An opportunistic navigation framework using low Earth orbit (LEO) satellites is analyzed. This framework, termed simultaneous tracking and navigation (STAN), estimates a navigating vehicle’s state along with the states of orbiting LEO satellites. STAN employs an extended Kalman filter (EKF) to fuse measurements from satellite receivers and an inertial navigation system (INS). The navigation performance is analyzed due to: (i) the vehicle being equipped with (1) different inertial measurement unit (IMU) grades: consumer, industrial, and tactical and (2) different receiver clock quality: temperature-compensated crystal oscillators (TCXO) and oven-controlled crystal oscillators (OCXO) and (ii) the LEO satellites being equipped with different transmitter clock quality: OCXO and chip-scale atomic clock (CSAC). Additionally, the effect of utilizing a large number of LEO satellites for navigation is investigated. This analysis provides insight into the achievable performance of STAN, which can serve as an alternative navigation system in global navigation satellite system (GNSS)-denied environments. The performance predictions from simulations are compared with experimental results with real signals from the Orbcomm LEO constellation. A close match between the simulation and experimental results is demonstrated for an unmanned aerial vehicle (UAV) navigating via the STAN framework with signals from two Orbcomm LEO satellites for 160 seconds, the last 35 seconds of which are without GNSS signals. The UAV’s position root-mean squared error (RMSE) from simulations was 8.6 m, while the experimental position RMSE was 10 m.