Global Search, Detection, And Navigation Instruments Market CAGR, Volume and Value 2020

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Summary – A new market study, “Search, Detection, And Navigation Instruments Global Market Report 2020 Markets Covered: By Type: Compasses; Aeronautical and Space Navigation Instruments; Nautical Navigation Instruments; Radio Navigational Aid Apparatus Companies Mentioned: BAE Systems Plc; Leonardo S.p.A; Raytheon; Thales Group; United Technologies Corp. ”has been featured on WiseGuyReports.
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Companies in the marine industry are preferring navigation instruments incorporated with augmented reality (AR). AR is a technology that reflects the digital information in the real world. Navigation systems integrated with AR technology provide great support to the sailors in ship keeping and related operations. For instance, in 2018, Mitsui O.S.K. Lines (MOL) planned to install AR navigation systems on 21 very large crude oil carriers (VLCCs) operated by them. This navigation system will superimpose real-time video imagery and voyage information and provide support to crewmembers during their watch-keeping and ship operations visually. The benefits provided by AR technology in real time will increase the demand for instruments with such advanced technology.
The search, detection, and navigation instruments market consist of sales of search, detection and navigation instruments and related services used for searching, detecting, recording and guiding and to determine the speed, and direction to arrive at the point of destination. The search, detection, and navigation instruments refer to the instruments used by nautical navigators and pilots as tools for their trade. Some of the search, detection, and navigation instruments include aeronautical instruments, navigation and guidance systems, SONAR and RADAR systems equipment.
The global search, detection, and navigation instruments market was worth $175.14 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 6.13% and reach $222.22 billion by 2023.
The search, detection and navigation instruments market covered in this report is segmented by type into compasses, aeronautical and space navigation instruments, nautical navigation instruments and radio navigational aid apparatus.
The search, detection, and navigation instruments market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia-Pacific was the largest region in the search, detection, and navigation instruments market in 2019. Asia-Pacific region is expected to be the fastest growing region in the search, detection, and navigation instruments market in forecast period.
The increasing demand from civilian and defense aircraft manufacturing industries drove the market for search, detection and navigation instruments. The increasing demand was supported by rising disposable income, increasing air travel and military usage. Rise in working group and middle-class demography will affect the demand positively. For instance, in 2020, Airbus invested $1 billion to manufacture 63 A320 Family aircraft per month, beginning in 2021. Therefore, the increasing demand from civilian and defense aircraft manufacturing companies is expected to drive the market for search, detection and navigation instruments.
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Stringent regulations on tariffs limited the growth of search, detection and navigation instruments manufacturing. Governments across the world are imposing tariffs owing to trade wars between countries, national defense or curtailment of monopoly powers, volatile oil prices and volatility in international trade. In October 2018, the World Trade Organization permitted the USA to tax European exports as much as $7.5 billion annually. As a result, the USA has imposed tariffs of 10% on imports of large civil aircraft, and industrial products among other goods from the European Union. The tariffs could raise prices for American companies importing goods and machinery thereby increasing the expenses. The increase in the import duties and taxes has a negative impact on search, detection, and navigational instruments market growth.
In January 2020, BAE systems, a British multinational defense, security and aerospace company acquired military GPS business from United Technologies for $1.93 Billion. The acquisition of GPS business from United Technologies will strengthen the professional and technical capabilities of BAE Systems to provide more comprehensive portfolio of solutions and adds new technology for BAE Systems that is compatible with industry-standard equipment and helps for the increasing product line. United Technologies is an American multinational conglomerate which operates in the fields of researches and manufacturing products in numerous areas, including aircraft engines, aerospace systems and industrial products.
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Major players in the market are BAE Systems Plc, Leonardo S.p.A, Raytheon, Thales Group, United Technologies Corp., Agilent Technologies, Siemens Medical Solutions, Boeing, and Thermo Fisher Scientific.Search, Detection and Navigation Instruments Global Market Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global search, detection and navigation instruments market.
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Description:
Where is the largest and fastest growing market for the search, detection and navigation instruments? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Search, Detection and Navigation Instruments market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider search, detection and navigation instruments market, and compares it with other markets.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
• The search, detection and navigation instruments market section of the report gives context. It compares the search, detection and navigation instruments market with other segments of the search, detection and navigation instruments market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, search, detection and navigation instruments indicators comparison.
Scope
Markets Covered: By Type: Compasses; Aeronautical and Space Navigation Instruments; Nautical Navigation Instruments; Radio Navigational Aid Apparatus
Companies Mentioned: BAE Systems Plc; Leonardo S.p.A; Raytheon; Thales Group; United Technologies Corp.
Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

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