Navigation by satellite and the economy are closely related. Nowadays, flights, ships and mobile telephones all need these systems to guide them, making the economic implications enormous. The European Union is putting the final touches to its own navigation system: Galileo. Do you want to know what it involves? Then read on!
The economic impact of satellite navigation services
Satellite navigation services are commonplace nowadays. Their impact on the economy has grown to between 6 or 7 % of the GDP of the whole European Union, i.e. about 800,000 million euros. In addition, different service networks increasingly depend on these satellites, something that you can see from the way that your smartphone works, since many applications use these satellites.
However, Europe did not have its own navigation system. As a result, any loss of signal meant a serious problem for its citizens as well as for the development of its economy. In short, the Galileo system was designed to ensure no signal problems and to increase business possibilities.
The European system, Galileo
Galileo came into being to enable Europe to be independent from systems such as the US’s GPS or Russia’s GLONASS. It is being developed by the European Space Agency and the European Union, having begun in 2016, and it is foreseen that the constellation of satellites that comprise it will be complete by 2020. In total there will be 36 of these inventions in orbit.
It is a totally civil system, unlike its US and Russian counterparts; but these systems can connect with each other to offer a better signal. The services that the European system Galileo will offer will be free of charge or paid for, which will affect the precision enjoyed by the user.
The margin of error of the free version will be one metre while that of the paid version will only be one centimetre. It is estimated that it will be 10 times more precise than the GPS system.
Different companies in the EU have participated in the creation of the system and the assembly of the satellites. Of these, a dozen have been Spanish, where GMV has had a leading role, participating in various tasks, such as the development of the control centre or the design of the system itself with which the satellite network functions.
Europe in the vanguard of satellite navigation
Satellite navigation and the economy are closely interconnected at present. Different services need these positioning systems to function and the amounts of money at stake are truly astronomical. At GMV we offer solutions in different fields, such as aeronautics or space. Don’t hesitate to get in touch!
Las opiniones vertidas por el autor son enteramente suyas y no siempre representan la opinión de GMV
The author’s views are entirely his own and may not reflect the views of GMV