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The high time resolution of ultra-wide-band (UWB) signals facilitates very precise position estimation in many scenarios, which makes a variety applications possible. This paper reviews the problem of position estimation in UWB systems, beginning with an overview of the basic structure of UWB signals and their positioning applications. This overview is followed by a discussion of various position estimation techniques, with an emphasis on time-based approaches, which are particularly suitable for UWB positioning systems. Practical issues arising in UWB signal design and hardware implementation are also discussed.