The satellite position, navigation, and timing (PNT) technology market is projected to reach $8.81 billion by 2031, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 22.45% during the period 2021-2031.
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Satellite PNT technology determines precise geographical location or position, navigates the route, and accurately tracks exact time. The position, navigation, and timing is derived from the global navigation satellite system (GNSS) onboard the communication satellite.
USP of the Report
This extensive report can help with:
• A dedicated section focusing on ongoing and upcoming PNT technology programs
• Qualitative analysis of PNT technology application and end user
• Analysis of regional and country-wise PNT technology growth scope
Analyst’s Take on the Market
According to Nilopal Ojha, Team Lead at BIS Research, “Digitalization of the global defense, commercial, government, and civil sectors has increased reliance on resilient and accurate position, navigation, and timing data for routine operations leading to substantial growth of the global PNT technology market. Moreover, the introduction of LEO satellites for PNT technology and the miniaturization of atomic clocks is expected to make the existing PNT technologies more affordable and accurate near future, propelling the growth of the global satellite position, navigation, and timing technology market during the forecast period 2021-2031.”
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Key Questions Answered in the Report
• How satellite position, navigation, and timing (PNT) technology market evolve in the coming years?
• Which end user in the satellite PNT technology market will occupy the highest share over the coming years?
• What components are required for commercial and defense satellite position, navigation, and timing (PNT) technology market application?
• What is the scope in the market for new original equipment manufacturers (OEMs) and other players that wish to enter the global satellite position, navigation, and timing (PNT) technology market?
• What are the drivers and challenges attributing to the growth of the global satellite position, navigation, and timing (PNT) technology?
• Which application and end user segment are expected to lead the global satellite position, navigation, and timing (PNT) technology by 2031?
• What was the market value of the regions in global satellite position, navigation, and timing (PNT) technology 2020, and how is the market estimated to grow during the forecast period 2021-2031?
• What are the R&D initiative and investment scenarios in the global satellite position, navigation, and timing (PNT) technology market?
• What are the key developmental strategies that are implemented by the key players to sustain the competitive market?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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