The global navigation satellite system market is anticipated to grow at a significant CAGR during the forecast period. The major factors for the growth of the market are the increasing need for disaster alertness, increasing natural calamities, and many others. All these factors combined will fuel the growth of the market during the forecast period.
The navigation satellite system is used for identifying the geographical location. The whole system is based on the principle of positioning, navigation, and timing. The navigation satellite system is used in many countries such as Europe’s Galileo Satellite, the US’s NAVSTAR global positioning system satellite, Russia’s GLONASS satellite, and China’s BeiDou Navigation Satellite System. Due to this increased use, the market is expected to grow. During the COVID 19 pandemic GNSS played a major role in tracking people who are affected by the virus and later on isolating them.
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GNSS had been used to identify the affected part of the home and hospital spaces across the globe. Recently, GNSS is also used in the aircraft industry as an Emergency Locator Transmitter (ELT) which plays an important role in rescue and surveillance operations. This technology is also used in agricultural areas to provide better products and yield benefits to the farmers. The use of electronic gadgets such as smartphones has created an opportunity for the market across the globe as the user will be checking the position, navigation, and timing on their phone for public transports, food delivery systems, and many others. All these factors combined will fuel the growth of the market during the forecast period. Some of the key global players in the navigation satellite system market include Qualcomm Technologies International Ltd., Aglunction, Inc., Hexagon, Topcon Corporation, Rockwell Collins, among others.
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Market Coverage
- Segment Covered-
o By Application
o By Type
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape – Qualcomm Technologies International Ltd., Aglunction, Inc., Hexagon, Topcon Corporation, Rockwell Collins, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Navigation Satellite System Market by Segments
o By Application
- Agriculture
- Defense
- Government
- Commercial
- Railways
- Aviation
o By Type
- Global Constellations
- Regional Constellations
- Satellite-based Augmentation
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