GNSS or Global Navigation Satellite Systems are a type of equipment used in many industrial applications. This type of equipment can be used for many different forms of transportation including space stations, aviation, maritime, rail, road, or mass transportation. Statista estimates that the navigation devices and services market is worth about $1.87 billion in 2023. If you think you are in need of GNSS, rental is always an option. Let’s look at some reasons why you might consider renting GNSS equipment rather than purchasing it.
The first question you should ask yourself about GNSS rental is how long and how often you would need the equipment. If you are only needing the equipment for short-term use, then it might be beneficial to rent. This allows you flexibility without the commitment of ownership and care. If you would only be needing the equipment very short term, purchasing really does not make financial sense.
You should also ask yourself how often you would need the equipment. Even if you do plan to use it on a long-term basis, would you be using it very regularly? For instance, using equipment throughout the year would constitute long-term use, but if you only use it for a week out of each month, it may still make financial sense to only rent it when you need it.
Another important factor when deciding whether or rent or buy GNSS equipment will be whether you will use the equipment on a project basis or if your organization needs the equipment on a regular and consistent basis. Even if you are using the equipment for projects only, if the projects come very regularly, purchasing could make sense for both cost and upkeep
Renting, however, relieves you of the need to store the equipment or maintain it. You should consider that in addition to the cost of purchasing, you will also be required to maintain the equipment and store it which can also be an expense. All of these factors should be considered and compared to the cost of just buying.
If you are looking for GNSS rental options, please reach out to us today. We are very happy to help you with your navigation equipment needs.