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Satellite Based Augmentation Systems Market Applications, Analysis, Segments, Size, Share, Industry Growth, Recent Trends by Forecast to 2023

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Global Satellite Based Augmentation Systems Market Information by Elements (SATCOM, Radar, and Electric Optic/ Infrared), by Aircraft Types (Fixed Wing and Rotary Wing), and Region – Global Forecast to 2023

— Overview:

According to a recent study report published by Market Research Future, the global market for satellite-based augmentation systems (SBAS) will grow at a rapid pace over the forecast period. The market is expected to witness slow but steady growth until 2023, which will be a growing fast at a moderate CAGR during the forecast period (2017 -2023).

The high demand for satellite-based augmentation systems market is due to the growing development of ATC infrastructure, need for authentic and accurate information to avoid errors, and rise in the development of airport construction and modernization, thus increasing the participation of manufacturers. Rapid technology advancement, along with increased focus of OEMs on providing accurate and precise navigation system, is expected to result in an increase in aircraft expenses and add to the growth of the market.

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However, the cost associated with Air Traffic Management (ATM) infrastructure modernization and retrofitting older aircraft with upgraded systems act as a barrier to the growth of satellite-based augmentation systems market. The revolution of modern electronic systems results in many aircraft manufacturers upgrading technologies with new avionics.

The satellite-based augmentation systems market is completely dependent on the expansion of air passenger traffic. Thus, the increasing or decreasing demand for air passenger traffic directly has an impact on the market. Moreover, other factors responsible for the growth of the satellite-based augmentation systems market are demand for avionics system with gen-next aircraft, demand for accurate flight navigation, capability of handling more air traffic, collision avoidance systems, gyroscopes, and integration of early warning radar.

This is the primary factor that drives the growth of the global satellite-based augmentation systems market and has gained prevalence in the recent times, with the usage of best in class technologies in the aircraft industry. Thus, the growth of the satellite-based augmentation systems market is expected to go hand in hand with the growth of investment in the aircraft sector.

The main objective of developing satellite-based augmentation systems is to produce an accuracy of the position of the navigation system, integrity of information, reliability of the system throughout the flight operation, and availability of GPS system. SBAS offers an economic opportunity for airports, while not putting in ground-based navigation aids. SBAS consists of a network of stations to receive and process satellite signals. The SBAS systems consist of Wide Area Augmentation System (WAAS), European Geostationary Navigation Overlay Service (EGNOS), Multi-functional Satellite Augmentation System (MSAS), and GPS-Aided Geo-Augmentation Navigation (GAGAN), which are designed in compliance with regulatory norms in satellite-based navigation.

Key Players:

Garmin International Inc. (U.S.), Raytheon (U.S.), Rockwell Collins (U.S.), Thales Group (France), Universal Avionics (U.S.), Advanced Navigation and Positioning Corporation (U.S.), Copperchase Ltd. (U.K.), Intelcan Techno systems (Canada), Honeywell International (U.S.), Lockheed Martin (U.S.), Northrop Grumman (U.S.), and Saab AB (Sweden) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global satellite-based augmentation systems market.

Segmentation:

The global satellite-based augmentation systems market is segmented into 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Elements: Comprises SATCOM, Radar, Electric Optic/ Infrared

Segmentation by Product: Comprises Fixed Wing and Rotary Wing

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Regional Analysis:

Asia Pacific region is dominating the market of the global satellite-based augmentation systems market due to high demand for civil aviation. The market in the Asia Pacific countries is largely driven by new routes, ventures, and business models, which helps in the growth of global satellite-based augmentation systems market.

North America market is referred to as the second-largest satellite-based augmentation market due to factors such as growing investment in airport infrastructure have fuelled the demand for global satellite-based augmentation systems market.

For More Information and TOC:
https://www.marketresearchfuture.com/reports/satellite-based-augmentation-systems-market-1634

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have a supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India
Phone: +1 628 258 0071
Website: https://www.marketresearchfuture.com/reports/satellite-based-augmentation-systems-market-1634

Source URL: https://marketersmedia.com/satellite-based-augmentation-systems-market-applications-analysis-segments-size-share-industry-growth-recent-trends-by-forecast-to-2023/88910507

Source: MarketersMedia

Release ID: 88910507

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