The global navigation satellite systems market revenue was around US$ 246.7 billion in 2022 and is estimated to reach US$ 558.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period from 2023 to 2031.
The term "global navigation satellite system" (GNSS) describes a group of satellites that send signals into space that allow GNSS receivers to receive position, navigation, and time data. It offers customers everywhere precise real-time timing and positioning services. GNSS refers to a group of satellite navigation systems that includes Galileo, GPS, and Beidou.
Market Driving Factors
The emergence of driverless technologies to drive the market. A complete automated vehicle, the services or product delivery via Unmanned aerial vehicles {UAVs), needs cutting-edge navigation system technology to offer accurate positioning solutions. In addition, incorporating global navigation satellite system receivers in such applications will offer exact location and time details. This real-time data is needed to navigate unmanned ground vehicles (UGV) & UAVs on the road and maintain their secure distance from possible accidents. As a result, this technology enables efficient and reliable unmanned vehicle operations.
The surge in reliance on location-based services is predicted to boost the market growth. Location-based services (LBSs) are services set that utilize real-time geo-data via internet-capable devices to offer details about the current location. LBSs are significantly dependent on geographical mapping, which is carried out with the aid of satellite imagery received via navigation satellites. Moreover, LBSs assist during rescue events, floods, and natural calamities, and for weather forecasting to create future programs to facilitate the situational events. Thus, most nations mandate the usage of LBSs as they assist in decision-making for civil defense operations.
Inaccurate GNSS data and cyberattacks that affect navigation satellite systems are estimated to limit the market growth.
Regional Analysis
North America dominated the market in terms of the market and is predicted to maintain its dominance. This can be majorly attributed to the multi-sensor data acquisition system for monitor mapping that is highly utilized in the nation. Furthermore, the Driver Advisory System (DAS) is highly adopted in Canada for rail applications to optimize traffic flow, smaller energy, and low price is predicted to drive the market in the region.
Asia-Pacific is estimated to dominate the market in terms of shares. This is mainly owing to the surge in the adoption of navigation satellites in nations such as China, India, Japan, and others due to the increase in the development of price-effective navigation satellite systems, and high investment in retail, defense, military, and public transportation sectors in the region.
Segmentation Insights
Type Insight
The global constellations segment is estimated to dominate the market in terms of the highest revenue share. These global constellations allow users globally to access exact location and timing details. They serve a broad range of applications and industries, including agriculture, transportation, emergency services, and telecommunications. Furthermore, the availability of multiple global constellations provides redundancy and stability in GNSS services, confirming that users have access to reliable navigation and positioning data in different regions and under various conditions.
The regional constellation segment is predicted to dominate the market in terms of growth rate. These constellations offer coverage and navigation services within distinct geographical areas or regions, focusing on improving positioning accuracy and dependability in those particular regions. For instance, in September 2023, Navigation with Indian Constellation (NavIC) is India's regional GNSS system, created to cover the Indian subcontinent and surrounding areas. It consists of a constellation of satellites that offers highly exact positioning and timing data for users in India and neighbouring regions.
Prominent Companies
Segmentation Outline
The global navigation satellite systems market segmentation focuses on Component, Type, Application, and Region.
By Component
By Type
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: NAVIGATION SATELLITE SYSTEMS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 DEVICES
5.3 SERVICES
6 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET, BY TYPE
6.1 OVERVIEW
6.2 GLOBAL CONSTELLATIONS
6.3 REGIONAL CONSTELLATIONS
6.4 SATELLITE-BASED AUGMENTATION SYSTEMS
7 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 CONSUMER AND HEALTH SOLUTIONS
7.3 ROAD AND AUTOMOTIVE
7.4 OTHERS
8 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL NAVIGATION SATELLITE SYSTEMS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 HEMISPHERE GNSS
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 TRIMBLE INC.
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 TEXAS INSTRUMENTS
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 BROADCOM INC.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 QUALCOMM INC
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 STMICROELECTRONICS
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 TOPCON CORPORATION
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 NAVTECH GPS
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 LAIRD PLC
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 SKYTRAQ TECHNOLOGY INC.
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 L3 HARRIS CORPORATION
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 HEXAGON
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 GARMIN LTD
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 RAYTHEON TECHNOLOGIES CORP.
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 FURUNO ELECTRIC
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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