GPS-based PNT seen as the backbone of global space market
In a new report, positioning, navigation and timing (PNT) is highlighted as a technology that will drive a $1.8 trillion global space market by 2035. The report, authored by the World Economic Forum and McKinsey & Company, shows that lower costs and improved access to such space-enabled technologies as PNT and Earth observation services will drive the global space economy that currently is worth $630 billion.
The study, which says backbone applications include satellites, launch vehicles and GPS make up 50 percent of the space economy. The other half will include non-space emerging markets that rely on space such as weather, parcel tracking and food delivery.
While growing mobility will help PNT in the space economy, terrestrial-based alternatives to GPS could emerge, which would cut the ambitious forecast by billions, the report said. Either way, the report said that while broadband communications will be the main moneymaker for space, the PNT market size will grow by 155 percent by 2035.
Iridium Signs Five-Year Contract with L3Harris
Echoing the importance of PNT and fresh of its acquisition of Satelles, Iridium Communications IRDM -4.12%↓ has announced a five-year contract with L3Harris Technologies LHX 0.13%↑ for the Iridium Satellite Time and Location (STL) service. The deal calls for Iridium to provide the STL service to more than 36 L3Harris-operated communication network systems that support Federal Aviation Administration (FAA) facilities in the United States.
Iridium says its STL service is a component of the overall network timing architecture that removes dependencies on GPS as a primary timing source. Devices provided by Adtran‘s Oscilloquartz division, which receive Iridium STL signals, are also included in the solution for L3Harris, the company said.
In other space contracts:
- TrustPoint has been awarded a $1.6 million AFWERX contract for advanced resilient navigation applications.
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