Iridium invests in Scottish satellite navigation company DDK Positioning2nd Jun 2021
Iridium, an American company with headquarters in Virginia, invests in Scottish satellite navigation company DDK Positioning. DDK is one of the top Scottish space industry experts with headquarters in Aberdeen and great expertise in Global Navigation Satellite System accuracy solutions.
Scottish satellite navigation contribution to GNSS
Scottish satellite navigation company, DDK, will use Iridium’s network, backed up by a constellation of satellites, to provide augmented GNSS services. This will ensure more accuracy when using the GNSS constellation. The same data from a trusted Scottish space company can be applied to other positioning systems, including GPS and Galileo.
DDK already has experience with satellite navigation since it continues to work on GLONASS and Beidou. However, neither DDK nor its investor Iridium shared any other details on the terms and amount of the invested funds.
Expert estimates for GNSS services market
EUSPA, European Global Navigation Satellite Systems Agency, recently published a report highlighting GNSS market revenue estimates by 2029. According to them, augmentation services offered by a Scottish satellite navigation company DDK could result in €65 billion in revenue by that time. Considering a larger share of the GNSS market, revenues from hardware services could reach €325 billion. So, Iridium’s investment in Scottish space companies such as DDK is perfectly justified.