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Satellite Position, Navigation, and Timing (PNT) Technology Market - A Global and Regional Analysis

Focus on Application, End User, Component, and Country - Analysis and Forecast, 2021-2031

 
Some Faq's

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The global satellite position, navigation, and timing (PNT) technology market is valued at $961.7 million in 2020 and it is estimated to reach $8,817.3 million by 2031, at a compound annual growth rate (CAGR) of 22.45% during the forecast period 2021-2031. 

The top market players are Garmin Ltd., Northrop Grumman Corporation, BAE Systems, Inc., Qualcomm Technologies Ltd., Hexagon AB, Novatel Inc., Raytheon Technologies, WR Systems, Saab Ab, Telespazio, Thales Group, Orolia Holding SAS, Booz Allen Hamilton, Safran.

The main factor driving the growth of the satellite position, navigation, and timing (PNT) technology market is the increasing demand for operational efficiency of PNT technology.

Some of the main challenges restricting the growth of the satellite position, navigation, and timing (PNT) technology market are the high cost of maintaining and upgrading the existing PNT technology, and country regulations and political landscape.

The main opportunity to boost the growth of the electric vehicle virtual prototyping market is the emergence of the private sector offering PNT technology.

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