Published Date : Dec 19, 2016
Albany, NY, Dec 19, 2016: The report, titled “Global Military GPS Device Market 2016-2020” provides a thorough assessment of the growing need for military GPS devices in the armed forces. It studies the changing patterns of warfare and the increasing threats to national and international security that is fueling the demand for these devices. The document evaluates the historical data and current market situation to provide its readers a fair understanding of the market dynamics.
According to the research report, the global military GPS devices is expected to progress at a CAGR of 3.69% during the forecast period of 2016 and 2020. The upgradation of military equipment is the primary reasons for the augmenting demand for military GPS devices. The research report states that need to modernize warfare tactics and to plan precision-driven strikes has also boosted the uptake of these devices in recent past. The market is also being fueled by the growing need for technically-advanced equipment that will cut down casualties in a combat situation.
The research report segments the global market on the basis of application into airborne military GPS devices, land-based military GPS devices, naval-based military GPS devices, and weapon systems GPS devices. On the basis of geography, the market is divided into the Americas, Europe, the Middle East and Africa, and Asia Pacific. The analysts have shed light on the strengths, weaknesses, opportunities, and threats impacting these segments of the global market. The document also offers an understanding of the regulatory framework and investments being made in the global market that will determine its progress in the coming years.
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Despite the strong market drivers, the global market faces some tough challenges. The biggest challenge in the overall market is the persistent threat of someone hacking into GPS devices to use the sensitive information. The possibility of such security breaches is restraining militaries from investing in new devices. However, development of anti-jamming GPS devices is likely to open up new opportunities for the vendors in the global market.
Some of the key players operating in the global military GPS devices market are BAE Systems, Lockheed Martin, Northrop Grumman, Raytheon, and Rockwell Collins. The research report has analyzed these players to provide a detailed understanding of their business and marketing strategies, research and development activities, and expansion plans for the years to come. The document also includes an assessment of the competitive landscape present in the global military GPS devices market. The research report answers questions pertaining to size of the overall market by the end of 2020, the key market trends, and strengths and weaknesses of key vendors in the market.
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