Report : Europe Autonomous Navigation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Solution (Sensing System, Navigation System, Processing Unit, and Software), Application (Commercial and Defense), Vehicle Type (AGVs, Mobile Robots, UUVs, Drones, and Others), and Platform (Land, Marine, and Space)
Commercial Segment to Dominate Europe Autonomous Navigation Market during 2019–2027
According to a new market research study on “Europe Autonomous Navigation Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Solution, Application, Vehicle Type, and Platform” is expected to reach US$ 243.4 million by 2027 from US$ 138.3 million in 2019. The market is estimated to grow at a CAGR of 9.3% from 2020 to 2027. The report provides trends prevailing in the Europe autonomous navigation market along with the drivers and restraints pertaining to the market growth. Mobile robots having huge applications is the major factor driving the growth of the Europe autonomous navigation market. However, issues associated with installation including integration takes time and this hinders the growth of Europe autonomous navigation market.
The Europe autonomous navigation market is segmented into solution, application, type, platform, and country. Based on solution, the market is further segmented into sensing system, navigation system, processing unit, and software. Sensing system led the market in 2019. Based on application, the market is sub segmented into commercial and defense. Commercial segment held the largest market share in 2019. Based on type, the market is sub segmented into AGVs, mobile robots, UUVs, drones, and others. AGVs held a substantial market share in 2019. Based on platform, the market is sub segmented into land, marine, and space. Land segment held largest market share in 2019.
The ongoing COVID-19 pandemic has severely impact the European countries. Spain, Italy, Germany, the UK, and France are among the worst-affected member states in Europe. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Due to business lockdowns, travel bans, and supply chain disruptions, the region has seen an economic slowdown in 2020 and is most likely to witness in 2021. The entire region is heavily hit by the COVID-19 outbreak, which has resulted in temporary closure of tech giants and many industrial sectors. This closure has obstructed the investment decision of several companies on different software. The region is a major manufacturing and industrial hub for various industries such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in activities in aforementioned industries, resulting in lesser development of autonomous technologies and systems.
BlueBotics SA; Brain Corporation; Collins Aerospace, a Raytheon Technologies Corporation Company; FURUNO ELECTRIC CO., LTD.; KINEXON; Kollmorgen; KONGSBERG; Trimble Inc. are among the leading companies in the Europe autonomous navigation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Norwegian autonomous-ship received funding of NOK 200 million. AUTOSHIP project is a collaboration between KONGSBERG and Norway's leading research organization, SINTEF. The addition of funding further strengthens the AUTOSHIP project's position, which will accelerate the realization of next-generation autonomous ships.
The report segments the Europe Autonomous Navigation Market follows:
Europe Autonomous navigation Market – By Solution
- Sensing System
- Navigation System
- Processing Unit
Europe Autonomous Navigation Market – By Application
Europe Autonomous Navigation Market – By Vehicle Type
- Mobile Robots
Europe Autonomous Navigation Market – By Platform
Europe Autonomous Navigation Market – By Country
- United Kingdom
- Rest of Europe
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