Assured PNT (Positioning, Navigation, and Timing) Market Size

Assured Positioning, Navigation, and Timing Market Size

Assured Positioning, Navigation, and Timing Market size valued at over USD 800 million in 2022 and is poised to exhibit over 25% CAGR between 2023 and 2032. Terrorist activities have been on the rise globally, with attacks shifting from country borders to crowded public places in cities such as airports and restaurants. The security agencies are using smart weapons with advanced military navigation to reduce collateral damage and provide greater accuracy and lower Circular Error Probability (CEP) to neutralize terrorists. The availability of low-cost military navigation components and ongoing military modernization programs in various countries across the globe are further driving market growth.

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Assured PNT systems play an important role in precise modern military warfare by improving the navigation, positioning, and survivability functions of airborne, land, and naval platforms. The growing emphasis on improving advanced navigation capabilities to reduce casualties, the rising need for modernization programs, and the increasing occurrences of asymmetric warfare will propel the assured PNT (positioning, navigation, and timing) market growth. Countries worldwide are investing in the development of missile systems, such as ballistic missiles and cruise missiles, which rely on precise positioning systems for guidance, increasing the use of assured PNT systems in missiles, thereby contributing to business growth.

Assured PNT tracks an object's position and location relative to its starting point using gyroscopes and accelerometers. Previously, gyroscopes and accelerometers used in inertial navigation systems required specialized fabrication and assembly. The cost of these components was significantly higher due to the complexity involved in their fabrication & assembly. Micro-Electro-Mechanical Systems (MEMS); for example, use improved fabrication & assembly techniques, reducing component size and design complexity. Various component manufacturers are attempting to reduce component costs to reduce the overall cost of inertial navigation systems. As a result, the availability of miniaturized components at reasonable prices is expected to propel the assured PNT (positioning, navigation, and timing) market growth.