Navigation Satellite Systems Market Trend Marked Significant Growth in Industry | Global Analysis and Forecast to 2031

Rise in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services drive the growth of the global market. WILMINGTON, DE, UNITED STATES, June 27, 2025 /EINPresswire.com/ -- Navigation satellite systems market size generated $225.30 billion in 2021, and is anticipated to generate $552.20 billion by 2031, witnessing a CAGR of 9.5% from 2022 to 2031.

The growing adoption of autonomous vehicles across various applications, along with the rising reliance on location-based services, is propelling the growth of the global navigation satellite systems (GNSS) market. However, challenges such as vulnerability to cyber-attacks and inaccuracies in GNSS data are hindering market expansion. Nevertheless, the integration of 5G technology with GNSS presents promising opportunities for future growth.

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The global navigation satellite market is being driven by the increasing adoption of autonomous vehicles across various applications and the growing reliance on location-based services. However, the market faces challenges from cyber-attacks on navigation satellite systems and inaccuracies in GNSS data, which hinder its growth. Moreover, the integration of 5G with GNSS is expected to create new growth opportunities during the forecast period.

GNSS-based applications have also been used to support precautionary measures. Location measures gained through use of GNSS have helped identify, map, and tag congested places & locations where individuals who have tested positive or have recently travelled. This data enabled the authorities to provide information about the places which need to be avoided.

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The navigation satellite market is segmented on the basis of type, component, application, and region. On the basis of type, it is segmented into global constellations, regional constellations, and satellite-based augmentations. By component, it is classified into devices and services. By services, it is further bifurcated into added-value services and augmentation services. On the basis of application, it is fragmented into consumer and health solutions, road & automotive, and others.

Asia-Pacific is expected to dominate the global navigation satellite market in 2031. The adoption of navigation satellite system is expected to increase in countries such as India, China, Japan, and others, owing to rise in development of cost-effective navigation satellite system, and high investment in defense, retail, military, and public transportation sectors. The market is driven by rise in commercial applications, increase in adoption of mobile devices; and greater need for high speed internet services.

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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global navigation satellite systems market, owing to rise in development of cost-effective navigation satellite system and high investment in defense, retail, military, and public transportation sectors. However, the LAMEA region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031. This is due to surge in foreign investments coupled with government investments.

Leading Market Players: -

Furuno Electric
Hemisphere GNSS
Hexagon
L3 Harris Corporation
Laird Plc
Navtech GPS
Qualcomm Inc
Texas Instruments
Topcon Corporation
Trimble Inc.
Garmin Ltd,
Raytheon Technologies Corp.
SkyTraq Technology. Inc.
STMicroelectronics
Broadcom Inc.

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