The Search, Detection, And Navigation Instruments Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Search, Detection, And Navigation Instruments Global Market Report 2024, The search, detection, and navigation instruments market size has grown strongly in recent years. It will grow from $308.79 billion in 2023 to $331.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to aviation expansion, maritime navigation, scientific and exploration endeavors, industrial and manufacturing.
The search, detection, and navigation instruments market size is expected to see strong growth in the next few years. It will grow to $431.8 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to autonomous vehicles and drones, environmental monitoring, healthcare and medical imaging, space exploration. Major trends in the forecast period include miniaturization and portability, multi-sensor integration, remote sensing and iot, non-invasive imaging, enhanced data visualization.
The increasing demand from civilian and defense aircraft manufacturing industries drove the search, detection, and navigation instruments market. 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 May 2021, Airbus set a production target of 45 units per month by the end of 2021 and 64 units by the second quarter of 2023.. Therefore, the increasing demand from civilian and defense aircraft manufacturing companies is expected to drive the growth of the search, detection, and navigation instruments market.
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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
The search, detection, and navigation instruments market report table of contents includes:
- Executive Summary
- Search, Detection, And Navigation Instruments Market Characteristics
- Search, Detection, And Navigation Instruments Market Trends And Strategies
- Search, Detection, And Navigation Instruments Market – Macro Economic Scenario
- Global Search, Detection, And Navigation Instruments Market Size and Growth
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- Global Search, Detection, And Navigation Instruments Market Competitive Benchmarking
- Global Search, Detection, And Navigation Instruments Market Competitive Dashboard
- Key Mergers And Acquisitions In The Search, Detection, And Navigation Instruments Market
- Search, Detection, And Navigation Instruments Market Future Outlook and Potential Analysis
- Appendix
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