Magnetic compass is a navigational tool containing a magnetic needle which orients itself with the earth's magnetic field. Globally, technological advancement leading to higher consumption, rise in the demand for magnetic compass for geological survey, and increasing military expansion in Middle East & Asia are the prime growth drivers of global magnetic compass market. In addition, increase in adoption of magnetic compass for newer applications, and emerging economies such as China, India and others will create new opportunities for global magnetic compass market. However, growing counterfeit products market, and lack of efficiency in stringent and harsh working environment are the key restraints for global magnetic compass market.