Skip to main content

Satellite PNT Technology Market Trends, Forecast and Competitive Analysis By 2031


The satellite PNT technology providers also indulge in numerous tie-ups with international and national space agencies as well as commercial space players. For instance, the OneWeb company was selected by the U.K. in 2020 to develop its navigation satellite system following the Brexit. Moreover, in May 2021, OneWeb and U.K. Space Agency announced a collaboration to develop a new beam-hopping satellite that would allow satellites to change what area of the planet they cover owing to increasing commercial demand for responding to emergencies such as natural disasters.

Read Report Overview: https://bisresearch.com/industry-report/satellite-pnt-technology-market.html

On 3rd December 2020, many satellite PNT technology companies announced the establishment of a coalition called the Open PNT Industry Alliance. This alliance comprises prominent companies such as Iridium Communications, infiniDome, Jackson Labs Technologies, NAVSYS Corporation, NextNav, OPNT, Orolia, Qulsar, Satelles, and Seven Solutions. This newly formed coalition aims to support government endeavors to accelerate the implementation of backup positioning, navigation, and timing capabilities for critical infrastructure and encourage collaboration between the public and private sectors. Since the existing GNSS/GPS are susceptible to both service disruptions and deliberate attacks, the Open PNT Industry Alliance intends to share its expertise with governments worldwide to help establish policies, define regulations, and laws that can help achieve their national security ambitions. This coalition is also focused on establishing a self-sufficient funding structure that grants the development and adoption of multiple sources of PNT to meet the needs of various military, commercial, and government sectors.

The satellite PNT technology providers are also growing their businesses by entering strategic partnerships with smaller enterprises and start-ups for a global footprint in the satellite position, navigation, and timing technology market. The market players are also investing in emerging economies and underdeveloped countries to increase their customer base and offer digitized navigation, timing, and locating services.

The satellite PNT technology has gained significant importance over the last decade. The increase in the requirement of the resilient and secure position, navigation, location, and timing data across the globe for various defense, commercial, and civilian applications without interruption has generated the demand for a robust PNT ecosystem consisting of hi-tech antennas, receivers, and atomic clocks.  The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research along with analytical tools to predict the forecast analysis for the study period. With the help of these, the global satellite PNT technology study provides a broader perspective of the industry.

The demand for resilient and reliable satellite PNT technology provided by GNSS has increased significantly over the years owing to innovation in the defense, commercial, automobile, and transport sectors. The increasing use of smartphones and similar smart devices has also increased the scope of growth and modernization in the position, navigation, and timing technology market. At present, national security, critical government infrastructure, military operations, financial operations, and other major industries such as agriculture and mining rely on the precision satellite PNT technology to conduct their operations and will continue to depend on this technology for development in the future.

Request a Sample: https://bisresearch.com/requestsample?id=1242&type=download

Application such as squadron coordinates for military missions, precise location data for search and rescue operations, disaster monitoring, and efficiency in areas such as construction, oil and gas, and mining are dependent on satellite PNT technology. The value of these services is growing rapidly, but the position, navigation, and timing technology are susceptible to disruptions, interruptions, and manipulations which can cause socio-economic challenges. Therefore, the demand for operational efficiency of satellite PNT technology is increasing substantially.

Comments

Popular posts from this blog

Chatbots Increasing Efficiency in Healthcare Market

Chatbots are one of the prominent technologies currently being integrated into the healthcare system. The chatbots are not considered as the SaMD (software as medical device) as they do not participate in clinical decision-making process, rather, they act as the personal healthcare assistant as well as the trainer for its users. Click Here To Get Detailed Description of  Chatbots in Healthcare Market The usage of chatbots in the healthcare has gained popularity since 2013, when Babylon Health, the first healthcare chatbot company of the U.K. was launched. The company offered symptom checker chatbot and has started using the same chatbot as a health checker as well. The industry comprises the bot developers, platform providers, content providers, and the interface providers. Since there are no regulatory bodies such as FDA and MHRA directly governing the usage of chatbots, launching the chatbot is convenient for the developers. New start-ups are coming up wit...

Wireless Charging Technology – Analyzing the Market Drivers and Restraints

Wireless charging technology eliminates the use of wires to power devices and enables a device to be charged automatically when placed near a transmitter. The wireless charging technology is however, not new in the world of technology, rather, has been in existence since the late 1800s. With the incorporation of the technology in smartphones, it has been experiencing a massive boost in popularity. Request the Sample @  https://bisresearch.com/requestsample?id=645&type=download According to the latest market intelligence report by BIS Research titled “ Global Wireless Charging Market - Analysis and Forecast (2018-2023) ,” the market was valued at $2.58 billion in 2017 and is projected to grow at a CAGR of 40.97%, during the forecast period and reach $20.97 billion by 2023.  The market is estimated to witness the highest growth in the Asia-Pacific (APAC) region during the forecast period (2018-2023). The wireless charging technology is not only limited to the sm...

Analyzing the Growth and Expansion of the Neurostimulation Devices Market

The global healthcare economic burden, at present, is primarily characterized by major contributors such as chronic pain and neurological disorders. The annual societal cost for chronic pain and neurological disorders accounted for $635 billion and $789 billion respectively in the U.S., in 2014. Opioids are one of the most preferred medicines for the treatment of chronic pain, however, the side-effects associated with opioids have resulted in a decline in their overall usage and sale. Consequently, the increasing cases of neurological disorders and the need for a novel approach for the treatment of such diseases has led to the advent of neuromodulation technologies. The rapid shift of the healthcare industry toward neurostimulation devices from opioids and other conventional treatment techniques can be attributed to the efficient, safe, and targeted approach of neurostimulation devices. BIS Research recently published a market intelligence report titled “ Global Neurostim...