Navigation Satellite System Market Poised for Robust Growth, forecasted to Expand at 7.23% CAGR from 2022-27

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Navigation Satellite System (GNSS) Market is projected to grow at a CAGR of around 7.23% during the forecast period, 2022-27.

Report Coverage

This report offers a comprehensive analysis of the Navigation Satellite System Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

  • Base Year: 2021
  • Forecast Years: 2022-27
  • Historical Years: 2017-20

Navigation Satellite System Market Overview

The market has witnessed significant growth in the historical period of 2017-2021. With the rising demand for navigation-based services across various industries such as transportation, commercial businesses, e-commerce, delivery services, etc., the demand for navigation-enabled systems has grown in the respective period. The rise in the online sales of goods has contributed enormously to navigation-based systems with the growing need for real-time tracking of goods to ensure smooth deliveries.

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Navigation Satellite System Market Segmentation Outlook

The Navigation Satellite System is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type

  • Global Constellation
  • Regional Constellations
  • Satellite-Based Augmentation

By Application

  • Rail
  • Aviation
  • Maritime
  • Surveying
  • Time Synch
  • Agriculture
  • Location-Based Service (LBS)
  • Road
  • Military
  • Others

By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Navigation Satellite System Market Trend

AI-based Navigation Satellite System is Accelerating the Market Growth- Navigation services have become an essential part of the day-to-day operations of the businesses as well as have increasingly made customers reliant on navigation for the route & rerouting in transportation. With the addition of AI in navigation-based services, the companies could easily reduce the errors made in the earlier experience as well as improve the overall customer experience. For military purposes, navigation services are being used for targeting & mapping the path of aircraft, projectiles, etc. Moreover, with the mobile targets, the requirement for AI to be integrated into the navigation satellite systems to provide an optimum solution for rerouting in different terrains would be highly efficient for increasing the effectiveness.

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Top Navigation Satellite System Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Qulacomm Inc, Texas Instruments, Trimble Inc, Broadcomm Inc, Hexagon, Furuno Electrics, Intel Inc, Cobham Limited, Rockwell Collins, Topcon Corporation, Garmin International Inc., L3 Harris, TomTom International BV, Raytheon Technologies,Others as key players shaping the market landscape.

Navigation Satellite System Market News

  • In 2022, Qualcomm Technologies & Trimble TRMB announced the launch of the new technology of Trimble RTX GNSS for Snapdragon 8 Gen 1 & Snapdragon 888 Mobile Platforms. This technology allows superior location capabilities in these Android smartphones worldwide. It aimed to provide higher quality & accurate location-based user experience in-car navigation with lane-level guidance.

Key Questions Answered in the Report

  • What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
  • How the industry has been evolving, and which segments would dominate the market during the forecast period?
  • What are the key opportunity areas that companies foresee in the coming years 2027?
  • Who are the key players in the market, and what are their competitive strengths?
  • What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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