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    Military Gps Receivers Market Report

    Military Gps Receivers Market Report
    Report code - SR2001 Published On : Jun,2022 No. of Pages: 145
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    Military GPS Receivers Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    Market Highlights

    The usage of military GPS receivers is expanding around the world as several military missions and operations rely heavily on the transmission of real-time data, thereby, augmenting the growth of the overall industry. These GPS-enabled devices not only provide accurate target tracking and route navigation but also offer precise digital mapping solutions. They have become an indispensable component of military forces, enabling precise tracking and targeting for armed troops and units. As a result, the production and procurement of these GPS devices have been gaining momentum in recent years, as they multiply the capabilities of the military forces.

    Furthermore, due to the global rise in border disputes and terrorist threats, many countries are focusing on improving the capabilities of their military forces, which has resulted in a significant increase in the overall development and deployment of military GPS receivers in recent years. Also, several investments and developments in the market have had a significant impact on the market scenario. Some of them are:

    • In June 2021, it was reported that BAE Systems would deliver the first batch of the advanced M-Code GPS receivers to Germany, over a Foreign Military Sales (FMS) contract.
    • In May 2021, the company signed a contract worth US$ 325.5 million, with the US Defense Logistics Agency, for the supply of the advanced M-Code GPS receiver devices to the US Army and its allies.
    • In February 2021, it was reported that the sales of the M-Code military GPS receivers have been initiated. This advanced technology device would likely replace the traditional P(Y) Code receivers in the foreseen future.

    As a result, the overall military GPS receivers’ market is estimated to grow at a robust CAGR of 8.2% during the forecast period to reach a value of US$ 830.8 Million in 2027.

    Market Segments' Analysis

    Based on the product type, the market is segmented as P(Y) Code GPS receivers and M-Code GPS receivers. Between these product types, the M-Code GPS receiver is likely to be the key product type in the foreseen future. Ever since the inception of M-Code GPS receivers in February 2021, their sales have been increasing exponentially, eroding the market share of the traditionally used P (Y) Code receivers. These advanced devices are designed to enhance the PNT capabilities of armed units and provide improved resistance to the existing and emerging threats to GPS such as jamming and spoofing. Therefore, it is estimated that the M-Code GPS receivers would completely replace the P(Y) Code receivers in the coming decade.

    Based on the application type, the market is classified as aviation-based, ground-based, PGM-based, handheld, and maritime equipment-based GPS receivers. Among these application types, the PGM-based application is estimated to remain the supreme market leader for military GPS receivers in the coming years, as these GPS systems form an essential component in the PGMs (such as missiles, bombs, and projectiles). Moreover, with the increasing hostilities across the globe, the demand for PGMs has been increasing manifold, thereby fuelling the market growth.

    Based on the frequency type, the market is bifurcated into single-frequency and dual-frequency GPS receivers. Dual-frequency GPS receivers are widely used over their single-frequency counterpart due to their greater accuracy and greater resistance to multipath errors, which are fairly common for the latter. Furthermore, in case, any one of the two frequencies fails, the other one works as the backup, thus ensuring uninterrupted signal transmission.

    In terms of regions, North America is likely to remain the largest market for military GPS receivers over the forecast period, with the USA accounting for more than three-fourths of the overall market. The country has been extensively investing in military GPS receivers to enhance the overall capabilities of its armed forces. Furthermore, market-leading companies, such as BAE Systems, L3Harris Technologies, Inc., and Raytheon Corporation, are present in the region, giving North America an unrivaled advantage over other regions.

    Key Players

    In recent years, there has been stiff competition in the military GPS receivers’ market. Moreover, there is a high consolidation in the market with the top companies capturing a mammoth market share. The growth of the companies in this market is widely influenced w.r.t their financial position, technological expertize, government support, and the military industry scenario. The mergers and acquisitions in the defense industry in recent years also play a large role in the overall competitive landscape. For example:

    • In July 2020, BAE Systems acquired the military GPS business division of Collins Aerospace from Raytheon Technologies Corporation, at US$ 1.9 billion. As a result of this acquisition, BAE Systems became the undisputed market leader for military GPS receivers.
    • In June 2019, L3 Technologies and Harris Corporation merged their businesses, to form L3Harris Technologies, Inc.

    The entire market competition has been affected as a result of these mergers and acquisitions. The following are the major players in the military GPS receivers’ market:

    • BAE Systems
    • Thales
    • L3Harris Technologies, Inc.
    • Raytheon Technologies Corporation
    • General Dynamics Corporation

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s military GPS receivers market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The military GPS receivers’ market is segmented into the following categories:

    Military GPS Receivers Market, by Product Type

    • P(Y) Code GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • M-Code GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Military GPS Receivers Market, by Application Type

    • Airborne-based GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Ground-based GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • PGM-based GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Handheld GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Maritime Equipment-based GPS Receivers
      • Maritime Equipment-based GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • Maritime Equipment-based GPS Receivers (Sub-Application Analysis: Surface Water-based GPS Receivers and Underwater-based GPS Receivers)

    Military GPS Receivers Market, by Frequency Type

    • Single Frequency GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Dual Frequency GPS Receivers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Military GPS Receivers Market, by Region

    • North America (Country Analysis: The USA and Rest of North America)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Japan, and Rest of Asia-Pacific)
    • Rest of the World

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

    A Bird's Eye View of the Market

    The military GPS receivers market is expected to grow at a steady CAGR of 8.2% to reach a value of US$ 830.8 Million in 2027. This growth is majorly attributed to the rising military expenditure in recent times along with the continued emphasis on the development and deployment of the advanced M-Code GPS receivers by the different military forces around the globe.

    BAE Systems, Thales, L3Harris Technologies, Inc., Raytheon Technologies Corporation, and General Dynamics Corporation are some of the major players in the military GPS receivers market.

    The North American region is estimated to maintain its dominance in the global military GPS receivers market in the coming years. This growth can be primarily attributed to the extensive investments made by the US Department of Defense (DoD) in the development and deployment of advanced M-Code GPS receivers.

    Aviation-based GPS receivers are likely to grow at the fastest pace in the market in the coming years. With the increasing use of digital technologies in the defense industry, GPS devices enable the proper and accurate provision of PNT (positioning, navigation, and timing) solutions for the aircraft during all phases of flight, which is critical in light of the growing military operations around the world. As a result, global defense authorities are heavily tapping into this market.

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