DUBLIN, Jan. 25, 2022 /PRNewswire/ — The “Satellite Position, Navigation, and Timing (PNT) Technologies Market place – A International and Regional Evaluation: Focus on Software, Conclusion Person, Element, and Country – Evaluation and Forecast, 2021-2031” report has been extra to ResearchAndMarkets.com’s giving.
The world-wide satellite place, navigation, and timing (PNT) technology current market is valued at $961.7 million in 2020 and it is approximated to achieve $8,817.3 million by 2031, at a compound once-a-year development fee (CAGR) of 22.45% throughout the forecast period 2021-2031.
The big variable driving the marketplace advancement is the have to have for resilient navigation, positioning, and timing knowledge for everyday programs in the commercial and protection sector.
Satellite Positions, Navigation, and Timing (PNT) Technologies
Satellite PNT technological know-how determines precise geographical spot or position, navigates the route, and properly tracks precise time. The position, navigation, and timing is derived from the worldwide navigation satellite method (GNSS) onboard the conversation satellite.
The major operate of PNT is to make improvements to the effectiveness of GNSS by supplying data about the accuracy, integrity, continuity, and availability of its alerts for geo-location and navigation programs.
To begin with, the place, navigation, and timing (PNT) technological innovation was launched to dietary supplement military services and defense functions. Even so, PNT technological know-how has grow to be critical for professional, authorities, and civil operations about the years.
At this time, government businesses and personal providers operating in the worldwide satellite position, navigation, and timing (PNT) engineering market are engaged in exploration and progress initiatives to give assured situation, navigation, and timing technological innovation (A-PNT).
Satellite PNT Technological innovation Industry by Application
The navigation application is expected to dominate the world wide satellite placement, navigation, and timing (PNT) engineering marketplace as acquiring correct navigation facts has turn into the spine of the automotive, e-commerce, and transport and logistics industries on air, land, and sea. The navigation application has also come to be crucial for military services, authorities, and civil conclude user for nationwide safety, special functions, study, rescue missions, and far more.
Satellite PNT Technology Industry by Stop User
The commercial end person section is predicted to dominate the worldwide satellite placement, navigation, and timing (PNT) technologies marketplace. For the automotive, professional aviation, money industries, e-commerce businesses, the PNT technologies is significant for each day operations.
Satellite PNT Technology Sector by Component
The components remedy segment is expected to lead the world-wide satellite placement, navigation, and timing (PNT) engineering current market. The growth of this section is attributed to the essential hardware components this kind of as atomic clocks and oscillators.
Satellite PNT Technologies Market by Location
All through the forecast period, North The usa is expected to dominate the world wide satellite position, navigation, and timing (PNT) engineering market. The important existence of important businesses remarkably engaged in creating and supplying worldwide satellite posture, navigation, and timing technological know-how solutions is a major element attributing to the region’s advancement.
Critical Market place Gamers and Level of competition Synopsis
Some of the important players running in the marketplace contain Garmin Ltd., Northrop Grumman Company, BAE Units, Inc., Qualcomm Systems Ltd., Hexagon AB, Novatel Inc., Raytheon Technologies, WR Methods, Saab Ab, Telespazio, Thales Team, Orolia Holding SAS, Booz Allen Hamilton, and Safran.
The corporations profiled in the report have been selected adhering to in-depth interviews with experts and comprehension facts all-around businesses this kind of as merchandise portfolio, once-a-year revenues, sector penetration, study and advancement initiatives, and domestic and intercontinental presence in the place business.
Latest Developments in Satellite PNT Technology Industry
- In September 2021, Northrop Grumman Corporation gained a agreement well worth $13.3 million for Period 2 progress of an innovative, application-defined positioning, navigation, and timing (PNT) payload, with possibilities to construct units destined for room flight.
- In June 2020, Kratos Protection & Stability Solutions, Inc. acquired CPI ASC Signal Division, Inc. (ASC) from Communications & Energy Industries LLC (CPI) for $35 million in dollars.
- In August 2021, Saab AB enterprise received a contract to establish and create radars for the U.S. Navy. The delivery is scheduled for August 2023.
- In February 2021, BAE Methods Inc. received a deal really worth $247 million from the U.S. Place Force’s Place and Missile Methods Center to style and design and manufacture an advanced military M-code GPS receiver. Below the agreement, the firm would also target on the certification of an highly developed application-distinct integrated circuit (ASIC) and the progress of an ultra-modest, lower-electrical power GPS module.
Crucial Issues Answered in the Report
- How satellite posture, navigation, and timing (PNT) technological innovation sector evolve in the coming a long time?
- Which conclude consumer in the satellite PNT technologies sector will occupy the optimum share above the coming many years?
- What components are expected for industrial and protection satellite posture, navigation, and timing (PNT) technological innovation marketplace application?
- What is the scope in the market for new original products producers (OEMs) and other gamers that desire to enter the worldwide satellite placement, navigation, and timing (PNT) technologies market?
- What are the motorists and challenges attributing to the development of the world satellite placement, navigation, and timing (PNT) technologies?
- Which software and conclusion person section are anticipated to lead the world-wide satellite placement, navigation, and timing (PNT) technologies by 2031?
- What was the market worth of the regions in international satellite place, navigation, and timing (PNT) technology 2020, and how is the market estimated to increase all through the forecast interval 2021-2031?
- What are the R&D initiative and financial commitment scenarios in the world-wide satellite position, navigation, and timing (PNT) technologies market place?
- What are the vital developmental strategies that are executed by the key gamers to maintain the competitive marketplace?
Market place Report Coverage – Satellite Place, Navigation, and Timing (PNT) Engineering
Market place Segmentation
- Software: Navigation, Positioning, Precision Timing, Geo-Area, GNSS Correction
- End Person: Defense, Professional, Authorities and Civil
- Component: Hardware, Software program
- Satellite PNT Technologies: Overview
Ongoing and Future Courses
- NASA’s GNSS Capabilities for Artemis Mission
- U.K.’s Alternate for Galileo Satellite PNT
- European Room Agency (ESA) Producing 5G for Unmanned Aerial Motor vehicle (UAV) Positioning
Start-Up and Expenditure Circumstance
- Existing and Forthcoming Satellite PNT Constellation (Desire Forecast)
- Expanding Desire for Operational Effectiveness of PNT Technological innovation
- Superior Charge of Sustaining and Upgrading the Present PNT Technology
- Country Laws and Political Landscape
Business enterprise Possibilities
- Emergence of Personal Sector Providing PNT Technology
- Product or service Developments and Innovations
- Partnerships, Collaborations, Agreements, and Contracts
- Mergers and Acquisitions
- Garmin Ltd.
- Northrop Grumman Corporation
- BAE Techniques, Inc.
- Qualcomm Technologies Ltd.
- Hexagon AB
- Novatel Inc.
- Raytheon Technologies
- WR Systems
- Saab Ab
- Thales Team
- Orolia Keeping SAS
- Booz Allen Hamilton
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