To increase the safety, operating efficiency, and situational awareness of armoured vehicles in challenging terrain, a specialist technology known as an Armoured Vehicle Navigation technology (AVNS) was developed. It combines GPS, inertial navigation, and often military-grade sensors to enable real-time tracking, route planning, and obstacle recognition. The method enables accurate navigation even in scenarios where GPS signals may be weak or interfered with by integrating data from multiple sources. AVNS may also include threat identification capabilities, digital mapping, and communication channels with command centres to help with battle situations. This integrated navigation system enables armoured vehicles to traverse swiftly and safely, reducing hazards in hostile or unexplored areas and facilitating mission accomplishment.
According to SPER Market Research, ‘Global Armored Vehicle Navigation System Market Size- By Armored Vehicle Type, By Navigation System - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Armored Vehicle Navigation System Market is estimated to reach USD 161.01 billion by 2033 with a CAGR of 5.2%.
Drivers: The market is growing as a result of the rapid advancements in navigation technology, including satellite-based systems, inertial navigation systems, and digital compasses. The increase in global defence spending has also fuelled the demand for armoured vehicle navigation systems. In order to give fleets more combat effectiveness and fighting range, significant developments are being made in the field of armoured vehicle navigation systems. Because of the advancement and utilisation of technology like artificial intelligence and driverless cars, the market is growing. For precision-guided weapon systems to ensure successful target acquisition and engagement, accurate and reliable navigation technologies are required. These reasons are the main drivers of the growth of the global market for armoured vehicle navigation systems.
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Restraints: The high costs of research and development are a major barrier to the growth of the global market for armoured vehicle navigation systems. Developing state-of-the-art armoured vehicles with the newest technologies requires massive R&D expenses. It takes years of careful study and testing to create a robust and durable armoured vehicle navigation system that can effectively counter a range of challenges on the modern battlefield. The Armoured Vehicle Navigation System makes use of several essential components and materials that are very expensive and specialised. Therefore, the high costs associated with developing and purchasing advanced navigation systems act as a barrier to industry expansion. Cybersecurity threats are another challenge as a result of the increased reliance on digital navigation systems.
Impact of COVID-19 on Global Armored Vehicle Navigation System Market
At first, the pandemic disrupted the global supply chain by delaying procurement processes and preventing production in several regions. However, as defence spending in a number of countries proved to be sustainable, the market began to gradually recover. The outbreak demonstrated the critical role that advanced navigation systems play in critical military operations, especially those that involve logistical support, humanitarian aid, and disaster relief. Despite this, the economic consequences of COVID-19 have led to budgetary constraints and a shift in the priorities for defence spending as governments grapple with post-pandemic economic challenges. These factors can affect the short-term growth prospects of the global market for armoured vehicle navigation systems, necessitating adjustments from industry players.
Armored Vehicle Navigation System Market Key Players:
North America dominated the Global Armored Vehicle Navigation System Market due to the significant defense budgets. Major players in the market are Safran SA, KVH Industries Inc., Hertz Systems, Israel Aerospace Industries Ltd., Bharat Electronics Limited (BEL).
Global Armored Vehicle Navigation System Market Segmentation:
By Armored Vehicle Type: Based on the Global Armored Vehicle Navigation System Market, Global Armored Vehicle Navigation System Market is segmented as; Main Battle Tanks, Infantry Fighting Vehicles, Armored Personnel Carriers, Other Armored Vehicle Types (Tactical Truck, Bus, MRAP).
By Navigation System: Based on the Navigation System, Global Armored Vehicle Navigation System Market is segmented as; Inertial Navigation System, Satellite Navigation System.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Armored Vehicle Navigation System Market Outlook
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