Global Search, Detection, And Navigation Instruments Market Drivers 2024, Forecast To 2033
18 Jan, 2024
The search, detection, and navigation instruments market size surged from $308.79 billion in 2023 to $331.39 billion in 2024, displaying a 7.3% CAGR. This growth is attributed to aviation expansion, maritime navigation, scientific and exploration endeavors, and industrial manufacturing. Predictions for 2028 estimate a market size of $431.8 billion, growing at a 6.8% CAGR. Key contributors include autonomous vehicles, drones, environmental monitoring, healthcare, medical imaging, and space exploration. Major trends focus on miniaturization, portability, multi-sensor integration, remote sensing, IoT, non-invasive imaging, and enhanced data visualization.
Global Search, Detection, And Navigation Instruments Market Key Driver
Demand from civilian and defense aircraft manufacturing industries fuels the search, detection, and navigation instruments market. Increased demand is supported by rising disposable income, growing air travel, and military usage. The rise in the working-age and middle-class demographic positively influences demand. For instance, Airbus set a production target of 45 units per month in May 2021, rising to 64 units by the second quarter of 2023. Thus, increasing demand from aircraft manufacturing drives the search, detection, and navigation instruments market.
Get A Free Sample Of The Global Search, Detection, And Navigation Instruments Market ReportGlobal Search, Detection, And Navigation Instruments Market Segments
The search, detection, and navigation instruments market covered in this report is segmented –
1) By Type: Compasses, Aeronautical and Space Navigation Instruments, Nautical Navigation Instruments, Radio Navigational Aid Apparatus
2) By Technology: Radio Frequency Identification based(RFID), Cellular, Network, Bluetooth, Remote Sensing Services, Real Time Kinetic, Other Technologies
3) By Application: Marine, Aviation, Military, Other Applications
By Geography: The regions covered in the search, detection, and navigation instruments market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the search, detection, and navigation instruments market in 2023. North America was the second-largest region in the search, detection, and navigation instruments market. The regions covered in the search, detection, and navigation instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Search, Detection, And Navigation Instruments Industry Players
BAE Systems Plc, Leonardo S.p.A, Raytheon, Thales Group, United Technologies Corp., Agilent Technologies, Honeywell International Inc, Northrop Grumman Corporation, Moog Inc, Garmin International Inc, GE Aviation Systems, Smiths Group North America Inc, Herman Becker Auto Systems Inc, Lockheed Martin Corporation, Rockwell Collins Inc., Garmin Ltd., Trimble Inc., FLIR Systems Inc., Teledyne Technologies Inc., L3Harris Technologies Inc., Safran S.A., Cobham plc, Kratos Defense & Security Solutions Inc., Ultra Electronics Holdings plc, Curtiss-Wright Corporation, Esterline Technologies Corporation, Cubic Corporation, OSI Systems Inc., Elbit Systems Ltd., Harris Corporation, KVH Industries Inc., NovAtel Inc.
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Search, Detection, And Navigation Instruments Market Overview
The search, detection, and navigation instruments refer to the instruments used by nautical navigators and pilots as tools for their trade. Search, detection, and navigation instruments are used for searching, detecting, recording, and guiding to determine the speed, and direction to arrive at the point of destination.
Search, Detection, And Navigation Instruments Global Market Report 2023 provides data on the global search, detection, and navigation instruments market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The search, detection, and navigation instruments market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.