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Global Military GPS-GNSS Devices Market to Reach $2.8 Billion by 2027
August 28, 2017 | Business WireEstimated reading time: Less than a minute
Global Military GPS-GNSS Devices market is expected to value US$2.1 Billion in 2017 and is expected to increase to US$2.8 Billion by 2027, growing at a CAGR of 2.73% during the forecast period. The cumulative market for global expenditure on Military GPS-GNSS devices will reach US$25.7 Billion over the forecast period.
Over the last decade this increased usage has allowed, GPS technology to move up several notches with the development of a number of software applications offering a number of services in addition to navigation and tracking; examples include target acquisition, missile guidance, search and rescue, coordinate bombing, precision survey, instrument approach, range instrumentation, remotely piloted vehicle operations, bare base operations, close air support, command and control and the location of enemy radar.
Asia Pacific is projected to dominate the Military GPS-GNSS Devices market, with a share of 34.8% over the forecast period, followed by North America with a share of 23.3%, and Europe with 22.9%. The troubled Middle Eastern region is projected to be a attractive market for Military GPS-GNSS Devices sector and account for a share of 11.5%, followed by the Latin American and African markets with share of 3.7% each.
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