Market Trends of Assured PNT Industry
Defense Segment is Expected to Dominate The Market During The Forecasted Period
The defense segment is expected to lead due to technological advancements in obtaining mission-critical data. The increasing R&D and spending on precision positioning, navigation, and timing systems drive the defense segment in the assured PNT market. One of the significant applications of navigation systems is the defense industry. Navigation systems allow users to detect, locate, and characterize interference sources. Military forces use satellite navigation for ground navigation, aerial monitoring, and maritime navigation. Navigation helps military missions accurately position their units, the enemy's forces, and the locations of the enemy's facilities or installations. Accuracy, reliability, precision in positioning, and timely measurements are some of the major factors driving the growth of market adoption in the defense sector. Many companies provide a wide range of products to cater to the needs of various end-users. For instance, in June 2022, Collins Aerospace introduced NavHub-200M, the first non-ITAR vehicular navigation system for the international market compatible with Military Code (M-Code) receiver technology. NavHub-200M provides Assured Positioning, Navigation, and Timing (APNT) capabilities while improving overall resistance to existing and emerging threats to Global Positioning Systems (GPS), such as spoofing and jamming.
North America is Expected to Register the Highest CAGR During the Forecast Period
North America is projected to have the highest CAGR over the forecast period. The primary reason for North America to be the market leader can be the early adoption of technology in the region and immense investment into advanced navigation systems. Also, increased spending on various automation technologies and building a smart infrastructure throughout the region is further expected to boost market growth. Because of its emphasis on improving existing infrastructure, North America has the potential to be seen as a mature market for guaranteed PNT. Government agencies in the region are getting more effective and technologically cutting-edge military navigation systems as a result of the industry's intense competition. For Instance, In January 2023, L3Harris announced to delivery of the Navigation Technology Satellite-3 to the US Air Force and the spacecraft. NTS-3 is an Air Force Research Laboratory-funded experiment that will transmit Positioning, Navigation, and Timing (PNT) signals from Earth's geostationary orbit. The goal is to demonstrate next-generation PNT technology for the U.S. military and provide an alternative to GPS. The market expansion is also anticipated to be fuelled by the rise in demand for security products and services across sectors including border, marine, and aviation security.
