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Garmin Ltd. & Qualcomm Technologies, Inc. Hold a significant share in the satellite navigation system industry. Lockheed Martin Corporation is a prominent global aerospace, defense, and security company with a strong presence in the satellite bus market. With its headquarters in Bethesda, Maryland, Lockheed Martin is recognized for its extensive experience and innovation in space systems and satellite technology. Lockheed Martin provides a wide range of satellite bus solutions tailored to various mission needs, including communications, EO, and scientific research. The company's satellite buses are known for their reliability, advanced technology, and adaptability to different mission profiles.
Qualcomm develops high-performance Global Navigation Satellite System (GNSS) receivers that support multiple satellite constellations, including GPS, GLONASS, Galileo, and BeiDou. These receivers are embedded in a wide range of devices, from smartphones and tablets to automotive systems and wearable technology. Qualcomm is pioneering the integration of 5G technology with satellite navigation, enabling seamless connectivity and enhanced location-based services.
Major players operating in the satellite navigation system industry are:
The services segment in the satellite navigation system industry will generate over USD 70 billion by 2032 driven by the increasing complexity of satellite navigation systems.
The market size for satellite navigation system was valued at USD 60.7 billion in 2023 and is expected to grow at over 4.5% CAGR between 2024 and 2032 owing to the proliferation of autonomous vehicles.
North America market held over 30% share in 2023 due to the demand for high-precision and real-time data.
Garmin Ltd., Qualcomm Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman, RTX corporation, Airbus, and Broadcom Inc.