Recent direct and definitive evidence of surface-exposed water ice in the lunar polar regions (Li et al., 2018) has changed our perception of the Moon. The identification of these resource-rich locations has transformed the economics of Moon mining (Sommariva et al., 2020) and established Earth's satellite as an interesting destination for the private space sector. As a consequence, this decade has seen a plethora of planned lunar missions and the establishment of new public-private partnerships.This article analyzes the case for a lunar GNSS by exploring the design space in a high-fidelity lunar environment and evaluating design trade-offs in terms of performance, cost, and robustness objectives. The investment in a dedicated GNSS in lunar orbit can be justified by the need to execute complex maneuvers-rendezvous, docking, and precise landing-that depend on the supporting positioning, navigation, and timing (PNT) infrastructure.According to the International Space Exploration Coordination Group (ISECG) Global Exploration Roadmap (ISECG Technology Working Group, 2019) the future mission PNT performance targets are: a) absolute and relative position