Assured PNT Market Set to Reach USD 1.7 Billion by 2027

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Navigating the Future Assured PNT Market Set to
Reach USD 1.7 Billion by 2027
The report "Assured PNT Market by Platform
(Fighter Aircraft, Military helicopters,
unmanned Vehicles, Combat Vehicles, Soldiers,
Submarines, Corvettes, Destroyers, and
Frigates), End User (Defense, Homeland Security),
Component and Region - Global forecast to
2027" The assured PNT market has been segmented
by component, platform, end user, and region.
The global market is projected to grow from an
estimated USD 0.4 billion in 2022 to USD
1.7 billion by 2027, at a CAGR of 29.8 during
the forecast period. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id86182758 The increasing focus on
enhancing advanced navigating capabilities for
the reduction of casualties, the rising need for
modernization programs, and increasing incidences
of asymmetric warfare are major factors driving
the assured PNT market. Countries across the
world are investing in the development of missile
systems, such as ballistic missiles and cruise
missiles, which require assured positioning
systems for guidance. Thus, the increasing
implementation of assured PNT systems in missiles
is contributing to the growth of the assured PNT
market. Militaries are using smart weapons with
advanced tactical-grade military navigation for
greater accuracy and lower circular error
probability (CEP) to neutralize terrorists and
reduce collateral damage. Based on the end user,
the assured PNT market is segmented into defense
and homeland security. The defense segments is
the largest growing segment during the forecasted
period owing to increasing defense budgets and
spending on advanced digital navigation
capabilities by several countries. Most of the
countries are modernizing their land vehicles
(Tier 2 and Tier 3) replacing the existing fleet
with advanced capabilities. this in turn is also
driving the growth of defense segment in the
assured PNT market. The assured PNT is segmented
into land, air and naval based on platform. The
naval platform is forecasted as the fastest
growing segment during 2022-2027. The increasing
efforts by countries such as US, China and India
to develop advanced submarines is one of the
driving factors of the segments growth. For
instance, In 2019 US has given an order to
develop a total of 10 submarines with advanced
nuclear capabilities for USD 24 billion. The
increasing investments by china in RD
2
activities related to submarines have also led to
a higher number of diesel and nuclear powered
vessels. thus rising the demand for submarines is
projected to boost the growth of advanced
navigation systems that resist jamming and
spoofing threats. The assured PNT regional
analysis has been studied over North America,
Europe, Asia Pacific, Middle East Africa, and
Latin America. North America accounted for the
largest share of the assured PNT market in 2021.
This market is led by the US, which is
increasingly investing in assured GPS technology
to maintain its superiority and overcome the risk
of potential threats of spoofing and jamming. In
the defense sector, rapid technological
advancements are spawning disruptive
innovations. Key Market Players The key market
players in the assured PNT market are Bae Systems
PLC (UK), General Dynamics (US), L3Harris
Technologies (US), Northrop Grumman (US),
Teledyne Technologies, Inc. (US), Leonardo DRS
(US), Lockheed Martin Corporation (US), and
Raytheon Technologies (US). Inquiry Before Buying
_at_ https//www.marketsandmarkets.com/Enquiry_Before
_BuyingNew.asp?id861827 58 About
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