The assured positioning, navigation, and timing (pnt) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Assured Positioning, Navigation, And Timing (PNT) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The Assured Positioning, Navigation, and timing (PNT) market size has grown exponentially in recent years. It will grow from $0.81 billion in 2023 to $1.05 billion in 2024 at a compound annual growth rate (CAGR) of 30.0%. The growth in the historic period can be attributed to increasing in global demand for automotive products, high adoption of UAV and autonomous vehicles, growing use of PNT for commercial applications, growing demand in military applications, increasing demand for precise navigation solutions in civilian applications.
The Assured Positioning, Navigation, and timing (PNT) market size is expected to see exponential growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 29.2%. The growth in the forecast period can be attributed to increasing demand for security products, demand for improved infrastructure, growing adoption of integrated defense electronics technologies, rising need for modernization programs, rising use of advanced technologies to improve security. Major trends in the forecast period include integration of multiple technologies, 5G integration, augmented reality (AR) and virtual reality (VR) applications, resilience and anti-spoofing technologies, blockchain integration for secure positioning.
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Scope Of Assured Positioning, Navigation, And Timing (PNT) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Assured Positioning, Navigation, And Timing (PNT) Market Overview
Market Drivers –
The high adoption of unmanned aerial vehicles (UAVs) and autonomous vehicles is expected to propel the growth of the assured PNT market. Autonomous vehicles, referred to as self-driving or driverless vehicles, are vehicles equipped with advanced technologies that enable them to navigate, operate, and make decisions without direct human intervention. APNT systems provide precise positioning and navigation information, allowing UAVs to navigate accurately and safely, especially in complex or GPS-denied environments. For instance, according to the DefenseScoop, a US-based community-driven news source dedicated to the U.S. military’s acquisition, in 2022, the United States Department of Defense (DoD) requested over $1 billion for UAV procurement and $314 million for UAV research and development. Further, the U.S. government fiscal 2024 budget aimed to accelerate combat drone development and procurement, proposing a 3.2% boost in the DoD’s total discretionary budget authority to $842 billion. Therefore, the high adoption of unmanned aerial vehicles and autonomous vehicles is driving the growth of the assured PNT market.
Market Trends –
Major companies operating in the Assured Positioning, Navigation, and timing (PNT) market are developing innovative products such as AC2ES to sustain their position in the market. AC2ES is an advanced Assured Position, Navigation, and Timing (A-PNT) solution designed to provide A-PNT information in GPS-threatened environments, offering schedule, cost, and capability advantages. For instance, in September 2021, Leonardo DRS, a US-based arms industry company, launched AC2ES (A-PNT Converged Computing-Embedded and Scalable), which offers a flexible and scalable capability that can be tailored to meet varying requirements, and it includes vision navigation technology. It is a scalable and tailorable A-PNT solution that integrates with advanced off-the-shelf systems. It provides a cost-effective and flexible approach to A-PNT capabilities for various vehicle platforms. This innovative solution converges best-of-breed A-PNT capabilities with cyber-hardened computing, offering flexible and tailorable options for A-PNT distribution and sharing with other on-platform systems.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
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Regional Insights –
North America was the largest region in the Assured Positioning, Navigation, and timing (PNT) market in 2023. The regions covered in the Assured Positioning, Navigation, and timing (PNT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major companies operating in the Assured Positioning, Navigation, and timing (PNT) market are Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc, Collins Aerospace, Thales Group, L3Harris Technologies Inc., RTX Corporation, Leidos, Leica Geosystems AG, Hexagon AB, IAI Groups, Garmin Ltd., Curtiss-Wright Corporation, Topcon Positioning Systems, Advanced Navigation, Aevex Aerospace, Bliley Technologies Inc., Spirent Communications, KVH Industries, Inc., Swift Navigation, Septentrio N.V., SBG Systems, Tallysman Wireless Inc., Tersus GNSS Inc., Hemisphere GNSS
Table of Contents
1. Executive Summary
2. Assured Positioning, Navigation, And Timing (PNT) Market Report Structure
3. Assured Positioning, Navigation, And Timing (PNT) Market Trends And Strategies
4. Assured Positioning, Navigation, And Timing (PNT) Market – Macro Economic Scenario
5. Global Assured Positioning, Navigation, And Timing (PNT) Market Size and Growth
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32. Global Assured Positioning, Navigation, And Timing (PNT) Market Competitive Benchmarking
33. Global Assured Positioning, Navigation, And Timing (PNT) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Assured Positioning, Navigation, And Timing (PNT) Market
35. Assured Positioning, Navigation, And Timing (PNT) Market Future Outlook and Potential Analysis
36. Appendix
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