Position, Navigation, and Timing (PNT) Solution Market to Hit $2.97 Billion by 2031.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Position, Navigation, and Timing (PNT) Solution Market- (By Application (Navigation, Positioning, Precision Timing, Geo-Location), By Component (Satellite (Hardware, Software), Ground (Antenna, Land-Based Transmitter, Receivers, Power Units, Sensors, Ground-Based Atomic Clocks, Others), By Type (Precise, Point Positioning (PPP), Real-time Kinematic (RTK), PPP-RTK, WARTK), By End-User (Defense, Commercial, Government and Civil)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Position, Navigation, and Timing (PNT) Solution Market is valued at US$ 1.24 Bn in 2022, and it is expected to reach US$ 2.97 Bn by 2031, with a CAGR of 10.4% during a forecast period of 2023-2031.

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PNT systems use a variety of technologies and signals from many sources to pinpoint exact locations, traverse paths and synchronize time. PNT solutions must be reliable and accurate since they are essential in fields where precision, efficiency, and safety are top priorities. The emergence of self-driving cars and drones has increased the demand for precise and dependable PNT solutions that guarantee correct and safe navigation. These new technologies' autonomy and navigational skills are crucially dependent on PNT technology. For mission-critical applications, including navigation, surveillance, reconnaissance, and precision-guided weapons, the military and defense industries are key customers of PNT technology. A significant priority in military operations is ensuring robust and secure PNT solutions. Technology developments in PNT systems have increased their accuracy, dependability, and efficiency as a result of ongoing research and development initiatives.

List of Prominent Players in the Position, Navigation, and Timing (PNT) Solution Market:
• NextNav Inc.
• BAE Systems, Inc.
• Qualcomm Technologies, Inc.
• NovAtel (Hexagon AB)
• Raytheon Technologies Corporation
• Safran
• Booz Allen Hamilton Inc.
• Garmin Ltd.
• Northrop Grumman Corporation
• Saab Ab
• Telespazio S.p.A.
• Thales Group
• Amazon Web Services, Inc.
• L3Harris Technologies, Inc.

Market Dynamics:
Drivers-
The market for autonomous vehicles is expanding, which has increased demand for PNT solutions. Autonomous vehicles can navigate precisely, plan the best routes, prevent collisions, and drive safely, due to PNT technologies. To satisfy the unique needs of autonomous vehicles, major market participants are actively attempting to improve the precision, robustness, and resilience of PNT technology. The market for position, navigation, and timing (PNT) solutions has grown and developed significantly in recent years. The demand for precise positioning and navigational capabilities has increased as a result of the growing use of smartphones, wearable technology, and automotive navigation systems.

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Challenges:
Adversaries use spoofing and jamming to impede GPS/GNSS-derived position, navigation, and time solutions. While jamming happens when nearby RF waves overwhelm GPS signals and prevent the GPS receiver from operating as intended, spoofing includes manipulating a GPS receiver to provide inaccurate position calculations. Moreover, it can be expensive to develop and implement robust PNT solutions, particularly for large-scale applications or important infrastructure projects. Adoption may be constrained by high expenses, especially in areas with low financial resources.

Regional Trends:
The North America Position, Navigation, and Timing (PNT) Solution Market is expected to record a major market share in terms of revenue and is expected to grow at a high CAGR in the near future. PNT solutions are widely used in the defense industry in North America for mission-critical applications. Advanced PNT technologies are being developed and are being adopted as part of government programs to improve national security, such as GPS modernization. The adoption of precision agriculture practices in North America fuels the demand for PNT solutions for streamlining farming practices and raising crop output. PNT solutions are necessary for effective transportation, traffic management, and urban planning in developing smart cities and urban infrastructure in the Asia Pacific area.

Recent Developments:
• In June 2023, BAE Systems introduced M-Code-enabled A-PNT. Company executives said the M-Code GPS functionality in the NavGuide system improves signal strength and signal jamming and spoofing protection compared to previous Selective Availability Anti-Spoofing Module (SAASM)-enabled GPS A-PNT systems.
• In April 2023, Safran-owned Orolia collaborated with Xona Space Systems to include the LEO constellation and navigation signals into its Skydel-powered testing and simulation solutions. High-performance positioning, navigation, and timing are provided by PULSAR, a PNT service being developed by Xona Space Systems that makes use of a commercial constellation of LEO satellites.

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Segmentation of Position, Navigation, and Timing (PNT) Solution Market-
By Application-
• Navigation
• Positioning
• Precision Timing
• Geo-Location
By Component
• Satellite
o Hardware
 Atomic Clocks
 Transponders
 Antenna
 Sensors
 Power Amplifiers
 Receivers
 Others
o Software
• Ground
o Antenna
o Land-Based Transmitter
o Receivers
o Power Units
o Sensors
o Ground-Based Atomic Clocks
o Others
By Type-
• Precise Point Positioning (PPP)
• Real-time Kinematic (RTK)
• PPP-RTK
• WARTK
By End-User-
• Defense
o Land
o Airborne
o Naval
• Commercial
o Transport and Logistics
o Aviation
o Agriculture
o Marine
o Surveying and Mobile Mapping
o Others
• Government and Civil
o Critical Government Infrastructure
o Traffic Management
o Rail Control and Management
o Disaster Management
o Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.