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Countries worldwide are investing heavily in next-generation Global Navigation Satellite Systems (GNSS) to meet growing civilian and military needs. These advanced systems offer improved accuracy, reliability, and resilience against interference and jamming. Initiatives like the EU's Galileo and China's BeiDou are expanding their services with multi-frequency signals and better coverage. These enhancements support a wide range of applications, from autonomous vehicles to critical infrastructure, and adapt to evolving technological and defense requirements. As a result, more robust and versatile navigation solutions are emerging, capable of providing precise positioning data even in challenging environments.
Key players in the navigation satellite payloads industry include Airbus, Boeing, China Academy of Space Technology, GomSpace, Indian Space Research Organisation, Israel Aerospace Industries, L3Harris Technologies, Lockheed Martin, Northrop Grumman, OHB System, Raytheon Technologies, Russian Satellite Communications Company, Sierra Nevada Corporation, Surrey Satellite Technology, and Thales Group.
The North America navigation satellite payloads market held a 44% share in 2023 and is expected to grow due to continuous upgrades to the U.S. GPS system and Canada's contributions to international navigation systems.
The LEO segment in the navigation satellite payloads market was valued at over USD 504 million in 2023, led by its applications in various industries.
The global market for navigation satellite payloads was reached USD 626.6 million in 2023 and is estimated to grow at a CAGR of 8.2% from 2024 to 2032, driven by the growth of self-driving cars, drones, and advanced surveying tools.