A navigation system is a navigation aiding computing system. Navigation systems can either be completely on board a vehicle or vessel (on the ships) bridge, or they can be placed elsewhere and communicate with a vehicle or vessel through radio or other signals, or they can use a combination of these methods. The use of navigation systems helps us improve traffic flow, guides users and also helps monitor parcels and shipments. It also assists in monitoring weather warnings depending on the system size. The use of navigation systems is proving cost savings for fleet management firms. The navigation systems provide vehicle safety and security, as vehicles that have an installed navigation system can easily be tracked.

COVID-19 scenario Analysis: 

• Global navigation system market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors. 
• Global factories have struggled to integrate new navigation systems as workers have stayed in their homes, which disrupted the global supply chains. 
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for navigation systems are gradually going to increase.  
• This COVID-19 lockdown would help companies think about more advanced navigation systems to enhance efficiency.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Due to the increasing demand for real-time information in a wide range of applications ranging from the automotive segment to the autonomous robots, the adoption of navigation systems is increasing globally. The high growth in aviation industry and the high defense budget are expected to drive the navigation system market growth during the forecast period. However, high installation costs, safety requirements, is hamper the industry growth. Nevertheless, mitigating such restraining factors is expected to focus on bringing in new technological innovation.  

The global navigation system market trends are as follows:

Growth in protection issues from governments to boost the market 

The defense industry is a primary application of navigation systems. Navigation systems offer the ability for users to detect, locate and characterize sources of interference. Satellite navigation is widely used in military forces for aerial monitoring, ground navigation, and maritime navigation. Due to the growing security concerns of the government of different countries, these navigation systems have become one of the indispensable parts of the defense business. For example, Britain is heading for the launch of its satellite navigation system.

North America to hold significant share in the market

In October 2018, the U.S. Federal Communications Commission announced that it would vote in November to grant U.S. devices access to the European Global Navigation Satellite Network known as Galileo, a step which could improve the use of American services. In addition, increasing demand for connected car devices, autonomous and self-driving cars depends on the synchronized interplay of radar, Lidar, GPS, other sensors and technologies to ensure safe travel. North America is rapidly adopting automation and thus spurring the growth of the navigation system market.  

With advancements of technology, the systems have transformed and offered multiple services and navigation facilities, thus creating a considerable service ecosystem around navigation technologies. Different GPS systems are used across mining, agriculture, aviation, marine, surveying, and military. Growing world trade and marine traffic growth has helped the market expand dramatically in recent years. The government authorities concerned have made significant investments across the world to introduce navigation systems through various vertical divisions of industry. Due to the existence of some key players including Garmin Ltd, Honeywell International Inc., Collins Aerospace Inc., Safran Electronics & Defense Inc., and many more, the competitive competition among the navigation system market is strong. Because of their ability to continually innovate their products, they have been helped to achieve competitive advantage over other players by significant investment in research and development activities.

Market scope and structure analysis:

Key benefits of the report:

• This study presents the analytical depiction of the global navigation system industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global navigation system market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global navigation system market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global navigation system market analysis based on competitive intensity and how the competition will take shape in coming years. 

Key segments covered:

Questions answered in the navigation system market research report

• Which are the leading market players active in the navigation system market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the navigation system market?
• What are the projections for the future that would help in taking further strategic steps?