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Paris, 25 May 2021. – Iridium invests in the Scottish navigation service provider DDK Positioning, the Nasdaq-listed company said.
Iridium has made a strategic investment in the Aberdeen, Scotland based provider of enhanced Global Navigation Satellite System (GNSS) accuracy solutions, the company said.
DDK uses the Iridium network to provide global precision positioning services that can augment GNSS constellations, including GPS and Galileo, “to significantly enhance their accuracy for critical industrial applications”, Iridium said.
DDK is also developing similar services for other GNSS constellations, such as GLONASS and Beidou. The terms of the investment were not disclosed.
According to a report published by the European Global Navigation Satellite Systems Agency (EUSPA), augmentation services like those offered by DDK will account for €65 billion in global GNSS market revenue by 2029, while the global GNSS downstream market, including services delivered and hardware devices, is estimated to reach €325 billion, Iridium said.
