The satellite navigation system market size is expected to see strong growth in the next few years. It will grow to $224.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rise in demand for unmanned aerial vehicles (UAVs) and drones, increasing use of satellite navigation in agriculture and precision farming, deployment of satellite navigation for disaster management and emergency response, expansion of satellite navigation. Major trends in the forecast period include rise in demand for real-time and high-precision positioning, growth of hybrid navigation systems combining satellite and terrestrial technologies, integration of satellite navigation with artificial intelligence (AI) and machine learning (ML) algorithms, expansion of satellite navigation services.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/satellite-navigation-system-global-market-report
Segmentation & Regional Insights
The satellite navigation system market covered in this report is segmented –
1) By Solution: System, Services
2) By Constellation: Global Navigation, Regional Navigation, Augmented
3) By Orbit: Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Other Orbits
4) By Application: Road And Automotive, Consumer And Health Solutions, Other Applications
Asia-Pacific was the largest region in the satellite navigation system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite navigation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=14183&type=smp
Major Driver Impacting Market Growth
The growing popularity of autonomous vehicles is expected to propel the growth of the satellite navigation system market going forward. An autonomous vehicle is a type of vehicle equipped with sensors and technology that enable it to perceive its surroundings and navigate without human intervention. Autonomous vehicles commonly utilize satellite navigation systems to determine their precise location, navigate to their destinations, and navigate safely and efficiently by providing precise positioning information. For instance, in August 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization for road safety, there will be 3.5 million self-driving automobiles on American highways by 2025 and 4.5 million by 2030. Therefore, the growing popularity of autonomous vehicles is driving the growth of the satellite navigation system market.
Key Industry Players
Major companies operating in the satellite navigation system market are Furuno Electric Co. Ltd., RTX Corporation, Lockheed Martin Corporation, Stonex Srl, Airbus SE, QualComm Technologies Inc., General Dynamics Corp, Northrop Grumman Corporation, Honeywell International Inc., Broadcom Inc., Safran SA, Texas Instruments Inc., Thales Group, L3Harris Technologies Inc., STMicroelectronics, Teledyne Technologies Inc., Hexagon AB, Trimble Inc., Kongsberg Gruppen, Cobham Plc., Topcon Corporation, u-blox, TomTom International BV, Laird Plc. (Advent International), Surrey Satellite Technology Ltd., Swift Navigation, Septentrio, SkyTraq Technology Inc., ComNav Technology Ltd., Magellan Systems Japan Inc.
The satellite navigation system market report table of contents includes:
1. Executive Summary
2. Satellite Navigation System Market Characteristics
3. Satellite Navigation System Market Trends And Strategies
4. Satellite Navigation System Market – Macro Economic Scenario
5. Global Satellite Navigation System Market Size and Growth
………………………..
31. Satellite Navigation System Market Other Major And Innovative Companies
32. Global Satellite Navigation System Market Competitive Benchmarking
33. Global Satellite Navigation System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Satellite Navigation System Market
35. Satellite Navigation System Market Future Outlook and Potential Analysis
Explore the trending research reports from TBRC:
https://goodprnews.com/human-microchipping-global-market-size/
https://goodprnews.com/medical-biomimetics-global-market-size/
https://goodprnews.com/online-travel-booking-platform-global-market-size/
https://topprnews.com/human-microchipping-global-market-share/
https://topprnews.com/medical-biomimetics-global-market-share/
https://topprnews.com/online-travel-booking-platform-global-market-share/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
The warmer display cases global market report 2024 from The Business Research Company provides comprehensive…
The veterinary renal disease global market report 2024from The Business Research Company provides comprehensive market…
The spring loaded industrial cable reels global market report 2024 from The Business Research Company…
The secure data destruction global market report 2024 from The Business Research Company provides comprehensive…
The qr code payments global market report 2024 from The Business Research Company provides comprehensive…
The plastic additives global market report 2024 from The Business Research Company provides comprehensive market…