By 2032, it is anticipated that the market for navigation satellite systems would increase globally at a strong CAGR of 8.1% annually, reaching US$ 3,80,322.0 million. Demand for products is driven by rising value-added service revenues, low transaction costs, and minimal environmental effect.
-Use of unmanned and autonomous vehicles, such as unmanned aerial vehicles (UAVs), autonomous underwater vehicles (AUVs), and unmanned ground vehicles (UGVs), is rising for a range of uses.
-because more people are using autonomous vehicles for a variety of purposes and because they are depending more and more on location-based services.
-Cyberattacks on navigation satellite systems and inaccurate GNSS data are just two of the issues limiting the growth of the GNSS market. Moreover, growth prospects are anticipated to be offered by 5G and GNSS fusion.
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Global Navigation Satellite System Technology Market: Drivers and Challenges
The increasing emphasis on positioning, navigation and timing (PNT) tools in industrial, military applications, commercial, and government is driving the market for Global navigation satellite systems. Uninterrupted advancement in technology is resulting to the unveiling of superior and highly efficient GNSS devices.
Many small and large players entering into the market and offering products at a competitive pricing is causing competitively priced GNSS/GPS receiver devices. These factors are expected to drive the growth of global navigation satellite system technology market.
Ease of accessibility leading to cyber threats, challenge to store unstructured data are a few limitations which restrict the growth of global navigation satellite system technology market.
What is the Competition Landscape in the Navigation Satellite System Market?
Some of the leading companies operating in the global navigation satellite system market include
- Qualcomm,
- Broadcom,
- MediaTek,
- SkyTraq,
- Intel,
- STMicroelectronics,
- FURUNO,
- Raytheon Company,
- Rockwell Collins,
- TomTom NV,
- Topcon Corporation,
- Trimble Navigation Ltd., and
- u-blox.
A growing number of small and large players entering the market and offering products at competitive prices is leading to competitive prices for GNSS/GPS receivers. Thus, this factor is expected to boost the growth of the navigation satellite system (GNSS) market.
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Global Navigation Satellite System Technology Market: Regional Outlook
On the basis of regions, global Navigation Satellite System Technology Market can be segmented across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
The technological advancement and rising interest in positioning techniques based on Global Navigation Satellite Systems (GNSS) such as Global Positioning System (GPS), cellular network infrastructure or on the integration of the two technologies for applications such as, tracking systems, Automatic Vehicle Location (AVL), navigation has led to development in the navigation system of various countries such as US, India, China etc.
Key Segments Profiled in the Navigation satellite system Market
By Application:
- Agriculture
- Aviation
- Location-Based Services (Lbs)
- Maritime
- Road
- Rail
- Surveying
- Timing And Synchronization
By Satellite Technology:
- Constellations
- Satellite-Based Augmentation Systems (SBAS)
- GPS
- GLONASS
- Galileo
- BeiDou
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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