New York, United States , Sept. 05, 2023 (GLOBE NEWSWIRE) -- The Global Assured PNT Market Size is To Grow from USD 0.4 Billion in 2022 to USD 3.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 24.2% during the projected period. The evolving need for advanced PNT technologies to support upcoming military platforms and weapon technologies is expected to drive demand for APNT systems. Simultaneously, the lack of a regulatory framework and well-defined operational parameters will stymie market Growth.
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The global Assured Positioning, Navigation, and Timing (PNT) market is a rapidly growing industry made up of technologies and solutions aimed at providing reliable and accurate positioning, navigation, and timing information across a wide range of industries and applications. Assured PNT is the assurance that critical systems, services, and operations that rely on accurate PNT data will continue to function normally and without interruption. The Assured PNT market serves the defense and military, aviation, maritime, transportation, telecommunications, energy, and critical infrastructure sectors. The defense industry contributes significantly to the Assured PNT market. Military operations rely heavily on accurate and reliable PNT data for a wide range of critical applications. Demand for Assured PNT in the defense sector is driven by the need to maintain military superiority, improve operational efficiency, and ensure mission success. As military forces continue to rely on advanced technologies in the face of evolving threats, Assured PNT solution adoption will rise, propelling the global Assured PNT market. However, geopolitical factors and international conflicts can have an impact on the availability and accessibility of assured PNT services.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on, "Global Assured PNT Market Size, Share, and COVID-19 Impact Analysis, By Platform (Fighter Aircraft, Military Helicopters, Unmanned Vehicles, Combat Vehicles, Soldiers, Submarines, Corvettes, Destroyers, and Frigates), By End User (Defense, Homeland Security), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The fighter aircraft segment is expected to grow at the fastest pace in the global assured PNT market during the forecast period.
The global assured PNT market is divided into fighter aircraft, military helicopters, unmanned vehicles, combat vehicles, soldiers, submarines, corvettes, destroyers, and frigates. Among these, the fighter aircraft sector is predicted to develop at the highest rate in the global assured PNT market throughout the forecast period. Fighter aircraft must have PNT capabilities in order to ensure precise navigation, targeting, and weapon delivery.
The defense segment is expected to grow at the highest CAGR in the global assured PNT market over the study period.
The global assured PNT market is segmented by end user into defense and homeland security. Defense is projected to expand at the fastest CAGR in the global assured PNT market during the study period. Increased R&D and spending on precision positioning, navigation, and timing systems are driving segmental growth.
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North America is anticipated to hold the largest share of the global assured PNT market over the predicted timeframe.
North America is expected to have the greatest percentage of the global assured PNT market in the coming years. The United States, as a major contributor to the global defense industry, invests heavily in Assured PNT for military applications. Furthermore, key industry players' presence, government initiatives, and R&D activities all contribute to the growth of the North American Assured PNT market.
Asia Pacific is anticipated to expand at the fastest rate in the global assured PNT market throughout the forecast period. Rapid economic growth in the region, increased infrastructure development, and increased awareness of PNT vulnerabilities all contribute to increased demand for Assured PNT technologies.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Assured PNT Market include Bae Systems PLC, L3Harris Technologies, Inc., Northrop Grumman, General Dynamics Corporation, Leonardo DRS, Honeywell International, Raytheon Technologies, and Others.
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Recent Developments
In February 2023, The PNT-6200 Series Assured Reference for resilient Positioning, Navigation, and Timing (PNT) was introduced by Viavi Solutions Inc. It ensures the highest level of resilience for critical infrastructure that is dependent on positioning and timing. This compact system can supplement or even replace GPS signals by connecting to the market's broadest range of timing sources, including Low Earth Orbit (LEO), GNSS, commercial satellites, terrestrial, wireline, and atomic clock services.
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