The autonomous navigation market was valued at $3.27 billion in 2021, and is estimated to reach $15.91 billion by 2031, growing at a CAGR of 17.1% from 2022 to 2031.
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The autonomous navigation system is an on board, integrated suite of sensors and technology that enabled autonomous navigation, perception, path-planning and vehicle-following capabilities for unmanned group vehicles, allowing them to move on the battlefield with minimal human oversight. It is installed in vehicles, such as drones, robots, cars, boats, and others. The navigation system technology is performed by using advanced technologies such as inertial navigation system, satellite navigation system, radars, cameras, and ultrasonic & acoustics navigation along with autonomous navigation algorithms for accurate & safe navigation of vehicles. At present, development of sense and avoid systems in autonomous robots, the widespread deployment of autonomous robots for commercial and military purposes, and the demand for autonomous robots in logistics are all likely to drive the autonomous navigation industry forward. For instance, in December 2021, ENWAY released the new generation of its autonomous sweeping robot, the B2. It featured autonomous charging with inductive charging station, which allowed the robot to charge its battery completely autonomously. In addition, it also has a remote-control center that monitored all movements of the robots to guarantee smooth processes.
In addition, the autonomous navigation market has witnessed significant growth in recent years, owing to the promising growth rate of the drone market, public & private developments, and investments in unmanned aircraft system traffic management (UTM) are expected to drive the market growth during the forecast period. Furthermore, the companies operating in the autonomous navigation market have adopted partnerships, investments, and collaborations to increase their market share and expand their geographical presence. For instance, in November 2021, ABB announced a strategic partnership with Sevensense Robotics AG, a provider of autonomous navigation technology to enhance ABB’s new mobile robot offerings with artificial intelligence and 3D vision mapping technology. The partnership worked to develop the next generation of flexible automation technologies and to expand its robotics and automation portfolio.
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The factors such as increase in demand for sense & avoid system in autonomous system, rise in adoption of autonomous robot in commercial & military applications, and increase in demand for real-time data in military applications supplement the growth of the autonomous navigation market. However, lack of standard infrastructure for operation of autonomous systems in developing countries and privacy & security concerns related to data are the factors expected to hamper the growth of the market. In addition, increase in demand for improved surveillance and proactive government initiatives & support are expected to create ample opportunities for the key players operating in the autonomous navigation market.
