North America includes regional markets of the U.S. and Canada. The market for satellite position, navigation, and timing technology is expected to grow significantly in the coming years, owing to the growing LEO satellite constellations that are expected to be launched by the next decade. Moreover, the presence of major industry players such as Raytheon Technologies, Lockheed Martin, Northrop Grumman, and Garmin Ltd. within the region and programs by the government and defense sectors are paving the way to boost market opportunities.

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Analyst’s Take on the Market

According to Nilopal Ojha, Team Lead at BIS Research, “Digitalization of the global defense, commercial, government, and civil sectors has increased reliance on resilient and accurate position, navigation, and timing data for routine operations leading to substantial growth of the global PNT technology market. Moreover, the introduction of LEO satellites for PNT technology and the miniaturization of atomic clocks is expected to make the existing PNT technologies more affordable and accurate near future, propelling the growth of the global satellite position, navigation, and timing technology market during the forecast period 2021-2031.”

The primary function of PNT is to improve the performance of GNSS by providing information about the accuracy, integrity, continuity, and availability of its signals for geo-location and navigation applications.

Key Companies Operating in The Market

The companies profiled in the report have been selected following in-depth interviews with experts and understanding details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the space industry.

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Companies such as Raytheon Technologies, Northrop Grumman Corporation, Garmin Ltd., Orolia, BAE Systems, Inc., Qualcomm Technologies Ltd., Hexagon AB, WR Systems Novatel Inc., Telespazio, Booz Allen Hamilton, Infinidome, Bynav Technology, Atlas Elektronik, among others.

About BIS Research:

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Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

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