Evenflow, in partnership with LE Europe and VVA, were commissioned by the European Union Agency for the Space Programme (EUSPA) and the European Investment Bank (EIB) to assist with the preparation of the first-ever Global Navigation Satellite Systems Investment Report.
With a comprehensive investment analysis of the GNSS market, the report examines and forecasts the dynamics of the sector overall. The report finds that while Europe still holds a strong position in the global landscape of GNSS downstream solutions, more funding, more strategic oversight, increased risk-taking and bigger ambitions will be needed to increase EU competitiveness throughout global GNSS markets.
Some key findings:
The increasing use of GNSS-based technologies creates an excellent opportunity for European companies to enter new geographical markets and expand their service offering.
Europe trails North America and Asia-Pacific regions with a relatively low market share in several fast-growing segments (drones, consumer solutions). As a result, even if Europe manages to retain its market share in each particular segment, it is projected that the overall market share will be gradually falling over time, reaching 24.2% in 2022 and 22.8% in 2032.
Total European revenues are predicted to grow (despite potential loss of market share), as the global downstream GNSS market is expected to expand from €220bn in 2022 to €510bn in 2032.
Both at a private and public level, Europe will need to invest up to € 42 billion in the next 10 years to remain competitive across the global GNSS playing field.