Position Navigation and Timing PNT Solution Market Share
What combination of drivers is leading to accelerated growth in the position, navigation, and timing (pnt) solution market?
The surge in demand for autonomous vehicles is predicted to spur growth in the market for positioning, navigation, and timing solutions. These self-navigating or autonomous vehicles can perform necessary tasks without human input, hence the need for positioning, navigation, and timing solutions. These solutions furnish precise positional data, navigational instructions, and time synchronization, thereby ensuring the safety and efficiency of these vehicles. For example, in December 2022, the Insurance Institute for Highway Safety, a non-profit organization based in the U.S., released a report projecting that by 2025 there would be 3.5 million autonomous or self-driving vehicles on American roads. Furthermore, the projection for 2030 is 4.5 million autonomous vehicles. Therefore, the increasing demand for such vehicles is expected to propel the position, navigation, and timing solution market.
Get Your Position, Navigation, and Timing (PNT) Solution Market Report Here:
https://www.thebusinessresearchcompany.com/report/position-navigation-and-timing-pnt-solution-global-market-report
What is the projected compound annual growth rate (CAGR) of the position, navigation, and timing (pnt) solution market from 2025 to 2034, and what factors influence it?
The market size for Position, Navigation, and Timing (PNT) solutions has skyrocketed in recent years. It is projected to expand from its value of $1.39 billion in 2024 to reach $1.57 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 13.4%. This significant growth during the historical period can be linked to the advancements in precision agriculture, autonomous and networked vehicles, Inertial Navigation Systems (INS), Global Positioning System (GPS), as well as multi-constellation systems.
The market size for position, navigation, and timing (PNT) solutions is set to experience notable expansion in the coming years, ballooning to a valuation of $2.39 billion by 2029 with an 11.0% compound annual growth rate (CAGR). This anticipated surge within the projected period can be linked to the advent of state-of-the-art satellite systems, quantum technologies, integration of 5G technology, advanced inertial navigation systems, and the upsurge of low earth orbit (LEO) satellites. Other key trends contributing to the growth during the forecast period encompass regulatory advances, sturdy anti-spoofing and anti-jamming technologies, development of augmentation systems, the rise of new navigation technologies, and the integration with the internet of things (IoT).
Get Your Free Sample Now – Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14163&type=smp
How are the latest trends influencing the growth of the position, navigation, and timing (pnt) solution market?
Key companies in the position, navigation, and timing solution market are emphasizing on the development of sensor-based technology products like PNT boards in an effort to bolster their market standing. A PNT board is an electronics module that integrates the primary PNT functionalities: positioning, navigation, and timing. For example, in January 2022, Concurrent Technologies, a UK-based manufacturer of PNT solutions, introduced the Rugged 3U VPX PNT plug-in card. The Rugged 3U VPX is designed to provide reliable and precise PNT details in difficult environments. The PNT board, designed in line with the Sensor Open Systems Architecture (SOSA) technology standards, fosters compatibility while lowering the design timeframe and expenses. The board combines a GNSS receiver, an inertial measurement unit, and a precision timing module to deliver reliable and accurate PNT information.
What are the major segments of the position, navigation, and timing (pnt) solution market and their role in driving growth?
The position, navigation, and timing (PNT) solution market covered in this report is segmented –
1) By Type: Precise Point Positioning (PPP), Real-Time Kinematic (RTK), Precise Point Positioning-Real-Time Kinematic (PPP-RTK), Wide-Area Real-Time Kinematics (WARTK)
2) By Component: Satellite, Ground
3) By Application: Navigation, Positioning, Precision Timing, Geo-Location
4)By End User: Defense, Commercial, Government And Civil
Subsegments:
1) By Precise Point Positioning (PPP): Static PPP Solutions, Kinematic PPP Solutions, Networked PPP Solutions
2) By Real-Time Kinematic (RTK): Single-Base RTK Solutions, Network RTK Solutions, RTK For Agriculture And Construction
3) By Precise Point Positioning-Real-Time Kinematic (PPP-RTK): Integrated PPP-RTK Solutions, Applications In Autonomous Vehicles, Surveying And Mapping Applications
4) By Wide-Area Real-Time Kinematics (WARTK): Wide-Area Networks For WARTK, WARTK For Large-Scale Applications, Hybrid WARTK Solutions
Unlock Exclusive Market Insights – Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14163
Which regions are key players in the growth of the position, navigation, and timing (pnt) solution market?
North America was the largest region in the position, navigation, and timing (PNT) solution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the position, navigation, and timing (PNT) solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the position, navigation, and timing (pnt) solution market?
Major companies operating in the position, navigation, and timing (PNT) solution market are Lockheed Martin Corporation, Qualcomm Technologies Inc, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International, BAE Systems plc, Safran S.A., Thales SA, Collins Aerospace, L3Harris Technologies Inc, Booz Allen Hamilton Inc., CACI International, Garmin Ltd, Parsons Corporation, Saab Ab, Israel Aerospace Industries, Trimble Inc, Leonardo DRS Inc, QinetiQ, VIAVI Solutions Inc., Adtran Inc., Spirent Communications plc, Telespazio S.p.A., NovAtel Inc. (Hexagon AB), WR Systems Ltd, Integrated Solutions for Systems Inc., Chelton Limited, SpacePNT Sàrl, NextNav Inc
Customize Your Report – Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=14163&type=smp
What Is Covered In The Position, Navigation, and Timing (PNT) Solution Global Market Report?
•Market Size Forecast: Examine the position, navigation, and timing (pnt) solution market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the position, navigation, and timing (pnt) solution market for a structured understanding.
•Key Players Overview: Analyze major players in the position, navigation, and timing (pnt) solution market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the position, navigation, and timing (pnt) solution market.
•Segment Contributions: Evaluate how different segments drive overall growth in the position, navigation, and timing (pnt) solution market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the position, navigation, and timing (pnt) solution market.
•Industry Challenges: Identify potential risks and obstacles affecting the position, navigation, and timing (pnt) solution market.
•Competitive Landscape: Review strategic developments in the position, navigation, and timing (pnt) solution market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
