The global navigation satellite system (GNSS) market size is expected to reach USD 386.78 billion by 2027, exhibiting a CAGR of 12.83% during the forecast period. The progression in smartphone technologies and digitalization can be vital factors augmenting the growth of the global market during the forecast period, states Fortune Business Insights in a report, titled “Global Navigation Satellite System Market Size, Share & Industry Analysis, By Type (Global Constellations, Regional Constellations, Satellite-Based Augmentations), By Application (Rail, Road, Aviation, Maritime, LBS, Time Synch, Agriculture, Surveying and Others), and Regional Forecast, 2020-2027” the market size stood at 161.27 billion in 2019.

The coronavirus catastrophe has caused the world’s economy to tumble down. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

Get Sample PDF Brochure Please Visit:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/global-navigation-satellite-system-gnss-market-103433

Russia-Ukraine War Implication

The Russia-Ukraine war could change the Natural Fragrance Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Natural Fragrance Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.

Market Driver:

Wide-ranging Commercial Applications of GNSS to Propel Growth

The growing adoption of GNSS in precision agriculture for enhanced agriculture production, better crop yield, and low emission effect will have a tremendous impact on the global market during the forecast period. The utilization of GPS in GNSS in several sectors such as maritime, military, geometrics, railways, and aviation will further incite the development of the industry in the foreseeable future. The growing cognizance about GNSS in agriculture and farming owing to its benefits such as assistance with optimal path and digital displays for reducing risks of overlapping will create lucrative opportunities. Moreover, the utilization of GNSS in automatic steering and biomass monitoring, soil condition monitoring, forest management, virtual fencing, and livestock tracking will fuel its demand in agriculture. Furthermore, the increasing application of GNSS in aircraftperformance-based navigation for safety, efficiency, and reliabl operation will further enable speedy expansion of the market in the forthcoming years. In addition, the increasing implementation of 5G, IoT, artificial intelligence (AI) and industrial automation will enhance the growth of the market. Likewise, the high adoption of consumer electronic devices will accelerate the demand of GNSS in the foreseeable future.

Quick Buy – Navigation Satellite System Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/103433

Regional Analysis:

Presence of Major OEMs to Aid Expansion in Europe

The market in North America is expected to witness a high growth rate during the forecast period owing to the increasing adoption of the driver advisory system (DAS) in rail applications to optimize traffic flow, less energy, and low cost. The growing implementation of (PTC)positive train control in the US will promote the healthy growth of the market in the forthcoming years. Europe is expected to grow rapidly during the forecast period. The growth in the region is attributed to the presence of major components manufacturers in the region. The increasing adoption of GNSS in the road, Surveying, and maritime applications will further enhance the development of the market in Europe. The market in Asia Pacific is predicted to flourish during the forecast period owing to the growing demand for electronic devices, smartphones, and positioning devices. The growing focus towards robust navigation satellites by India will propel the market in Asia Pacific.

Key Development:

 October 2019: Texas Instruments, U.S. based company registered a patent for the GNSS signal tracking receiver. A GNSS receiver is developed to track low power GNSS satellite signals, which includes a frequency locked loop (FLL) to measures a current doppler frequency of the satellite signal.

The Report Lists the Key Companies in the Navigation Satellite System Market:

  • Qualcomm Inc. (The U.S.)
  • Texas Instrument (The U.S.)
  • Trimble Inc. (The U.S.)
  • Rockwell Collins (The U.S.)
  • Broadcom Inc. (The U.S.)
  • Hexagon (Sweden)
  • Furuno Electric (Japan)
  • Laird Plc. (The UK)
  • Cobham Plc. (The UK)
  • Harris Corporation (The U.S.)
  • Topcon Corporation (Japan)
  • Other Players

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

LinkedIn Facebook Twitter

By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.