The assured PNT market is projected to grow from USD 0.4 billion in 2022 to USD 1.7 billion by 2027, at a CAGR of 29.8% from 2022 to 2027. the availability of low-cost military navigation components and ongoing military modernization programs in various countries across the globe are further driving the market growth. However, the operational complexity involved in assembling and maintaining military systems is a key restraint to market growth. The assured PNT market is expected to grow in the next few years due to the advent of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and 5G. The following section discusses the drivers, opportunities, restraints, and challenges and the impact of these parameters on the market. It also provides detailed information about the ecosystem related to the assured PNT market.
Based on the platform, the assured PNT market has been segmented into air, land, and naval. Tactical-grade marine military navigation used in naval ships displays the route or map during combat. Defense naval vessels are specifically designed and used by coastguards and naval forces. Defense vessels differ from commercial ships in their applications, design, construction method, and technologies. Defense ships are classified into two types, namely, surface naval ships and underwater naval ships. The naval segment covers the submarines, destroyers, frigates, and corvettes market. The naval segment is projected to grow with the highest CAGR due to rising demand and increasing procurement of naval fleets by the US and China.
The assured PNT market is segmented into defense and homeland security based on the end user. The defense segment is expected to lead the market during the forecast period due to the growing demand for border surveillance and situational awareness among defense forces and their increased use of UAVs. Assured PNT systems help countries to gain an advantage in GPS/GNSS contested areas to mitigate the risks associated with spoofing and jamming and enable them to identify a precise location.
North America is expected to account for the largest share in 2021
The assured PNT market has been studied for five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. While studying the market, the usage and lifecycle phases of assured PNT systems have been considered across different regions. North America is witnessing increased investments in developing and deploying new and advanced navigation systems to achieve improved interoperability between various units and platforms of defense forces. This region can be considered a maturing market for assured PNT as developments here focus on existing infrastructure advancements.
The break-up of the profile of primary participants in the airborne ISR market:
- By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
- By Designation: C Level – 75%, Manager Level -25%
- By Region: North America – 20%, Europe – 25%, Asia Pacific – 30%, Middle East – 10%, and Rest of the world – 15%
The report segments the assured PNT market based on platform, component, end-user, and Region. The assured PNT market is segmented into air, land, and naval platforms. The assured PNT is segmented into defense and homeland security based on the end user. By component, the market is segmented into atomic clocks, antennas, transponders, sensors, power amplifiers, receivers, and others. The assured PNT market has been studied in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The scope of the study includes thorough information on the important aspects impacting the growth of the assured PNT market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, as well as key strategies such as contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, and recent developments in the assured PNT market. This research includes a competitive analysis of upcoming startups in the assured PNT market ecosystem.
Reasons To buy this report:
The research will provide industry leaders and potential entrants with information on the closest estimations of revenue figures for the assured PNT market. This study will assist stakeholders in better understanding the competitive environment and gaining new insights to position their businesses better and develop appropriate go-to-market strategies. The study also assists stakeholders in understanding the pulse of the industry and offers data on major market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: The leading companies provide comprehensive information about assured PNT.
- Product Development/Innovation: In-depth information on future technologies, R&D efforts, and new product and service launches in the assured PNT market.
- Market Development: In-depth information on profitable markets - the study examines the assured PNT market in several areas.
- Market Diversification: Comprehensive data on new goods and services, new geographies, current advancements, and investments in the assured PNT market.
- Competitive Assessment: An in-depth examination of the assured PNT industry’s major companies’ market shares, growth strategies, and service offerings is provided.