Frost & Sullivan: Need for Precision Strike Capabilities Fuels Military Global Navigation Satellite Systems Market

Description

Frost & Sullivan: Need for PrecisionFrost & Sullivan: Need for Precision Strike Capabilities Fuels Military Global Navigation Satellite Systems Market Launch of commercial off-the-shelf solutions endorses development of military sector PR Newswire LONDON, April 24, 2014 Ongoing operations, force modernisation efforts, and the rising importance of precision strikes in contemporary military conflicts are driving the demand for global navigation satellite systems (GNSS). Military end users are gravitating towards these solutions as a single strike of a 155 mm GNSS- guided artillery can cause more impact than a dozen unguided rounds. New analysis from Frost & Sullivan, Military Global Navigation Satellite Systems Market Assessment, finds that the market earned revenues of $1.98 billion in 2013 and estimates this to reach $2.18 billion in 2022 at a compound annual growth rate of 1.1 percent. The study covers receivers, data applications, and services. North America is the biggest market for military GNSS while Central Asia, Asia-Pacific, and the Middle East represent the fastest growing markets. The launch of major projects such as the European Galileo and Chinese Beidou/Compass as well as the introduction of two new regional navigational systems – Indian Regional Navigational Satellite System and the Japanese Quasi-Zenith Satellite System – is increasing the availability of GNSS solutions.

Informations

• Publié par: frost-sullivan
• Publié le: 24 avril 2014
• Nombre de lectures: 50
• Langue: English

Extrait

Frost & Sullivan: Need for Precision Strike Capabilities Fuels Military Global Navigation Satellite Systems Market

Launch of commercial off-the-shelf solutions endorses development of military sector

PR Newswire

LONDON, April 24, 2014

Ongoing operations, force modernisation efforts, and the rising importance of precision strikes in contemporary military conflicts are driving the demand for global navigation satellite systems (GNSS). Military end users are gravitating towards these solutions as a single strike of a 155 mm GNSS-guided artillery can cause more impact than a dozen unguided rounds.