PUBLISHER: The Business Research Company | PRODUCT CODE: 1694960
PUBLISHER: The Business Research Company | PRODUCT CODE: 1694960
Satellite position, navigation, and timing (PNT) technology refers to a range of systems and technologies that utilize satellite signals to determine position, navigate routes, and synchronize time across various applications. These technologies are integral to modern navigation, communication, and timing systems, providing precise and reliable location and time information.
The main types of satellite position, navigation, and timing (PNT) technology are hardware and software. Hardware in the context of satellite position, navigation, and timing (PNT) technology refers to the physical components and devices used to receive, process, and utilize satellite signals for navigation, positioning, and timing purposes. They are used in navigation, positioning, precision timing, and geo-location applications by defense, commercial, and government and civil end users.
The main types of satellite position, navigation, and timing (PNT) technology are hardware and software. Hardware in the context of satellite position, navigation, and timing (PNT) technology refers to the physical components and devices used to receive, process, and utilize satellite signals for navigation, positioning, and timing purposes. They are used in navigation, positioning, precision timing, and geo-location applications by defense, commercial, and government and civil end users.
The satellite position, navigation, and timing (PNT) technology market size has grown exponentially in recent years. It will grow from $2.45 billion in 2024 to $2.97 billion in 2025 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to increased demand for accurate navigation and positioning services, expansion of the automotive industry, rising adoption of unmanned aerial vehicles, rising demand for PNT solutions, increased commercial applications.
The satellite position, navigation, and timing (PNT) technology market size is expected to see rapid growth in the next few years. It will grow to $5.82 billion in 2029 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to growing reliance on satellite-based systems, rising demand for location-based services, growing use of satellite-based navigation in maritime and aviation sectors, increasing investments in the development of next-generation satellite. Major trends in the forecast period include development of next-generation satellite, integration of technologies, integration of multiple GNSS systems, expansion of maritime PNT solutions, advancements in PNT signal processing.
The growing demand in the automotive sector is expected to propel the growth of the satellite positioning, navigation, and timing (PNT) technology market going forward. The demand for the automotive sector is increasing due to several factors, including rising population and urbanization, increasing disposable incomes, changing consumer lifestyles, and technological advancements. Satellite PNT technology provides accurate location information, enabling advanced navigation systems in vehicles. This helps drivers choose the best routes, avoid traffic congestion, and reach their destinations efficiently. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group of the automobile industry, in 2022, global motor vehicle production reached 85.4 million units, indicating a 5.7% rise from 2021. Therefore, the growing demand in the automotive sector is driving satellite positioning, navigation, and timing (PNT) technology market.
Major companies operating in the satellite position, navigation, and timing (PNT) technology market are developing innovative technologies such as precise timing device. A precise timing device is a device that provides accurate and reliable timekeeping. These devices are used in various applications, including scientific research, telecommunications, transportation, and sports. For instance, in November 2023, Adtran Inc. a US-based fiber networking and telecommunications company launched OSA 5405-S PTP grandmaster clock that features satellite time and location (STL) technology. The OSA 5405-S PTP grandmaster clock is a precise timing device used in network synchronization, specifically for the implementation of precision time protocol (PTP) in packet-based networks. This device allows for reception of STL signals alongside traditional Global Navigation Satellite System (GNSS) signals, addressing vulnerabilities related to traditional synchronization sources and enhancing reliability and security.
In May 2023, Viasat Inc., a US-based communications company, acquired Inmarsat for an undisclosed amount. The acquisition is expected to strengthen Viasat's scale and scope to continue to drive growth in the satellite communications industry. The acquisition is expected to increase the pace and scope of innovation in global satellite connectivity, offering new and improved capabilities to customers that will address the ever-increasing speed, flexibility, reliability, coverage, and security they demand. Inmarsat is a UK-based telecommunications company that is involved in developing and providing PNT technologies, including satellite navigation signals and positioning services.
Major companies operating in the satellite position, navigation, and timing (PNT) technology market are Raytheon Technologies Corporation, Honeywell International Inc, Broadcom Inc, Thales Group, L3Harris Technologies Inc, STMicroelectronics N.V., Analog Devices Inc., Qualcomm Technologies Inc., Rockwell Collins, Lockheed Martin Corporation, Skyworks Solutions Inc, Garmin Ltd, Trimble Inc, Viasat Inc., SES S.A., Maxar Technologies Inc., Topcon Corporation, Iridium Communications Inc, BeiDou Navigation Satellite System, Leica Geosystems AG, u-blox AG, Spirent Communications plc, NovAtel Inc., Globalstar Inc., Swift Navigation Inc., Septentrio NV, ComNav Technology Ltd, Hemisphere GNSS Inc
North America was the largest region in the satellite position, navigation, and timing (PNT) technology market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite position, navigation, and timing (PNT) technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the satellite position, navigation, and timing (PNT) technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The satellite position, navigation, and timing (PNT) technology market consists of revenues earned by entities by providing services such as navigation satellite systems (GNSS) services, timing and synchronization services, positioning and location-based service, mapping and surveying Services. The market value includes the value of related goods sold by the service provider or included within the service offering. The satellite position, navigation, and timing (PNT) technology market also include sales of satellite navigation devices such as smartphones and tablets, in-car navigation systems, handheld GPS devices, wearable GPS trackers, precision timing devices, PNT software and application. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Satellite Position, Navigation, And Timing (PNT) Technology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on satellite position, navigation, and timing (pnt) technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for satellite position, navigation, and timing (pnt) technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The satellite position, navigation, and timing (pnt) technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.