Overview and Scope
Autonomous navigation means an ability of a vehicle or rover to design its route and execute it out without human involvement. The purpose of autonomous navigation or guidance is to regulate the vehicle trajectory to maintain it at a constant distance from the adjacent travel line or to arrange the strip side by side under conditions that do not overlap or have gaps.
Sizing and Forecast
The autonomous navigation market size has grown rapidly in recent years. It will grow from $4.46 billion in 2023 to $5.33 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to development of ai and machine learning, global positioning systems (gps) evolution, regulatory support and frameworks, automotive industry growth, rise in demand for automation..
The autonomous navigation market size is expected to see rapid growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to safety and efficiency priorities, continued automotive industry innovation, regulatory and policy frameworks, enhanced positioning systems.. Major trends in the forecast period include regulatory environment and standards, cost reduction strategies, safety and risk mitigation, industry-specific applications..
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Segmentation & Regional Insights
The autonomous navigation market covered in this report is segmented –
1) By Solution: Sensing System, Software, Processing Unit
2) By Platform: Airborne, Land, Space, Marine, Weapon
3) By Application: Commercial, Military and Government
North America was the largest region in the autonomous navigation market share in 2023. The regions covered in the autonomous navigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
High demand for robots is expected to propel the growth of the autonomous navigation market going forward. Robots refer to any autonomously run system that substitutes human effort. Robot helps workers from dangerous activities by allowing them to manoeuvre without clashing with impediments and remain focused on several interventions. Such benefits from robots have increased the demand for autonomous navigation system to attain such crucial functionalities. For instance, in October 2022, according to a report released by the International Federation of Robotics, industrial robot sales returned rapidly in 2021 with globally, 384000 units were shipped. The global robot installations are expected to rebound strongly and grow by 13% to 435, 000 units in 2021. Additionally, America's sales increased by 27% to 44, 300 units sold. Asia and Australia saw the most growth in demand, with installations climbing 33% to 354, 500 units. Therefore, the high demand for robots will drive the development of the autonomous navigation market.
Key Industry Players
Major companies operating in the autonomous navigation market report are Honeywell International Inc., Thales Group, Raytheon Company, Northrop Grumman Corporation, Furuno Electric Co Ltd., Moog Inc., Rolls-Royce Holdings plc, Kongsberg Group, Trimble Inc., ABB Ltd., RH Marine Group, Safran S.A, General Dynamics Corporation, L3 Technologies Inc., Collins Aerospace, Activ Surgical, Albora Technologies Limited, Starfish Space, Blickfeld, Caterpillar Inc., Charles River Analytics, Elbit Systems, Ghost Robotics, Fixposition AG, Xona Space Systems, Blue River Technology, Brain Corp., Clearpath Robotics, Embark Trucks, Fetch Robotics
The autonomous navigation market report table of contents includes:
- Executive Summary
- Autonomous Navigation Market Characteristics
- Autonomous Navigation Market Trends And Strategies
- Autonomous Navigation Market - Macro Economic Scenario
- Global Autonomous Navigation Market Size and Growth
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- Global Autonomous Navigation Market Competitive Benchmarking
- Global Autonomous Navigation Market Competitive Dashboard
- Key Mergers And Acquisitions In The Autonomous Navigation Market
- Autonomous Navigation Market Future Outlook and Potential Analysis
- Appendix
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Top Major Players:
- Honeywell International Inc
- Thales Group
- Raytheon Company
- Northrop Grumman Corporation
- Furuno Electric Co Ltd
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