ATOMIC CLOCK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• On March 28, 2024, India, joining a group of four other nations, plans to synchronize its computer systems with a domestically developed 'Rubidium atomic clock.' This clock, launched within a 2G navigation satellite, was developed by the Indian Space Research Organisation (ISRO) for integration with the Indian Regional Navigation Satellite System (IRNSS), known as NavIC. NavIC was developed following the denial of GPS access to India by the American government during the Kargil War. Currently, Indian internet systems sync their time to the U.S.-based Network Time Protocol.
• On March 11, 2024, the European Space Agency (ESA), acting on behalf of the European Commission, awarded a contract worth USD 13.3 million to Leonardo S.p.A (Italy) and Istituto Nazionale di Ricerca Metrologica. The contract aims to design and develop a new ultra-precise atomic clock technology for the Galileo system.
• In June 2023, Microchip Technology Inc. a manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits. introduced the 5071B cesium atomic clock capable of autonomous timekeeping for extended periods in the event of GNSS denials
• In May 2023, India announced plans to launch its first second-generation navigation satellite using the Geosynchronous Satellite Launch Vehicle (GSLV) rocket, according to the Indian Space Research Organisation (ISRO)
• In October 2020, Microchip Technology Inc. acquired Tekron International Limited a network timing solutions provider, adding Tekron's expertise and widely adopted synchronization and timing products to its portfolio, crucial in today's increasingly digital and networked world