The Europe Position, Navigation, and Timing (PNT) solution market have seen significant growth driven by the increasing demand for precise positioning in smartphones, wearables, and vehicle navigation systems.
Integration with AI and ML technologies enhances navigation and decision-making capabilities, while the fusion with advanced sensors like LiDAR and radar improves mapping and surveying.
Key players are advancing offerings through sophisticated algorithms, multi-constellation satellite systems, and additional sensors like DGPS and RTK positioning, enhancing accuracy. Europe leads in PNT innovation and adoption, with a dynamic market set for further expansion and development.
Recently, BIS Research released the Europe Position, Navigation, and Timing (PNT) Solution Market Report which covers data from the base year 2023, indicating a market size of $494.6 million. The forecast extends from 2023 to 2033, projecting a market value of $1,343.7 million by 2033, with a CAGR of 10.51% during the forecast period.
Segmentation 1: by End User
• Defense
• Commercial
• Government and Civil
Segmentation 2: by Component
• Satellite
• Ground
Segmentation 3: GNSS Correction Services by Type
• Precise Point Positioning (PPP)
• Real-time Kinematic (RTK)
• PPP-RTK
• WARTK
Segmentation 4: by Country (Satellite)
• U.K.
• France
• Germany
• Russia
• Rest-of-Europe
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• BAE Systems, Inc.
• Safran
• Garmin Ltd.
• Saab AB
• Telespazio S.p.A.
• Thales Group
Nilopal Ojha, principal analyst at BIS Research: " Europe's Position, Navigation, and Timing (PNT) market surge is propelled by escalating smartphone usage and the need for precise navigation. Key trends encompass satellite reliance, with GPS, Galileo, and other systems pivotal for PNT solutions. Integration with mobile devices, especially smartphones, drives app development and location-based services. There's a notable emphasis on accuracy, particularly for autonomous vehicles and drones. Cybersecurity emerges as a crucial concern, necessitating protection against hacking and signal interference. Moreover, GNSS augmentation technologies like SBAS enhance PNT accuracy, reflecting a dynamic landscape embracing innovation and security measures.”
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