$12.9 Billion Autonomous Navigation Markets, 2028: Increasing Adoption in Commercial and Military Applications Fuels Growth with Raytheon, Thales, Northrop Grumman, Safran, and Honeywell Dominating
The market's growth is driven by the increasing adoption of autonomous robots in logistics and commercial and military applications.
DUBLIN, Aug. 10, 2023 /PRNewswire/ -- The "Autonomous Navigation Market by Solution (Hardware, and Software), Platform (Airborne (Autonomous Aircraft, Autonomous Drones), Land, Marine, Space, Weapons), Application (Commercial, Military & Government), Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Autonomous navigation is estimated to be USD 6.0 billion in 2023 and is projected to reach USD 12.9 billion by 2028, at a CAGR of 16.4%
The Autonomous navigation market study encompasses an extensive analysis of various segments and subsegments, aiming to estimate its size and growth potential based on solutions, platforms, applications, and regions.
The market's growth is driven by the increasing adoption of autonomous robots in logistics and commercial and military applications. However, challenges such as unproven performance in unfamiliar environments and inadequate high-level interfacing hinder overall market growth.
The Asia Pacific region emerges as a significant player in the autonomous navigation market, showcasing remarkable progress through technological advancements and substantial investments, leading to the integration of autonomous vehicles, drones, and robotic systems across various sectors.
Key companies like Raytheon Technologies Corporation, Thales Group, Northrop Grumman Corporation, Safran SA, and Honeywell International Inc. dominate the market through their investments and innovations.
Airborne: The second largest share in the platform segment in the autonomous navigation market in 2023.
The airborne segment is projected to have the second-largest share in 2023. Airborne autonomous navigation has rapidly progressed, fueled by advancements in sensor technology, artificial intelligence, and connectivity. Unmanned aerial vehicles (UAVs) now possess the ability to navigate independently, transforming various sectors.
Aerial surveillance, package delivery, and search and rescue operations benefit from the enhanced efficiency, safety, and scalability offered by autonomous UAVs. Continual advancements in this field hold immense potential for revolutionizing industries and reshaping our understanding and utilization of airspace.
Commercial: The second largest share in the application segment in the autonomous navigation market in 2023.
The commercial segment is projected to have the second-largest share in 2023. The commercial segment includes all the autonomous robots used in sectors such as aviation, automotive, logistics, and marine.
The commercial segment is expected to increase tremendously in the future owing to the continuous research and development in robotics, computer vision, artificial intelligence, and edge computing capabilities.
The demand for robotics in agriculture is also expected to grow in the future due to the potential for increasing output while reducing cost.
Premium Insights
- Widespread Adoption of Autonomous Platforms in Commercial and Military Applications to Drive Market
- Commercial Segment to Lead Market by 2028
- Software Segment to Lead Market During Forecast Period
- Marine Segment to Dominate Market During Forecast Period
Market Dynamics
Drivers
- Incorporation of Advanced Sense and Avoid Systems in Unmanned Vehicles
- Widespread Adoption of Autonomous Robots for Commercial and Military Applications
- Improved Safety and Efficiency with Autonomous Navigation Technology
- Rising Adoption of Autonomous Robots for Logistic Operations
Restraints
- Unproven Performance in Unfamiliar Environments and Inadequate High-Level Interfacing
- Lack of Required Infrastructure for Autonomous Systems in Emerging Economies
Opportunities
- Increasing Adoption of 5G and Ai
- Growing Efforts Aimed at Advancing Autonomous Systems
- Assistance and Services Offered by Autonomous Robots
Challenges
- Vulnerability of Autonomous Systems to Cyber Threats due to Automation
- Potential Cyberattack Routes for Marine Vessels
- Unclear Regulatory Framework for Use of Autonomous Systems
Autonomous Navigation Market Ecosystem
- Prominent Companies
- Private and Small Enterprises
- End-Use Industries
Industry Trends
Key Technological Trends in Autonomous Navigation Market
- Navigation Technology for Autonomous Systems
- Sensor Fusion Solutions
- Control Algorithms
- Research on Standard Operating Systems for Robots
- Micro-Electro-Mechanical Systems-Based Inertial Navigation Systems
- High-End Inertial Navigation Systems
Use Case Analysis
- Autonomous Delivery Drones in Urban Environments
- Autonomous Mining Trucks in Open-Pit Mines
Impact of Megatrends
- Artificial Intelligence
- Big Data Analytics
- Satellite Navigation
Company Profiles
Key Players
- Raytheon Technologies Corporation
- Honeywell International Inc.
- Northrop Grumman Corporation
- Thales Group
- Safran Sa
- Abb
- L3Harris Technologies, Inc.
- General Dynamics Corporation
- Rolls-Royce plc
- Moog Inc.
- Kongsberg Gruppen Asa
- Rh Marine
- Trimble Inc.
- Furuno Electric Co., Ltd.
Other Players
- Shield Ai
- Skydio, Inc.
- Near Earth Autonomy Inc.
- Clearpath Robotics Inc.
- Bluebotics
- Velodyne Lidar, Inc.
- Leddartech Inc.
- Novatel Inc.
- Sea Machines
- Autonodyne LLC
For more information about this report visit https://www.researchandmarkets.com/r/ynis5y
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