Global navigation satellite system (GNSS) refers to a constellation of satellites, which provides signals from the space that relays positioning, navigation, and timing data to the GNSS receiver. It provides accurate real-time positioning and timing services to users across the globe.
The growth of the global navigation satellite system market has propelled due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems and inaccuracy in GNSS data are the factors that restrain the growth of the market. Furthermore, fusion of 5G and GNSS is the factor expected to offer growth opportunities during the forecast period.
Space research agencies are focusing on utilization of signals from multiple global navigation satellite system (GNSS) constellations to complete space missions. The GNSS constellations is expected to provide reliable timing & navigation data to support space missions. For instance, in January 2021, under its Space Communications and Navigation (SCaN) program, NASA is developing a navigation architecture which is anticipated to provide precise and reliable Position, Navigation and Timing (PNT) data for the Artemis missions. GNSS signals is projected to be a part of this architecture and is expected to provide Artemis missions to the Moon with reliable timing and navigation data.
The navigation satellite system market is segmented on the basis of type, component, application, and region. By type, it is segmented into global constellations, regional constellations, and satellite-based augmentations. By component, it is classified into devices and services. By devices, it is further bifurcated into smartphones, mobiles & PDAs, personal tracking devices, sport & wearables, and other devices. By services, it is further bifurcated into added-value services and augmentation services. By application, it is fragmented into consumer and health solutions, road & automotive, and others.
Based on consumer and health solutions, it is further bifurcated into navigation & tracking, health & lifestyle, and tourism & corporate. By road & automotive, it is further fragmented into personal navigation device, road user charging, public transport buses, in-vehicle system, road fleet management, connected & automated driving, and others.
On the basis of others, it is further classified into aviation & drones, agriculture, maritime & inland waterways, infrastructure, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The growth of the global navigation satellite system market has propelled due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems and inaccuracy in GNSS data are the factors that restrain the growth of the market. Furthermore, fusion of 5G and GNSS is the factor expected to offer growth opportunities during the forecast period.
Space research agencies are focusing on utilization of signals from multiple global navigation satellite system (GNSS) constellations to complete space missions. The GNSS constellations is expected to provide reliable timing & navigation data to support space missions. For instance, in January 2021, under its Space Communications and Navigation (SCaN) program, NASA is developing a navigation architecture which is anticipated to provide precise and reliable Position, Navigation and Timing (PNT) data for the Artemis missions. GNSS signals is projected to be a part of this architecture and is expected to provide Artemis missions to the Moon with reliable timing and navigation data.
The navigation satellite system market is segmented on the basis of type, component, application, and region. By type, it is segmented into global constellations, regional constellations, and satellite-based augmentations. By component, it is classified into devices and services. By devices, it is further bifurcated into smartphones, mobiles & PDAs, personal tracking devices, sport & wearables, and other devices. By services, it is further bifurcated into added-value services and augmentation services. By application, it is fragmented into consumer and health solutions, road & automotive, and others.
Based on consumer and health solutions, it is further bifurcated into navigation & tracking, health & lifestyle, and tourism & corporate. By road & automotive, it is further fragmented into personal navigation device, road user charging, public transport buses, in-vehicle system, road fleet management, connected & automated driving, and others.
On the basis of others, it is further classified into aviation & drones, agriculture, maritime & inland waterways, infrastructure, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the navigation satellite market analysis from 2021 to 2031 to identify the prevailing navigation satellite market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the navigation satellite market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global navigation satellite market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Devices
- Services
By Type
- Global Constellations
- Regional Constellations
- Satellite-based Augmentation Systems
By Application
- Consumer and Health Solutions
- Road and Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Furuno Electric
- Hemisphere GNSS
- Hexagon
- L3 Harris Corporation
- Laird Plc
- Navtech GPS
- Qualcomm Inc
- Texas Instruments
- Topcon Corporation
- Trimble Inc.
- Garmin Ltd
- Raytheon Technologies Corp.
- SkyTraq Technology, Inc.
- STMicroelectronics
- Broadcom Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NAVIGATION SATELLITE SYSTEMS MARKET, BY COMPONENT
CHAPTER 5: NAVIGATION SATELLITE SYSTEMS MARKET, BY TYPE
CHAPTER 6: NAVIGATION SATELLITE SYSTEMS MARKET, BY APPLICATION
CHAPTER 7: NAVIGATION SATELLITE SYSTEMS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Navigation Satellite Market," the navigation satellite market was valued at $225.30 billion in 2021, and is estimated to reach $552.20 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.Asia-Pacific is expected to dominate the global navigation satellite market in 2031. The adoption of navigation satellite system is expected to increase in countries such as India, China, Japan, and others, owing to rise in development of cost-effective navigation satellite system, and high investment in defense, retail, military, and public transportation sectors. The market is driven by rise in commercial applications, increase in adoption of mobile devices; and greater need for high speed internet services.
The growth of the global navigation satellite market is propelling due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems, and inaccuracy in GNSS data are the factors that hamper the growth of the GNSS market. Furthermore, fusion of 5G and GNSS is the factor expected to offer growth opportunities during the forecast period.
The navigation satellite market is segmented on the basis of type, component, application, and region. On the basis of type, it is segmented into global constellations, regional constellations, and satellite-based augmentations. By component, it is classified into devices and services. By services, it is further bifurcated into added-value services and augmentation services. On the basis of application, it is fragmented into consumer and health solutions, road & automotive, and others.
COVID-19 Impact Analysis
- The COVID-19 crisis has created uncertainty in the navigation satellite market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions have already announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.
- However, GNSS (Global Navigation Satellite System) has been used for quarantine monitoring and enforcement, where it is utilized to set up a virtual perimeter for those people who are in self-quarantine through a process known as geofencing. For instance, in South Korea, government made it mandatory for anyone entering the country to download “Self-Quarantine Safety Protection Application” for their 14-day self-quarantine.
- GNSS-based applications have also been used to support precautionary measures. Location measures gained through use of GNSS have helped identify, map, and tag congested places & locations where individuals who have tested positive or have recently travelled. This data enabled the authorities to provide information about the places which need to be avoided.
Key Findings of the Study
- By component, the services segment is anticipated to exhibit significant growth in the near future.
- By type, the satellite-based augmentation systems segment is anticipated to exhibit significant growth in the near future.
- By application, the others segment is anticipated to exhibit significant growth in the near future.
- By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global navigation satellite market include, Broadcom Inc., Furuno Electric, Garmin Ltd. Hexagon AB, L3Harris Corporation, Laired Connectivity, Navtech GPS, Qualcomm Technologies Inc., Raytheon Technologies Corporation, SkyTraq Technology, Inc., STMicroelectronics N.V., Texas Instrument, Topcon Corporation, Trimble Inc., and UniStrong (Hemispere GNSS).
Companies Mentioned
- Furuno Electric
- Hemisphere Gnss
- Hexagon
- L3 Harris Corporation
- Laird plc
- Navtech Gps
- Qualcomm Inc
- Texas Instruments
- Topcon Corporation
- Trimble Inc.
- Garmin Ltd
- Raytheon Technologies Corp.
- Skytraq Technology, Inc.
- Stmicroelectronics
- Broadcom Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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