South America Autonomous Navigation Market is expected to reach US$ 69.4 Mn by 2027

Marine Segment is Expected to be Fastest Growing During Forecast Period for SAM Region

According to The Insight Partners market research study on “SAM 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$ 69.4 million by 2027 from US$ 41.3 million in 2019. The market is estimated to grow at a CAGR of 8.6% from 2020 to 2027. The report provides trends prevailing in the SAM autonomous navigation market along with the drivers and restraints pertaining to the market growth. Various AI technologies coming together for growing navigation effectiveness is the major factor driving the growth of the SAM autonomous navigation market. However, issues associated with technological costs and time hinders the growth of SAM autonomous navigation market.

The SAM 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.

SAM is severely affected by the COVID-19 pandemic. In SAM, Brazil reported the highest number of COVID-19 confirmed cases, followed by Ecuador, Peru, Chile, Argentina, and others. Governments in SAM are taking several initiatives, such as lockdowns, trade bans, and travel restrictions, to protect people and control the spread of COVID-19 in the region. These measures are expected to have a direct impact on the region’s economic growth due to lower export revenues from the drop in commodity prices and reduction in export volumes, especially to major trading partners. The sharp decline in the sales of the logistics industry and halt in vehicle production in the region due to lockdown measures is expected to directly impact the growth of the SAM autonomous navigation market.

Collins Aerospace, a Raytheon Technologies Corporation Company; FURUNO ELECTRIC CO., LTD.; Kollmorgen; KONGSBERG; Trimble Inc.; are among the leading companies in the SAM 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 2019, KONGSBERG completed the acquisition of Rolls-Royce Commercial Marine (RRCM). The addition of RRCM expands the Kongsberg global presence and empowering more sustainable, secure, and safe marine operations through cutting-edge operational technology, including navigation & control systems, and automation for all types of vessels.

The report segments the SAM Autonomous Navigation Market follows:

SAM Autonomous navigation Market – By Solution

• Sensing System
• Navigation System
• Processing Unit
• Software

SAM Autonomous Navigation Market – By Application

• Commercial
• Defense

SAM Autonomous Navigation Market – By Vehicle Type

• AGVs
• Mobile Robots
• UUVs
• Drones
• Others

SAM Autonomous Navigation Market – By Platform

• Land
• Marine
• Space

SAM Autonomous Navigation Market – By Country

• Brazil
• Rest of SAM