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SBAS systems are geosynchronous satellite systems that provide services for improving the accuracy, integrity and availability of basic SBAS signals.
Scope of the Report:
SBAS assist existing global navigation satellite systems (GNSS) by improving their performance and compensating their drawbacks. They provide accuracy, integrity, reliability, and availability. Higher performance of GNSS assures aircrafts better flight navigation, furthering utmost travel safety. Due to this, SBAS are classified as primary navigation equipment, thus propelling the market. Many countries have launched their own SBAS to increase aviation-safety.
Over the past few years, Satellite Based Augmentation Systems have evolved rapidly. Evidently, the prominent players (mentioned above) are their driving force and bring about technological innovations to enhance their performance.
Accrediting the seminal work of key vendors and market traction, SBAS display multiple prospects worldwide. Market Research Future' recently published a report, according to which the global satellite based augmentation systems market is estimated to ascend enormously by 2023, recording a CAGR of 5% during 2018 to 2023.
The increase in airport development and modernization projects is the key driver for the growth of this market. The recent growth in air traffic, both passenger, and cargo has resulted in the expansion and modernization of existing airports. The expansion and modernization of existing airports are expected to bolster the demand for an effective satellite-based augmentation system, which will aid in managing traffic and aircraft movement.
Other driving factors of the SBAS industry are higher demand for efficient systems to improve aviation security coupled with expansion across airports and ATC infrastructure. Simultaneously, renovation of airports worldwide along with the bootstrapping of systems has escorted the SBAS market in ascending further. Governmental initiatives & investments also foster market growth.
Satellite based augmentation systems also widen the scope of GNSS in geodetic engineering, precision farming, and on road vehicle fleet management. This extended area of application provides impetus to the demand for SBAS, raising the market size.
Upcoming trends such as the growing implementation of satellite-based navigation system are rapidly gaining popularity as they help to shorten the route taken by aircrafts. A satellite-based navigation system uses GPS technology to shorten routes and allows aircrafts to fly closer together with greater safety margins. Advantages like high fuel savings, fewer traffic delays, and its ability to reduce the flight time are envisaged to result in its augmented adoption during the forecast period.
The global Satellite Based Augmentation Systems (SBAS) market is valued at 480 million USD in 2018 and is expected to reach 650 million USD by the end of 2024, growing at a CAGR of 5.0% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Satellite Based Augmentation Systems (SBAS).
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Satellite Based Augmentation Systems (SBAS) market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Satellite Based Augmentation Systems (SBAS) market by product type and applications/end industries.
Market Segment by Companies, this report covers
- Raytheon Company
- Mitsubishi
- Thales
- Airbus
- SES
- Space Systems Loral
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- WAAS
- EGNOS
- MSAS
- GAGAN
- SDCM
- Others
Market Segment by Applications, can be divided into
- Aviation
- Maritime
- Road & Rail
- Others