The report "Assured PNT Market by Platform (Fighter Aircraft, Military helicopters, unmanned Vehicles, Combat Vehicles, Soldiers, Submarines, Corvettes, Destroyers, and Frigates), End User (Defense, Homeland Security), Component and Region - Global forecast to 2027" The assured PNT market has been segmented by component, platform, end user, and region. The global market is projected to grow from an estimated USD 0.4 billion in 2022 to USD 1.7 billion by 2027, at a CAGR of 29.8% during the forecast period.
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The increasing focus on enhancing advanced navigating capabilities for the reduction of casualties, the rising need for modernization programs, and increasing incidences of asymmetric warfare are major factors driving the assured PNT market. Countries across the world are investing in the development of missile systems, such as ballistic missiles and cruise missiles, which require assured positioning systems for guidance. Thus, the increasing implementation of assured PNT systems in missiles is contributing to the growth of the assured PNT market. Militaries are using smart weapons with advanced tactical-grade military navigation for greater accuracy and lower circular error probability (CEP) to neutralize terrorists and reduce collateral damage.
Based on the end user, the assured PNT market is segmented into defense and homeland security.
The defense segments is the largest growing segment during the forecasted period owing to increasing defense budgets and spending on advanced digital navigation capabilities by several countries. Most of the countries are modernizing their land vehicles (Tier 2 and Tier 3) replacing the existing fleet with advanced capabilities. this in turn is also driving the growth of defense segment in the assured PNT market.
The assured PNT is segmented into land, air and naval based on platform.
The naval platform is forecasted as the fastest growing segment during 2022-2027. The increasing efforts by countries such as US, China and India to develop advanced submarines is one of the driving factors of the segments growth. For instance, In 2019 US has given an order to develop a total of 10 submarines with advanced nuclear capabilities for USD 24 billion. The increasing investments by china in R&D activities related to submarines have also led to a higher number of diesel and nuclear powered vessels. thus rising the demand for submarines is projected to boost the growth of advanced navigation systems that resist jamming and spoofing threats.
The assured PNT regional analysis has been studied over North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
North America accounted for the largest share of the assured PNT market in 2021. This market is led by the US, which is increasingly investing in assured GPS technology to maintain its superiority and overcome the risk of potential threats of spoofing and jamming. In the defense sector, rapid technological advancements are spawning disruptive innovations.
Key Market Players:
The key market players in the assured PNT market are Bae Systems PLC (UK), General Dynamics (US), L3Harris Technologies (US), Northrop Grumman (US), Teledyne Technologies, Inc. (US), Leonardo DRS (US), Lockheed Martin Corporation (US), and Raytheon Technologies (US).
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The Global Pallet Racking Market size was valued at USD 8.2 billion in 2018, which is expected to witness 6.8% CAGR during the forecast period.Global Pallet Racking Market Research Report: Information by System (Conventional, Mobile Racking, Shuttle Racking and Hybrid/Customized Racking), Racking System Type (Cantilever Racking, Selective Racking, Push Back Racking, Drive-In Racking, Pallet Flow Racking, Carton Flow Racking and others), Frame Load Capacity (Up to 5 Ton, 5–15 Ton and Above 15 Ton), End-Use Industry (Automotive, Food & Beverage, Retail, Manufacturing, Warehouse & Logistics and others) and Region (North America, Europe, Asia-Pacific and South America) - Forecast till 2025Market HighlightsThe Global Pallet Racking Market is estimated to witness significant growth during the forecast period owing to the rise in warehousing and logistics industries.
The increase in global trade activities in emerging economies and a rise in trade-related agreements is likely to drive the global pallet racking market.
The growing logistics and warehousing infrastructure and advancement in information technology and transportation industries are the prime factors, which is expected to create a higher demand for pallet racking.The Global Pallet Racking Market size was valued at USD 8.2 billion in 2018, which is expected to witness 6.8% CAGR during the forecast period.Get Free Sample @ https://www.marketresearchfuture.com/reports/pallet-racking-market-8332Regional Analysis:Based on region, the global pallet racking market is segmented as Europe, Asia-Pacific, North America, South America, and Middle East & Africa.
Asia-Pacific is expected to dominate the global market, followed by North America.
The market in Asia-Pacific is primarily driven by growing e-commerce logistics in China and India.The global pallet racking market size was valued at USD 8.2 billion in 2018, which is expected to witness 6.8% CAGR during the forecast period.The global market is segmented, based on system type, into conventional, mobile racking, shuttle racking, and hybrid/customized racking.
The hybrid/customized system is estimated to hold the majority of market share in the forecast period.The global market is segmented, based on racking system type, into cantilever racking, selective racking, push back racking, drive-in racking, pallet flow racking, carton flow racking, and others.
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