Market Share of Assured PNT Industry
The assured PNT market is consolidated and with the presence of prominent companies such as BAE Systems plc, Northrop Grumman Corporation, General Dynamics Corporation, Leonardo DRS (a part of Leonardo S.p.A.), and Honeywell International Inc. This is also supported by their growth rates, which are remarkably close to the market. For instance, in February 2023, RTX Corporation announced being awarded a USD 8.6 million contract to provide F-35 JPALS for the Japan Maritime Self-Defense Force (JMSDF). JPALS is a software-based differential Global Positioning System navigation and precision landing system. The contract was awarded by the US Navy. JPALS is integrated with the F-35 fighter, capable of operating, approaching, and landing on naval vessels at sea in all weather conditions. Their ability to continually innovate their products through significant research and development investments has helped them achieve a competitive advantage over other players.
Assured PNT Market Leaders
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Northrop Grumman Corporation
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General Dynamics Corporation
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Honeywell International Inc.
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BAE Systems plc
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Leonardo DRS (Leonardo S.p.A.)
*Disclaimer: Major Players sorted in no particular order
