Dublin, March 27, 2023 (GLOBE NEWSWIRE) -- The "Global Assured PNT Market by Platform (Fighter Aircraft, Military Helicopters, Unmanned Vehicles, Combat Vehicles, Soldiers, Submarines, Corvettes, Destroyers, Frigates), End-user (Defense, Homeland Security), Component, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global 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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 206 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $0.4 Billion |
| Forecasted Market Value (USD) by 2027 | $1.7 Billion |
| Compound Annual Growth Rate | 29.8% |
| Regions Covered | Global |
Market Dynamics
Drivers
- High Demand for Assured Global Positioning System (GPS) in Military Applications
- Increasing Demand for Accuracy in Navigation
- Availability of Miniaturized Components at Affordable Prices
- Increasing Preference for Use of UAVs in Modern Warfare
- Use of UAVs as Loitering Munition by Defense Forces
- Advent of Next-Generation Military Platforms and Weapon Technologies
Restraints
- Absence of Established Operational Parameters
Opportunities
- Ongoing R&D Programs
- Increasing Application to Mitigate Effects of Threats
- Increasing Demand for New-Generation Air and Missile Defense Systems
- Integration of Anti-Jamming Capabilities with Navigation Systems
Challenges
- Limited Development of Feasible Technologies
- High Cost of Development of Military Navigation Equipment
Case Study Analysis
- GPS Anti-Jamming Tech by Novatel and Junction Box by Forsberg Selected to Protect Royal Navy T26 Frigate
- Novatel's Anti-Jam Antenna Selected for Canadian Army Observation Post Vehicles
- Passive Anti-Jam Antenna Used to Combat Gnss Interference
Companies Mentioned
- BAE Systems PLC
- Cobham Ltd.
- Curtiss-Wright Corporation
- General Dynamics Corporation
- Hexagon AB
- Honeywell International, Inc.
- Israel Aerospace Industries
- L3Harris Technologies
- Leonardo DRS
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Orolia
- Raytheon Technologies Corporation
- Rheinmetall AG
- Spirent Communications
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/m3ua0x
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