectories.
In the dynamic security environment where military precision and situational awareness are non-negotiable, this report provides the strategic compass for stakeholders to navigate the market’s burgeoning demand and technological frontiers. The findings of the report are anticipated to serve as a cornerstone for defense authorities, manufacturers, and investors interested in the Military GPS Receivers market and its array of applications in various military operations.
Companies Mentioned
- BAE Systems
- General Dynamics Corporation
- Hertz Systems
- Israel Aerospace Industries
- Juniper Systems Inc.
- L3Harris Technologies, Inc.
- Mayflower Communications
- Raytheon Technologies
- Thales Group
- Trimble, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bbohyy
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