Global Drone Navigation System Market 2019-2023

The global drone navigation system market size will grow by USD 4.53 billion during 2019-2023. This market report provides a detailed analysis of the market by end-users (military drones and consumer and civil drones) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on a few market vendors, including AeroVironment Inc., HEXAGON, Northrop Grumman Corp., Parker Hannifin Corp., SBG Systems SAS, and SZ DJI Technology Co. Ltd.

A few of the key findings from this drone navigation system market analysis report are summarized below

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Global Drone Navigation System Market Overview

Advancements in electronic warfare technologies is one of the key drivers contributing to the growth of the drone navigation system market. In the current warfare scenarios, drones are extensively being used owing to their visual superiority and capability of performing pre-emptive strikes and surveillance on specific locations. The modern UAVs have defense mechanisms and perform like fighter aircraft. UAVs can also effectively capture data and have stealth capabilities.

Moreover, there is ongoing R&D on incorporating enhanced sensors into drones. These factors will increase the use of drones in the defense sector, which will support the growth of the market during 2019-2023. The market will record over 27% CAGR in 2023.

The integration of artificial intelligence (AI) into drones is one of the prevailing trends that has been fueling the growth of the global drone navigation system market. AI will power next-generation drones. AI-powered drones can capture real-time data. Currently, in countries such as the US, all drones must have a pilot at the controls and should be within the pilot’s line of sight. The future AI-enabled drones will have fully automated navigation systems, which will improve the safety aspects of these machines. These advantages will increase the demand for AI-enabled drones, contributing to the growth of the global drone navigation system market during the forecast period.

Top Drone Navigation System Companies Covered in this Market Research Report

The global drone navigation system market is fragmented. This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. The review will help clients in improving their market positions. It also provides a detailed analysis of the upcoming drone navigation system market trends and challenges and how they will influence its growth. The research will help companies in creating effective strategies to leverage the upcoming market growth opportunities.

The report offers a detailed analysis of a few leading Drone Navigation System companies, including the following:

• AeroVironment Inc.
• HEXAGON
• Northrop Grumman Corp.
• Parker Hannifin Corp.
• SBG Systems SAS
• SZ DJI Technology Co. Ltd.

Drone Navigation System Market Segmentation Based on End-user

• Military drones
• Consumer and civil drones

Military drones held the highest market share in 2018. The defense sector across the world has been significantly adopting advanced drone technologies. Drones are primarily used for extended hours of surveillance to enhance the troops’ situational awareness and alert them of potential threats. Vendors are capitalizing on the needs and providing drones with easy operations and quick deployment feature. Despite the extensive use of drones in the defense sector, the consumer and civil drones sector will account for the highest market share in 2023. This is because of the rising applications of drones, such as inspections of buildings, railway tracks, power lines, and others, in the construction and logistics industries.

Drone Navigation System Market Segmentation Based on Geographic Region

• APAC
• Europe
• MEA
• North America
• South America

In 2018, APAC held the highest market share in the drone navigation system market. APAC will maintain its dominance despite its declining growth. Countries such as China, South Korea, India, and Japan have been increasing their defense budgets to procure advanced military technologies such as unmanned combat aerial vehicles (UCAVs). Civil applications of drones are also increasing India and China. In China, drones are extensively being used for aerial mapping, police assistance, and goods delivery. These factors will remain prevalent over the forecast period.

Key Highlights of the Global Drone Navigation System Market Forecast Report for the  Period 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the drone navigation system market during the next five years
• Precise estimation of the global drone navigation system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the drone navigation system industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of drone navigation system companies

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