(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Autonomous Navigation Market by Solution (Hardware, and Software), Platform (Airborne (Autonomous Aircraft, Autonomous Drones), Land, Marine, Space, Weapons), Application (Commercial, Military & Government), Region - Global Forecast to 2028" report has been added to ResearchAndMarkets's offering.
Autonomous navigation is estimated to be USD 6.0 billion in 2023 and is projected to reach USD 12.9 billion by 2028, at a CAGR of 16.4%
The Autonomous Navigation Market study provides a comprehensive analysis of the market, focusing on various segments and subsegments within the industry.
Its goal is to estimate the market's size and growth potential across different categories, including solutions, platforms, applications, and regions. The study also incorporates a detailed competitive analysis of key players in the market, offering insights into their company profiles, product offerings, recent developments, and market strategies.
Autonomous navigation involves the capability of a vehicle or system to navigate and operate without direct human control, relying on advanced technologies like sensors, artificial intelligence, and algorithms to perceive the environment, make decisions, and execute actions. This technology has far-reaching implications for commercial and military applications.
The market for autonomous navigation is driven by factors such as the increasing adoption of autonomous robots for logistics operations and their widespread use in commercial and military applications. However, challenges such as unproven performance in unfamiliar environments, inadequate high-level interfacing, and a lack of required infrastructure in developing countries are limiting the overall growth of the market.
In 2023, Asia Pacific is expected to be the second-largest region in the autonomous navigation market. The region has made significant strides in autonomous navigation, driven by technological advancements, substantial investments, and extensive research efforts.
This progress has led to the widespread integration of autonomous vehicles, drones, and robotic systems across various sectors like transportation, logistics, agriculture, and manufacturing. Asia Pacific is at the forefront of innovation, playing a pivotal role in expanding and enhancing autonomous navigation capabilities.
Within the platform segment, airborne autonomous navigation holds the second-largest share in 2023. Advancements in sensor technology, artificial intelligence, and connectivity have propelled the autonomous navigation capabilities of unmanned aerial vehicles (UAVs). This progress has led to significant improvements in areas like aerial surveillance, package delivery, and search and rescue operations, enhancing efficiency, safety, and scalability.
In the application segment, the commercial sector is projected to have the second-largest share in 2023. It encompasses autonomous robots used in industries such as aviation, automotive, logistics, and marine.
Continuous research and development in robotics, computer vision, artificial intelligence, and edge computing capabilities are driving significant growth in the commercial segment. The demand for robotics in agriculture is also expected to rise, offering the potential to increase output while reducing costs.
Key players in the autonomous navigation market include Thales Group (France), Moog Inc. (US), Furuno Electric Co., Ltd. (Japan), RH Marine (Netherlands), and ABB (Switzerland).
| Report Attribute || Details |
| No. of Pages || 221 |
| Forecast Period || 2023 - 2028 |
| Estimated Market Value (USD) in 2023 || $6 Billion |
| Forecasted Market Value (USD) by 2028 || $12.9 Billion |
| Compound Annual Growth Rate || 16.4% |
| Regions Covered || Global |
Widespread Adoption of Autonomous Platforms in Commercial and Military Applications to Drive Market Commercial Segment to Lead Market by 2028 Software Segment to Lead Market During Forecast Period Marine Segment to Dominate Market During Forecast Period
Incorporation of Advanced Sense and Avoid Systems in Unmanned Vehicles Widespread Adoption of Autonomous Robots for Commercial and Military Applications Improved Safety and Efficiency with Autonomous Navigation Technology Rising Adoption of Autonomous Robots for Logistic Operations
Unproven Performance in Unfamiliar Environments and Inadequate High-Level Interfacing Lack of Required Infrastructure for Autonomous Systems in Emerging Economies
Increasing Adoption of 5G and Ai Growing Efforts Aimed at Advancing Autonomous Systems Assistance and Services Offered by Autonomous Robots
Vulnerability of Autonomous Systems to Cyber Threats due to Automation Unclear Regulatory Framework for Use of Autonomous Systems
Value Chain Analysis
Trends/Disruptions Impacting Customer Business Revenue Shift and New Revenue Pockets for Autonomous Navigation Manufacturers
Autonomous Navigation Market Ecosystem
Prominent Companies Private and Small Enterprises End-Use Industries
Key Technological Trends in Autonomous Navigation Market
Navigation Technology for Autonomous Systems Sensor Fusion Solutions Control Algorithms Research on Standard Operating Systems for Robots Micro-Electro-Mechanical Systems-Based Inertial Navigation Systems High-End Inertial Navigation Systems
Use Case Analysis
Autonomous Delivery Drones in Urban Environments Autonomous Mining Trucks in Open-Pit Mines
Impact of Megatrends
Artificial Intelligence Big Data Analytics Satellite Navigation
Innovations and Patent Registrations
Raytheon Technologies Corporation Honeywell International Inc. Northrop Grumman Corporation Thales Group Safran Sa ABB L3Harris Technologies, Inc. General Dynamics Corporation Rolls-Royce plc Moog Inc. Kongsberg Gruppen Asa Rh Marine Trimble Inc. Furuno Electric Co., Ltd.
Shield Ai Skydio, Inc. Near Earth Autonomy Inc. Clearpath Robotics Inc. Bluebotics Velodyne Lidar, Inc. Leddartech Inc. Novatel Inc. Sea Machines Autonodyne LLC
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Autonomous Navigation Market
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