Military GNSS antijam market to grow over next five years, study saysNews
July 16, 2020
FREMONT, Calif. The global market for military GNSS [global navigation satellite system] antijamming systems is forecast to increase at a healthy combined annual growth rate (CAGR) of 7.94% (based on market value) and 10.09% (based on volume) over the years 2020 to 2025, according to a recent study by BIS Research, "Global Military GNSS Anti-Jamming Systems Market."
Growth in this market, say the study authors, will occur due to rising intentional and unintentional activities of GNSS signals jamming and interference across the world, which make military forces more vulnerable toward mission failures. Moreover, the growing use of unmanned military platforms, increasing expenditure on next-generation satellite programs, and rising cross-border conflicts additionally will account for growth in military GNSS antijamming systems.
Another factor driving growth is that NATO countries must fulfill the criteria of spending 2% of GDP on defense, including such GNSS antijamming capabilities as electronic warfare (EW) systems.
In terms of value and volume, however, the study authors predict that the market will experience declines of 6.11% (value) and 6.03% (volume) in 2020, a drop expected due to the impact of the COVID-19 pandemic across the globe. The defense sector is experiencing a disruption in the supply chain and manufacturing processes due to lockdown imposed to combat the spread of COVID-19 in all major economies of North America, Europe, and Asia-Pacific.
Moreover, expected declines in defense budgets may delay current and defer proposed defense projects. Revival of this market during the post-COVID-19 period from 2022 to 2025 is expected to occur at a significant rate, according to the study.
For additional information, visit the BIS Research website.