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The Position, Navigation, and Timing (PNT) Solution Market Size is valued at 1.24 Bn in 2022 and is predicted to reach 2.97 Bn by the year 2031 at a 10.4% CAGR during the forecast period for 2023-2031.
A system that offers precise and trustworthy information about the position, velocity, and time for different applications is known as a Position, Navigation, and Timing (PNT) solution. It is crucial in a variety of sectors, including telecommunications, surveying, aerospace, and transportation.
The demand for precise and dependable PNT solutions has increased as location-based services are being used in a variety of sectors, consisting transportation, logistics, and mobile apps. Real-time tracking, navigation, geofencing, and asset management are some of these services. There is an international need for PNT solutions. The market for PNT solutions is expanding due to the globalization of sectors requiring precise positioning, navigation, and timing services.
However, budgets and investments in several areas were cut back during the pandemic because of economic uncertainty, which had an impact on the uptake of PNT solutions. Due to financial limitations, organizations and corporations may have delayed or scaled back their ambitions to deploy PNT technologies.
The Position, Navigation, and Timing (PNT) Solution Market is divided on the basis of application, end-user, type and component. As per the application, the market is divided into navigation, positioning, precision timing, and geo-location. By end-user, the market is segmented into defense, commercial, government and civil. As per the components, the market is segmented into satellite and ground. By type, the market is Precise Point Positioning (PPP), Real-time Kinematic (RTK), PPP-RTK, and WARTK. The end-user segment includes defense, commercial, government and civil.
The passenger vehicles category is expected to hold a major share in the global Position, Navigation, and Timing (PNT) Solution Market in 2022. Due to the increasing use of autonomous technologies, such as drones and self-driving cars, navigation solutions are positioned to dominate the industry.
To identify precise coordinates and enable navigation in a variety of situations, they make use of satellite-based positioning technologies like global navigation satellite systems (GNSS). Personal navigation devices, automobile navigation systems, maritime navigation systems, and aviation navigation systems are other navigation applications. As a result, new navigation technologies are being developed to accommodate the need for these systems.
The defense segment is projected to grow at a rapid rate in the global Position, Navigation, and Timing (PNT) Solution Market due to PNT solutions are highly sought-after in contemporary military operations. In order to target and attack specific targets with precision, precision-guided systems like guided missiles, smart bombs, and artillery systems need very accurate PNT data. Demand is growing as a result of the defense industry's investments in cutting-edge PNT solutions to improve the efficiency & accuracy of these systems.
The North America Position, Navigation, and Timing (PNT) Solution Market is expected to register the highest market revenue share in the near future. The market in the area is being driven by the presence of more reputable position, navigation, and timing (PNT) solution providers.
The market potential is being paved by the presence of significant industry players like Northrop Grumman, Raytheon Technologies Corporation, NovAtel, and Qualcomm Technologies, Inc. in the area with growth strategies, including partnerships. Additionally, the region now has a greater need for precise and dependable PNT solutions thanks to the development of new technologies like machine learning (ML), artificial intelligence (AI), and Internet of Things (IoT) gadgets. Asia Pacific is expected to grow at a significant rate. The demand for PNT solutions in building, transit, and smart city projects has expanded as a result of the region's significant industrial and infrastructure growth.
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Report Attribute |
Specifications |
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Market size value in 2022 |
USD 1.24 Bn |
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Revenue forecast in 2031 |
USD 2.97 Bn |
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Growth rate CAGR |
CAGR of 10.4% from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
By Application, Component, Type, End-User |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
NextNav Inc., BAE Systems, Inc., Qualcomm Technologies, Inc., NovAtel (Hexagon AB), Raytheon Technologies Corporation, Safran, Booz Allen Hamilton Inc., Garmin Ltd., Northrop Grumman Corporation, Saab Ab, Telespazio S.p.A., Thales Group, Amazon Web Services, Inc., and L3Harris Technologies, Inc. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Position, Navigation, and Timing (PNT) Solution Market Snapshot
Chapter 4. Global Position, Navigation, and Timing (PNT) Solution Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Industry
Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type & Market Share, 2019-2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Type:
5.2.1. Precise Point Positioning (PPP)
5.2.2. Real-time Kinematic (RTK)
5.2.3. PPP-RTK
5.2.4. WARTK
Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. By Type & Market Share, 2019-2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Application:
6.2.1. Navigation
6.2.2. Positioning
6.2.3. Precision Timing
6.2.4. Geo-Location
Chapter 7. Market Segmentation 3: By Component Estimates & Trend Analysis
7.1. By Type & Market Share, 2019-2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Component:
7.2.1. Satellite
7.2.1.1. Hardware
7.2.1.1.1. Atomic Clocks
7.2.1.1.2. Transponders
7.2.1.1.3. Antenna
7.2.1.1.4. Sensors
7.2.1.1.5. Power Amplifiers
7.2.1.1.6. Receivers
7.2.1.1.7. Others
7.2.1.2. Software
7.2.2. Ground
7.2.2.1. Antenna
7.2.2.2. Land-Based Transmitter
7.2.2.3. Receivers
7.2.2.4. Power Units
7.2.2.5. Sensors
7.2.2.6. Ground-Based Atomic Clocks
7.2.2.7. Others
Chapter 8. Market Segmentation 4: By End User Estimates & Trend Analysis
8.1. By Type & Market Share, 2019-2031
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By End User:
8.2.1. Defense
8.2.1.1. Land
8.2.1.2. Airborne
8.2.1.3. Naval
8.2.2. Commercial
8.2.2.1. Transport and Logistics
8.2.2.2. Aviation
8.2.2.3. Agriculture
8.2.2.4. Marine
8.2.2.5. Surveying and Mobile Mapping
8.2.2.6. Others
8.2.3. Government and Civil
8.2.3.1. Critical Government Infrastructure
8.2.3.2. Traffic Management
8.2.3.3. Rail Control and Management
8.2.3.4. Disaster Management
8.2.3.5. Others
Chapter 9. Position, Navigation, and Timing (PNT) Solution Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Type, 2023-2031
9.1.2. North America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Application, 2023-2031
9.1.3. North America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Component, 2023-2031
9.1.4. North America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By, End User 2023-2031
9.1.5. North America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts by country, 2023-2031
9.1.5.1. U.S.
9.1.5.2. Canada
9.2. Europe
9.2.1. Europe Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) By Type, 2023-2031
9.2.2. Europe Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Application, 2023-2031
9.2.3. Europe Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Component, 2023-2031
9.2.4. Europe Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By End User ,2023-2031
9.2.5. Europe Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) by country, 2023-2031
9.2.5.1. Germany
9.2.5.2. Poland
9.2.5.3. France
9.2.5.4. Italy
9.2.5.5. Spain
9.2.5.6. UK
9.2.5.7. Rest of Europe
9.3. Asia Pacific
9.3.1. Asia Pacific Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) By Type, 2023-2031
9.3.2. Asia Pacific Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Application, 2023-2031
9.3.3. Asia Pacific Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Component, 2023-2031
9.3.4. Asia Pacific Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By End User, 2023-2031
9.3.5. Asia Pacific Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) by country, 2023-2031
9.3.5.1. China
9.3.5.2. India
9.3.5.3. Japan
9.3.5.4. Australia
9.3.5.5. Rest of Asia Pacific
9.4. Latin America
9.4.1. Latin America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) By Type, 2023-2031
9.4.2. Latin America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Application, 2023-2031
9.4.3. Latin America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Component, 2023-2031
9.4.4. Latin America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By End User, 2023-2031
9.4.5. Latin America Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) by country, (US$ Million) 2023-2031
9.4.5.1. Brazil
9.4.5.2. Rest of Latin America
9.5. Middle East & Africa
9.5.1. Middle East & Africa Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) By Type, (US$ Million)
9.5.2. Middle East & Africa Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Application, 2023-2031
9.5.3. Middle East & Africa Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By Component, 2023-2031
9.5.4. Middle East & Africa Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) estimates and forecasts By End User, 2023-2031
9.5.5. Middle East & Africa Position, Navigation, and Timing (PNT) Solution Market revenue (US$ Million) by country, (US$ Million) 2023-2031
9.5.5.1. South Africa
9.5.5.2. GCC Countries
9.5.5.3. Rest of MEA
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. NextNav Inc.
10.2.2. BAE Systems, Inc.
10.2.3. Qualcomm Technologies, Inc.
10.2.4. NovAtel (Hexagon AB)
10.2.5. Raytheon Technologies Corporation
10.2.6. Safran
10.2.7. Booz Allen Hamilton Inc.
10.2.8. Garmin Ltd.
10.2.9. Northrop Grumman Corporation
10.2.10. Saab Ab
10.2.11. Telespazio S.p.A.
10.2.12. Thales Group
10.2.13. Amazon Web Services, Inc.
10.2.14. L3Harris Technologies, Inc.
Position, Navigation, and Timing (PNT) Solution Market By Application-
Position, Navigation, and Timing (PNT) Solution Market By Component
Position, Navigation, and Timing (PNT) Solution Market By Type-
Position, Navigation, and Timing (PNT) Solution Market By End-User-
Position, Navigation, and Timing (PNT) Solution Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
