Satellite Based Augmentation Systems (SBAS) Market to Grow Significantly With Increasing Advancements in Technology, Says QYR
Oct 9, 2018
QYResearch (QYR) (www.qyresearch.com) has published a new report titled, ‘Satellite Based Augmentation Systems (SBAS) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2025’.
Los Angeles, United States - October 9, 2018 /MarketersMedia/ —
This report focuses on the global Satellite Based Augmentation Systems (SBAS) status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Satellite Based Augmentation Systems (SBAS) development in United States, Europe and China.
SBAS systems are geosynchronous satellite systems that provide services for improving the accuracy, integrity and availability of basic SBAS signals.
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.
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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.
In 2017, the global Satellite Based Augmentation Systems (SBAS) market size was 480 million US$ and it is expected to reach 710 million US$ by the end of 2025, with a CAGR of 4.9% during 2018-2025.
The key players covered in this study
Raytheon Company
Mitsubishi
Thales
Airbus
SES
Space Systems Loral
...
Market segment by Type, the product can be split into
WAAS
EGNOS
MSAS
GAGAN
SDCM
Others
Market segment by Application, split into
Aviation
Maritime
Road & Rail
Others
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
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