The United States Global Positioning System (GPS) is being joined by additional satellite systems from Russia, EU, China, Japan and India to create a new era of Global Navigation Satellite Systems (GNSS) and an enhanced world-wide position, navigation and timing (PNT) utility.
Precise Positioning GNSS equipment capable of accuracies of less than 10cm are used in a steadily growing number of applications including land, marine and aerial surveying, structural monitoring of dams, bridges and buildings, earthquake/tsunami warning systems, atmospheric and meteorological research, space craft navigation and machine control systems for cargo handling, agricultural and earth moving equipment.
Suppliers of precision GNSS goods and services are a mix of established GPS companies such as Trimble Navigation (USA), new entrants such as Septentrio B.V. (EU) and large multi-nationals such as John Deere.
The global value of precision GNSS products and services is approximately US$3 Billion in 2008 and predicted to grow to a value of between US$6-8 Billion by 2012, a CAGR of 19-23%, although prolonged economic downturn in North America and Europe could see growth slow to a CAGR of 15-19%.
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