Position, Navigation, and Timing Solutions (PNT) Global Market Report 2024

The position, navigation, and timing solutions (PNT) market size has grown rapidly in recent years. It will grow from $1.46 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The expansion witnessed in the historical period can be credited to several factors, including heightened military needs for precise positioning, navigation, and timing capabilities, the aviation industry's requirement for dependable navigation and timing systems, growth within the transportation and logistics sectors, the incorporation of GPS and PNT functionalities into consumer electronics, government regulations, and the emergence of new industry standards.

The position, navigation, and timing solutions market size is expected to see rapid growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The anticipated expansion in the forecast period can be attributed to several factors, including the proliferation of autonomous vehicles, advancements in smart city infrastructure development, the growing integration of position, navigation, and timing functionalities, increased adoption of commercial drones, and the expansion of the maritime industry. Notable trends expected in the forecast period encompass the integration of AI and machine learning technologies, bolstered cybersecurity measures, the incorporation of 5G technology, adoption of quantum-safe cryptography, and the customization of PNT solutions tailored for specific industries.

The anticipated surge in GPS-enabled device adoption is poised to drive the expansion of the position, navigation, and timing solutions (PNT) market. GPS-enabled devices are those capable of accessing and utilizing the global positioning system (GPS) for positioning and navigation purposes. The increasing uptake of GPS devices can be attributed to various factors, including the growing demand for location-based services, heightened focus on fleet management, asset tracking, and personal safety. The global positioning system (GPS) furnishes precise positioning, navigation, and timing (PNT) data to users worldwide, provided they have an unobstructed line of sight to four or more GPS satellites. For instance, according to a November 2023 online survey conducted by the SafeHome organization, a US-based centerfield media company, out of 1,025 American adults polled, 170 million Americans owned at least one GPS or location-tracking device other than a smartphone. Additionally, within the next six months, 27% of Americans intend to purchase at least one location-enabled device. Consequently, the increasing adoption of GPS-enabled devices is fueling the growth of the position, navigation, and timing solutions (PNT) market.

Key players in the position, navigation, and timing solutions (PNT) market are concentrating on harnessing advanced technologies, such as AI-based smart power management, to gain a competitive advantage. AI-based smart power management involves the utilization of artificial intelligence (AI) algorithms to optimize the energy consumption and efficiency of devices like GPS receivers, navigation systems, and timing devices. For instance, in January 2024, Tack One Pte Ltd., a Singapore-based company specializing in IoT products and location tracking services, introduced the Tack GPS Plus, an innovative global tracker that revolutionizes location technology for consumers. It boasts an Indoor Elevation Finder feature, ensuring exceptional performance for both indoor and outdoor applications. Leveraging advanced technologies such as AI-driven power management and low-power IoT networks, the device maintains a 30-day battery life while delivering global tracking capabilities at an affordable price point.

In October 2022, VIAVI Solutions Inc., a US-based manufacturer of testing and monitoring equipment, acquired Jackson Labs Technologies for an undisclosed sum. This acquisition aims to bolster VIAVI's operational efficiency by integrating state-of-the-art technology and high-performance products, thereby enhancing profitability. Furthermore, it positions the company to augment its offerings in the rapidly evolving PNT sector. Jackson Labs Technologies, based in the US, specializes in providing position, navigation, and timing (PNT) solutions for both military and civilian critical infrastructure.

Major companies operating in the position, navigation, and timing solutions (PNT) market are Qualcomm Technologies Inc., Northrop Grumman Corporation, Honeywell International Inc., BAE Systems Inc., Safran S.A., Thales Group, Collins Aerospace Ltd., L3Harris Technologies Inc., STMicroelectronics N.V., Analog Devices Inc., Booz Allen Hamilton Inc., Trimble Inc., Huber+Suhner AG, u-blox Holding AG, Spirent Communications plc, Telespazio S.p.A., Topcon Positioning Systems Inc., NovAtel Inc., KVH Industries Inc., Vicom Australia Pty Ltd, Javad GNSS Inc., Chronos Technology Ltd., Concurrent Technologies Corporation, Swift Navigation Inc., Septentrio N.V., Tersus GNSS Inc., NextNav Inc.

North America was the largest region in the position, navigation, and timing solutions (PNT) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the position, navigation, and timing solutions (PNT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the position, navigation, and timing solutions (PNT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Positioning, navigation, and timing (PNT) encompass a range of technologies and systems utilized for precise determination of geographic location and time measurements. These systems serve purposes such as navigation, time synchronization, and location-based services, playing crucial roles in diverse activities spanning transportation, telecommunications, emergency response, and scientific research.

The primary types of position, navigation, and timing solutions (PNT) include precise point positioning (PPP), real-time kinematics (RTK), PPP-RTK, and WARTK (Wide Area Real Time Kinematic). Precise point positioning (PPP) denotes a method of positioning that mitigates or models GNSS errors to furnish high-precision location accuracy employing a single receiver. This solution encompasses various components, including satellite and ground elements, utilized across multiple applications such as navigation, positioning, precision timing, and geo-location. Diverse end users of this solution include defense, commercial entities, government agencies, and civil sectors.

The position, navigation, and timing Solutions (PNT) market research report is one of a series of new reports that provides position, navigation, and timing solutions (PNT) market statistics, including position, navigation, and timing solutions (PNT) industry global market size, regional shares, competitors with position, navigation, and timing solutions (PNT) market share, detailed position, navigation, and timing solutions (PNT) market segments, market trends, and opportunities, and any further data you may need to thrive in the position, navigation, and timing solutions (PNT) industry. This position, navigation, and timing solutions (PNT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The positioning, navigation, and timing (PNT) solutions market consists of revenues earned by entities by providing services, such as multi-constellation support, real-time and post-processing capabilities, global coverage, and high accuracy. The market value includes the value of related goods sold by the service provider or included within the service offering. The positioning, navigation, and timing (PNT) solutions market also includes sales of navigation satellite systems (GNSS) receivers, inertial measurement units (IMUs), atomic clocks, antennas, timing modules, and navigation displays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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