Assured Positioning, Navigation, and Timing Market Size
Assured Positioning, Navigation, and Timing Market size was worth more than USD 800 million in 2022 and is expected to show more than 25% CAGR from 2023 to 2032.
Terrorist attacks have been increasing worldwide, with assaults moving from state borders to busy public areas in cities like airports and eateries. The security forces are employing intelligent weapons with sophisticated military navigation to minimize collateral damage and offer higher accuracy and lower Circular Error Probability (CEP) to eliminate terrorists. The presence of low-cost military navigation components and continuous military modernization programs in different nations worldwide are also propelling market growth.
In the intense game of modern warfare, precise navigation and positioning are critical to the accomplishment of airborne, ground, and maritime forces. PNT systems are responsible for ensuring militaries navigate, find themselves, and remain alive in combat. With the pressure to minimize casualties and enhance advanced navigation technologies on the rise, the demand for dependable PNT systems is increasing. Nation-states across the globe are investing heavily in updating their militaries and countering the increasing popularity of asymmetric warfare. These developments are driving the market for assured PNT, with a rise in demand for solutions that are able to navigate missiles and other weapon systems with very high precision.
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Assured PNT (Positioning, Navigation, and Timing) Market Report Attributes
Report Attribute Details
Base Year 2022
Assured PNT (Positioning, Navigation, and Timing) Market Size in 2022 USD 800 million
Forecast Period2023 to 2032
Forecast Period 2023 to 2032 CAGR25%
2032 Value ProjectionUSD 8 Billion
Historical Data for2018 to 2022
No. of Pages250
Tables, Charts & Figures275
Segments coveredPlatform, Component, End-use, and Region
Growth Drivers
Rise in demand for assured information in use cases like emergency services, military, and aerospace
Increased adoption of UAV and autonomous cars
Investments by the government and policies towards Assured PNT market
Employment of advanced technologies to enhance security
Increase in commercial application of PNT
Pitfalls & Challenges
High training and development expense
Absence of good regulations and standard
Think of a system that can locate the position and place of an object with the help of sensors known as gyroscopes and accelerometers. Previously, these sensors were complex and costly to produce. But now, due to Micro-Electro-Mechanical Systems (MEMS), they are being miniaturized, simplified, and made cheaper. With these low-cost components, the price of inertial navigation systems is declining. And the more these systems are available, the more likely they are to propel the development of the market for positioning, navigation, and timing systems.
COVID-19 Impact
The pandemic of COVID-19 had a negative effect on the assured PNT market. The demand by the military was affected significantly, as there was a negative effect on the supply chain all over the globe during the height of the pandemic.
Procurement of counter systems for airports and other essential infrastructure were also impacted.
Assured PNT (Positioning, Navigation, and Timing) Market Analysis
The surge in sales of these solutions in defense, government, and manufacturing is propelling the growth of this market in this region. It’s all due to the increasing application of high-tech navigation systems on aircraft, ships, drones, and other platforms, which require dependable positioning, navigation, and timing (PNT) to operate effectively. This market is also benefiting from significant investments in defense by the US government and the spread of advanced GPS technology in the region. Increasing demand for drones and aircraft is another major factor behind the expansion of military navigation solutions in this market. The fact that businesses here have big manufacturing plants and can make lots of products is also contributing to the growth of the market.
Picture a world where you can always know precisely where you are, how to get where you’re headed, and what time it is. That’s the promise of guaranteed PNT (positioning, navigation, and timing). To construct these PNT systems, we require some essential pieces. Just as in a symphony, each piece has a particular functionAtomic clocks maintain time with astounding precision. Antennas link our devices to satellites. Transponders transmit and receive signals to locate. Sensors gather information around us. Power amplifiers amplify signals so they can go further. Receivers detect signals and demodulate them. Out of all these parts, sensors are the eyes and ears of PNT. They can feel anything from weather to motion. And due to their significance in the above applications, the sensor part of the PNT market will increase exponentially in the coming decade. So, why is this increasing so rapidly? Well, sensors are critical in functions such asMaintaining communication systems in an operational state. Providing stability in the power grid. Guiding air traffic safely. Synchronizing financial transactions correctly. And in the military, sensors are absolutely essential to things such as accurate navigation and merging data from multiple sources. So, as we increasingly depend on PNT systems in our everyday lives and military actions, the need for sensors will keep on growing. It’s like a conductor waving the baton, bringing all the pieces together to make a symphony of accurate and dependable positioning, navigation, and timing.
On the basis of platform, the guaranteed PNT market is segmented into air, land, and naval. The air segment represented more than USD 300 million in 2022 due to the rising need for monitoring operations. Growth in defense expenditures of military giants like the U.S., China, and Russia is likely to propel the demand for upgrading aircraft with digital navigation systems. These systems offer robust capabilities and precise positioning. The ever-increasing demand for these systems in military uses is estimated to drive the air segment revenue.
Discover more about the dominant segments driving this market
Depending on end use, the ensured PNT (positioning, navigation, and timing) market is divided into defense and homeland security. The defense segment captured 50% of the market share in 2022 and is expected to witness approximately 26% CAGR from 2023 to 2032. The defense segment is expected to dominate the market because of technological advancements in achieving mission-critical information. It is influenced by the growth in R&D and higher investments in precision positioning, navigation, and timing systems. The increasing need for security products & services in industries like border security is expected to drive market growth.
North America led the global assured Positioning, Navigation, and Timing market with more than 35% market share in 2022. The region is experiencing higher investments in developing & deploying advanced navigation systems to enhance interoperability among various military platforms. Since regional growth is focused on enhancing the existing infrastructure, North America would be a mature market for guaranteed PNT. Government organizations across the globe are buying cutting-edge military navigation technology, and as a consequence, global market growth is very fast. Companies are spending a lot on R&D activities because the market is highly competitive and requires innovative solutions.
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Assured Positioning, Navigation, and Timing Market Share
Some major players operating in the assured PNT (Positioning, Navigation, and Timing) market includes
- Bae Systems PLC
- L3Harris Technologies, Inc.
- Northrop Grumman
- General Dynamics Corporation
- Leonardo DRS
- Honeywell International
- Raytheon Technologies
These players focus on strategic partnerships and new platform launches & commercialization for market expansion. They are heavily investing in the R&D of innovative platforms and garnering maximum revenue in the market.
