Global Navigation Satellite Systems (GNSS) represent a foundational technology that has quietly become indispensable to the modern global economy. While many people are familiar with the term GPS, this is just one component of a much larger and more complex international ecosystem of systems, hardware, and services. The technology’s influence extends far beyond simple turn-by-turn directions, underpinning countless industries and enabling new business models that were unimaginable just a few decades ago. Understanding the full scope of this impact requires looking at its market through two distinct lenses: the horizontal market, which comprises the core enabling technologies, and the vertical markets, which represent the specific industries and applications that build upon this foundation. This article provides a detailed analysis of this two-tiered market structure, exploring the core components that make GNSS possible and the diverse applications that drive its economic value.