Military Magnetic Compass Market Overview, Growth, and Trends (2021-2031)

MARKET INTRODUCTION

The magnetic compass is the most common type of compass. It functions as a pointer to "magnetic north" the local magnetic meridian, because the magnetized needle in its heart aligns itself with the horizontal component of the Earth's magnetic field. The magnetic field exerts a torque on the needle, pulling the North end or the needle pole approximately towards the North Magnetic Pole of the Earth, and pulling the other towards the South Magnetic Pole of the Earth. Basically military magnetic compass is the type of compass which are specially used by military to know the direction. There are different types of magnetic compass which are available for military use such as steering compass, tactical compass, bearing compass etc. In case of naval forces, compass is used to know the direction of the ship. Navy ships generally comes with the in-build compass and land forces requires the portable magnetic compass to know their direction. More advancement in magnetic compass is expected to drive the market during forecast period.

MARKET DYNAMICS

The growing military operation and combat around the world and rising military expenditure in developing countries is driving the growth of the military magnetic compass market. However, growing counterfeit products market may restrain the growth of the military magnetic compass market. Further, advancements in military magnetic compass in terms of accuracy and optimization are anticipated to create market opportunities for the military magnetic compass market during the forecast period.

MARKET SCOPE

The "Global Military Magnetic Compass Market Analysis to 2031" is a specialized and in-depth study of the military magnetic compass market with a special focus on the global market trend analysis. The report aims to provide an overview of military magnetic compass market with detailed market segmentation by type, mounting, orientation, end user, and geography. The global military magnetic compass market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading military magnetic compass market players and offers key trends and opportunities in the military magnetic compass market.

MARKET SEGMENTATION

The global military magnetic compass market is segmented on the basis of type, mounting, orientation, and end user. On the basis of type, the market is segmented as steering compass, dive compass, bearing compass, and tactical compass. Similarly, based on mounting, market is segmented into the built-in, binnacle-mounted, mounting bracket, and portable. Further, based on orientation, market is segmented as horizontal and vertical. Moreover, based on end user, market is segmented as land force, naval force, and air force.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global military magnetic compass market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The military magnetic compass market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting military magnetic compass market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porter's five forces analysis highlighting factors affecting the military magnetic compass market in these regions.

MARKET PLAYERS

The reports cover key developments in the military magnetic compass market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from military magnetic compass market are anticipated to lucrative growth opportunities in the future with the rising demand for military magnetic compass. Below mentioned is the list of few companies engaged in the military magnetic compass market.

The report also includes the profiles of key military magnetic compass market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Brunton
  
•   Huish Outdoors, LLC.
  
•   NavELite
  
•   PNI Sensor
  
•   Ritchie Navigation
  
•   Riviera srl Genova
  
•   RJE International
  
•   SIRS Navigation Ltd
  
•   Suzhou Changfeng Instruments Co, Ltd.
  
•   True North Technologies
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Military Magnetic Compass Report Scope