Satellite PNT Technology Market Size, Growth, Forecast, Overview 2021-2031

Posted by BIS RSRCH on January 11th, 2022

With increasing digitization, robust road and rail navigation applications are gaining prominence along with resilient navigation applications for commercial aviation, marine operations, logistics and transport services, and precision agriculture in the commercial sector. Demand for drones and unmanned aerial vehicles in the commercial and defense sector is also a leading factor for its growth. Moreover, the advent of autonomous and self-driving cars will further catalyze the growth of navigation applications.

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The competitive landscape of the satellite PNT technology market consists of different business and corporate strategies conducted by major players across the industry to gain market presence. Some strategies adopted by satellite PNT technology providers include long-term contracts, acquisitions, agreements, new product launches, business expansion, and partnerships, and collaborations. The most prominent strategy that has been adopted by the players in the satellite PNT technology market includes long-term government contracts, acquisitions, and collaborations.

The satellite PNT technology providers also indulge in numerous tie-ups with international and national space agencies as well as commercial space players. For instance, the OneWeb company was selected by the U.K. in 2020 to develop its navigation satellite system following the Brexit. Moreover, in May 2021, OneWeb and U.K. Space Agency announced a collaboration to develop a new beam-hopping satellite that would allow satellites to change what area of the planet they cover owing to increasing commercial demand for responding to emergencies such as natural disasters.

On 3rd December 2020, many satellite PNT technology companies announced the establishment of a coalition called the Open PNT Industry Alliance. This alliance comprises prominent companies such as Iridium Communications, infiniDome, Jackson Labs Technologies, NAVSYS Corporation, NextNav, OPNT, Orolia, Qulsar, Satelles, and Seven Solutions. This newly formed coalition aims to support government endeavors to accelerate the implementation of backup positioning, navigation, and timing capabilities for critical infrastructure and encourage collaboration between the public and private sectors. Since the existing GNSS/GPS are susceptible to both service disruptions and deliberate attacks, the Open PNT Industry Alliance intends to share its expertise with governments worldwide to help establish policies, define regulations, and laws that can help achieve their national security ambitions. This coalition is also focused on establishing a self-sufficient funding structure that grants the development and adoption of multiple sources of PNT to meet the needs of various military, commercial, and government sectors.

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The satellite PNT technology providers are also growing their businesses by entering strategic partnerships with smaller enterprises and start-ups for a global footprint in the satellite position, navigation, and timing technology market. The market players are also investing in emerging economies and underdeveloped countries to increase their customer base and offer digitized navigation, timing, and locating services.

The satellite PNT technology has gained significant importance over the last decade. The increase in the requirement of the resilient and secure position, navigation, location, and timing data across the globe for various defense, commercial, and civilian applications without interruption has generated the demand for a robust PNT ecosystem consisting of hi-tech antennas, receivers, and atomic clocks. The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research along with analytical tools to predict the forecast analysis for the study period. With the help of these, the global satellite PNT technology study provides a broader perspective of the industry.

The demand for resilient and reliable satellite PNT technology provided by GNSS has increased significantly over the years owing to innovation in the defense, commercial, automobile, and transport sectors. The increasing use of smartphones and similar smart devices has also increased the scope of growth and modernization in the position, navigation, and timing technology market. At present, national security, critical government infrastructure, military operations, financial operations, and other major industries such as agriculture and mining rely on the precision satellite PNT technology to conduct their operations and will continue to depend on this technology for development in the future.

Application such as squadron coordinates for military missions, precise location data for search and rescue operations, disaster monitoring, and efficiency in areas such as construction, oil and gas, and mining are dependent on satellite PNT technology. The value of these services is growing rapidly, but the position, navigation, and timing technology are susceptible to disruptions, interruptions, and manipulations which can cause socio-economic challenges. Therefore, the demand for operational efficiency of satellite PNT technology is increasing substantially.