The autonomous navigation market was valued at USD 2,461.37 Million in 2020, and it is expected to reach a value of USD 8,998.12 Million by 2027, at a CAGR of 17.63% over the forecast period (2020 - 2027).
The autonomous navigation system is a collection of complex systems that assist in making decisions based on their surroundings and operating the vehicle accordingly without the need for human interaction. It can be found in drones, robots, cars, boats, and other vehicles. For accurate and safe vehicle navigation, modern technologies and autonomous navigation algorithms are used in navigation systems technology. For successful autonomous navigation based on a robot operating system, systems such as inertial navigation, global navigation satellite systems (GNSS), radars, LiDARs, cameras, odometers, barometers, ultrasonic sensors, and infrared sensors are used.
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Autonomous Navigation Market Segmental Analysis
The global autonomous navigation market is segmented on the basis of solution, platform, and application. Based on the solution, the market is segmented as Sensing System, Software, Processing Unit. Based on the platform, the market is segmented as Airborne, Land, Space, Marine, Weapon. Based on the application, the market is segmented as Commercial, Military & Government. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA. Know more https://skyquestt.com/report/autonomous-navigation-market
Analysis by Solution
In 2021, the software segment of the market is projected to hold the most lucrative share of more than 20% in the market. In autonomous vehicles, data analysis and management software is utilized to perform duties such as smooth mobility, health monitoring, and collision avoidance. The system's software is in charge of performing complex procedures as well as offering learning capabilities. Hence, this contributes to the segmental growth of the market during the forecast period.
Analysis by Application
In 2021, the commercial segment of the market is projected to hold the most lucrative share of more than 20% in the market. Commercial includes all autonomous systems integrated into the aviation, automotive, logistics, and marine industries. Attributing to the various ongoing research and developments in robotics, computer vision, artificial intelligence, and edge computing capabilities, this market is likely to increase significantly in the future. The potential for improving output while lowering costs is projected to drive demand for autonomous systems in the future.
Top Players Company Profiles
- Raytheon (US)
- Thales (France)
- Northrop Grumman (US)
- Safran (France)
- Honeywell International (US)
- ABB Ltd. (US)
- Rockwell Collins (US)
- Moog (US)
- Rolls-Royce (UK)
- Kongsberg Gruppen (Norway)
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