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The Global Navigation Satellite System (GNSS) Market was valued at USD 270.51 Billion in 2023. It is anticipated to reach a valuation of USD 563.20 Billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.
GNSS Market Driven by Autonomous Vehicles and Location-Based Services
A GNSS refers to a network of satellites orbiting Earth, transmitting positioning, navigation, and timing data to GNSS receivers. It offers real-time, highly accurate positioning and timing services globally. GNSS encompasses satellite navigation systems like GPS, GLONASS, Beidou, and Galileo. Currently, three fully operational GNSS systems exist worldwide: the U.S. Global Positioning System (GPS), the Global Orbiting Navigation Satellite System (GLONASS) by Russia, and the European Union’s Galileo. GNSS finds application in various sectors, including road & rail navigation, location-based services, maritime navigation, agriculture, and more.
The increasing adoption of autonomous vehicles across diverse applications and the increasing reliance on location-based services are driving the GNSS market forward. However, the market faces challenges from cyberattacks targeting navigation satellite systems and data inaccuracies. Conversely, the integration of 5G technology with GNSS presents lucrative growth opportunities during the forecast period.
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Top Companies Featured in Global Navigation Satellite System Market Report:
- Qualcomm Inc
- Texas Instrument
- Trimble Inc.
- Rockwell Collins
- Broadcom Inc.
- Hexagon
- Furuno Electric
- Laird Plc
- Cobham Pl
- Harris Corporation
- Topcon Corporation
- Aglunction
- Topcon Corporation
- TomTom NV
- Rockwell Collins
Based On Type Market Is Segmented Into Global Constellations, Regional Constellations, And Satellite-Based Augmentations
Global Constellations: This segment held the dominant share in 2023. It includes constellations offering global navigation services, such as GPS, GLONASS, and Galileo. The GPS constellation comprises 33 satellites, with 31 operational. For instance, in June 2021, control of the newly launched GPS III SV05 was transferred to the U.S. Space Force’s 2nd Space Operations Squadron. This advancement empowers the GPS constellation with enhanced anti-jamming capabilities, improved accuracy, and increased resilience for its 4 billion users worldwide.
Regional Constellations: This segment caters to regional navigation needs. Examples include Navigation with Indian Constellation (NAVIC) and Quasi-Zenith Satellite System (QZSS). NAVIC, covering the Indian Ocean Region (India and surrounding areas up to 1500 km), offers precise real-time location and timing services. The NAVIC constellation consists of seven operational satellites. The QZSS regional constellation comprises four operational satellites.
Satellite-Based Augmentations (SBAS): This segment is anticipated to witness significant growth during the forecast period due to the rising adoption of SBAS as a disruptive technology. In June 2021, American Surveyor reported that various SBAS solution providers are expected to bolster market growth within this segment. Examples of operational public SBAS systems include EGNOS (Europe), WAAS (North America), MSAS (Japan), and GAGAN (India).
GNSS (Global Navigation Satellite System) Industry Segmentation as Follows:
BY TYPE
- Global Constellations
- Regional Constellations
- Satellite based Augmentation
BY APPLICATION
- Navigation
- Mapping
- Surveying
- Telematics
- Location based services (lBS)
- Other
BY END-USER
- Rail
- Agriculture
- Aviation
- Others
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Impact of Russia-Ukraine War on GNSS Market
The war has impeded the production and delivery of GNSS components due to sanctions and export restrictions. This can lead to shortages and price hikes in GNSS equipment. The heightened risk of cyberattacks on critical infrastructure, including GNSS systems, is a growing concern due to the heightened geopolitical tensions.
North America dominates the GNSS market, boasting the most advanced tracking systems and a strong inclination towards high technology. Europe and Asia-Pacific follow closely behind. As per Navigation Satellite System Market Forecasts, several countries are actively developing improved systems to address the rising market demand.
The global navigation satellite systems market is expected to witness rapid growth across all regions: North America, Europe, and Asia Pacific. These regions will experience significant demand surges, investments, and promising growth opportunities compared to other parts of the world. The North American market, encompassing the United States, Canada, and Mexico, is poised to emerge as a leading market force by 2030. The demand for navigation satellites is also rapidly expanding in the current scenario.
Recent Developments
In July 2021, Thales Alenia Space, ASECNA, Geoflex, and NigComSat collaborated to expedite the development of A-SBAS (Satellite-Based Augmentation System) for Africa and the Indian Ocean. This initiative aims to deliver precise point positioning (PPP) and risk warnings for various applications within the region.
In May 2020, Trimble announced the completion of its CenterPoint® RTX Fast correction service expansion, now covering a significant portion of North America. This development benefits both on-road and off-road autonomous applications and fosters improved positioning accuracy for industry professionals. The expansion promises enhanced implementation, safety, operational efficiency, and overall productivity.
Why This GNSS Market Report Benefits You
- This report equips stakeholders with valuable insights to capitalize on the navigation satellite industry’s potential.
- Gain a comprehensive understanding of market segments, trends, forecasts, and key drivers shaping the GNSS industry from 2021 to 2031.
- Identify lucrative opportunities and potential challenges through in-depth analysis of market forces using Porter’s Five Forces framework.
- Understand buyer and supplier dynamics to forge strong and profitable partnerships within the GNSS ecosystem.
- Identify high-growth markets and segments for focused business strategies through regional revenue contribution analysis.
- Benchmark your position against key players and gain insights into their market strategies.
Major Key Points from Table of Content
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. GNSS (Global Navigation Satellite System) Market Segmentation, By Type
9. GNSS (Global Navigation Satellite System) Market Segmentation, By Application
10. GNSS (Global Navigation Satellite System) Market Segmentation, By End-User
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion
Continued….
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