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Satellite Based Augmentation Systems Market – Business Opportunities, Size, Share, Potential Growth, Competitive Landscape, Trends and Industry Analysis with Forecast

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

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The market is expected to witness slow but steady growth until 2021, which will be a growing fast at a moderate CAGR during the forecast period (2017 -2021)

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.

Segmentation:

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.

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.

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Source URL: https://marketersmedia.com/satellite-based-augmentation-systems-market-business-opportunities-size-share-potential-growth-competitive-landscape-trends-and-industry-analysis-with-forecast/514164

Source: MarketersMedia

Release ID: 514164

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