Navigation Satellite System Technology Market to Observe Strong Development by 2027

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.

Global navigation satellite system technology market can be segmented by application, and satellite technology.On the basis of application, global navigation satellite system technology market can be segmented across agriculture, aviation, location-based services (lbs), maritime, road, rail, surveying and timing and synchronization.On the basis of satellite technology, global navigation satellite system technology market can be segmented into Global Constellations, and Satellite-Based Augmentation Systems (SBAS), where Global Constellations includes GPS, GLONASS, Galileo, and BeiDou.

Global navigation satellite system (GNSS) is a satellite-based solution which is used to locate the geographic location of a user’s mobile receiving device anywhere in the world. Three GNSS systems are in operations currently i.e. Global Orbiting Navigation Satellite System (GLONASS) by the Russian Federation, Galileo by Europe Union, and Global Positioning System (GPS) by the United States. The Global Navigation Satellite System (GNSS) solutions play vital part in the capability of the countries to decide the position, local time, and velocity from satellites in space. Over the past few years, a rapid growth in the adoption of GNSS commercial applications has been detected by the firms which build navigation satellites and equipment.

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.

The market is dominated by a significant number of vendors that offer global navigation satellite systems technology solutions. The competition is tough among leading vendors on the basis of aspects such as quality, security and solutions. Some of the key players for navigation satellite system technology market include Qualcomm, Broadcom, MediaTek, SkyTraq, Intel, STMicroelectronics, FURUNO, Raytheon Company, Rockwell Collins, TomTom NV, Topcon Corporation, Trimble Navigation Ltd. and u-blox.The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5489