Market Highlights

In its research report, Market Research Future (MRFR), emphasizes that the global market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation and a healthy CAGR over the review period.

Drivers and Restraints

A constellation of several medium east orbit satellites acquires worldwide coverage of the satellite navigation network. With the growing launch of these satellites, numerous players are joining the global market for system navigation satellites, leading to an expansion of the global market for system navigation satellites globally. Extensive use of smartphone navigation systems and increased focus on accurate positioning, navigation, and timing solutions for commercial, industrial, government, and military applications are driving the global satellite navigation system market. The added features that provide real-time information about driving directions, traffic conditions and ETA induce high demand for navigation systems, which in turn propel the growth of the global satellite system navigation market. Nonetheless, cyber threats caused by easy system accessibility, and difficulties facing the management and storage of unstructured data during the forecast period are likely to pose obstacles in the growth of the global satellite system market.

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Segmentation:

By application, the market is segmented into agriculture, location-based services, aviation, maritime, road, rail, surveying, and time & synchronization. Location-based services are further segmented into digital cameras, smartphones, tablets, portable computer, personal tracking devices, sport & wearable’s, search & rescue (PLB). Maritime is further segmented into search & rescue (plb), search & rescue (epirb), traffic management, homeland security, inland water transport (iww) navigation, merchant navigation, ports, traffic management, recreational navigation, marine engineering and fishing vessels. Surveying is further segmented into construction - machine control, cadastral, construction - person based mapping, mining and marine surveying. Timing & synchronization is further segmented into energy, telecommunication, and finance.

By technology, the market is bifrucated into global constellations and satellite-based augmentation systems (SBAS). Global constellations is segmented into GLONASS, GPS, Galileo and BeiDou. Satellite-based augmentation systems is segmented into WAAS (North America), EGNOS (Europe), GAGAN (India) and MSAS (Japan).

Regional Analysis

The geographical overview of the global market has been analyzed in four major regions, comprising North America, the Asia Pacific, Europe, and the rest of the world.

In the forecast period North America is expected to dominate the navigation market for satellite systems. Satellite navigation system market in the North American region is dominated by the US, Canada, and Mexico. This market is growing very rapidly in the United States as they have their own GNSS (global navigation satellite system) called NAVSTAR GPS. The global navigation satellite system market in the Europe region is driven largely by the high demand for accurate navigation systems for maritime surveillance, transportation, and in the military and defense sector in this area. Due to the presence of major telecom industries, the Asia-Pacific market for satellite navigation systems is also expected to expand at a faster pace during the forecast period. Consumer electronics such as mobile phones which increase the reach of navigation systems applications in the Asia-Pacific region. India's PSLV recently launched 31 single-flight satellites of which 2 are from other countries. Due to the growing penetration of smartphones, increased demand for real-time navigation solutions and the integration of GNSS in agriculture, aviation and other sectors, the Asia Pacific region is projecting substantial growth in the global navigation satellite system market in the region.

Competitive Analysis

The major market players operating in the global market as identified by MRFR are Qualcomm Technologies International Ltd. (US), AgJunction, Inc. (US), Garmin Ltd. (Switzerland), Hexagon (Sweden), Furuno Electric Co Ltd. (Japan), Raytheon Company (US), Trimble Navigation Ltd. (US), Topcon Corporation (Japan), Rockwell Collins (US), and TomTom NV (Netherlands) among others.

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Global Navigation Satellite System (GNSS) Market, By Application (Agriculture, Aviation, Location-Based Services, Maritime, Time & Synchronization), By Technology (Global Constellations, Satellite-Based Augmentation Systems (SBAS)— Forecast till 2027

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