[Market Report] Navigation Satellite System Market
Report ID: AA03241218
Technology for Navigating Stars: The Future Woven by Navigation Satellites, Market to Double by 2022-2031, with an Astonishing Growth Rate of 9.5% per Year
The global navigation satellite system (GNSS) market is expected to experience rapid growth during the forecast period from 2023 to 2031. The market size is projected to expand from USD 246.7 billion in 2022 to USD 558.3 billion by 2031, with a compound annual growth rate (CAGR) of 9.5%. GNSS primarily refers to navigation satellite systems such as Galileo, GPS, and BeiDou, which are widely utilized in various fields including aviation, maritime, military, automotive, agriculture, surveying, and disaster management. Factors driving market growth include increased demand in the aviation and maritime industries, advancements in location-based technologies, and recognition of the benefits of GNSS. In particular, the proliferation of automotive and unmanned aerial vehicles (drones) is rapidly expanding the demand for GNSS. For application methods, please check the [PDF download] button or apply directly through the related links.
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Major Companies: Hemisphere GNSS Trimble Inc. Texas Instruments Broadcom Inc. Qualcomm Inc. STMicroelectronics Topcon Corporation Navtech GPS Laird Plc SkyTraq Technology Inc. L3 Harris Corporation Hexagon Garmin Ltd Raytheon Technologies Corp. Furuno Electric By Component: Devices Services By Type: Global Constellations Regional Constellations Satellite-Based Augmentation Systems By Application: Consumer and Health Solutions Road and Automotive Others
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