The Economic Benefits of the Global Navigation Satellite System and its Commercial and Non-Commercial Applications
December 2013 | Contributors: Nam D. Pham, Ph.D.
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The applications of Global Navigation Satellite System (GNSS) are rapidly increasing across sectors. As an innovative industry, the GNSS industry directly affects economic activities and economic growth worldwide. During the past several decades, GNSS technology has transformed American businesses and lifestyles with innovative products and services across industries. GNSS applications have improved business operations and best practices in a range of industries from farming, construction, transportation, and aerospace. In addition to creating efficiencies and reducing operating costs, the adoption of GNSS technology has improved safety, environmental quality, and has delivered many other less-readily quantifiable benefits. Furthermore, GNSS applications have entered into our daily life in many ways that we might not think about and be taken them for granted. For example, a person uses GPS-watch for a pleasure run or a mom uses a GPS-navigation device to looking for alternative route to pick up her kid at the daycare. The values of those services are beyond monetary values. Nevertheless, the future potential is still far reaching.