The Autonomous Navigation Market is estimated to grow at a CAGR 15.49% rate during the forecast period. Factors that are expected to fuel the growth of the autonomous navigation market are the development of sense & avoid systems in autonomous robots, the high adoption of autonomous robots for commercial and military purposes, and demand for autonomous robots in logistics.
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The software integrated into the system is responsible for carrying out complex operations and providing learning capabilities. The demand for autonomous systems is expected to grow in the future due to the potential for increasing output with reduced costs.
The Asia Pacific autonomous navigation market is projected to grow at the highest CAGR during the forecast period. The Chinese autonomous navigation market is the largest in the Asia Pacific region and is witnessing significant growth in sales and the demand for high technology vehicles.
Key Market Players includes Raytheon (US), Thales (France), Northrop Grumman (US), Safran (France), and Honeywell International (US), among others.
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