Satellite Based Augmentation System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Satellite Based Augmentation System Market
The satellite based augmentation system market size was valued at USD 1.28 billion in 2022, and the market is now projected to grow from USD 1.54 billion in 2023 to USD 2.13 billion by 2030, exhibiting a CAGR of 4.74 % during the forecast period of 2023-2030.
The effect of COVID-19 on SBAS has been quite minimum, with a few disruptions to ground-primarily based reference stations and vital processing facilities due to lockdowns and travel rule regulations. SBAS machine providers have ensured continuity of carrier via far off monitoring, protection, and using backup centers.
The growing use of Localizer Performance with Vertical Guidance (LPV) with the aid of airport authorities globally is using market boom. LPV is a precision approach system combining satellite-based totally navigation and floor-primarily based aids, presenting aircraft both lateral and vertical steering throughout very last approach levels.
Technological improvements in Satellite Based Augmentation Systems (SBAS) are using marketplace increase. Key tendencies include most important gamers that specialize in enhancing gadget integrity via the usage of a couple of satellites and ground stations, resulting in greater accurate and reliable positioning facts
Comprehensive Analysis of Satellite Based Augmentation System Market
The satellite based augmentation system market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated By Platform Analysis, By Solution Analysis, By Application Analysis. By Platform Analysis include WAAS, EGNOS, BDSBAS.By Solution Analysis include SBAS payload, reference stations, uplink station. By Application Analysis include aviation, maritime, road & rail, and others.
The North America region lead the satellite based augmentation system market share by benefitting a market size of USD 121.62 million in 2023 due to R&D spending in the region for WAAS system development.
The top gamers inside the market play a critical role in the industry assuring market boom and placing marketplace standards. These players include Thales Group, Raytheon Technologies Corporation, Airbus S.E, Lockheed Martin Corporation, Northrop Grumman, Leidos Holdings, Inc., Honeywell International Inc., L3Harris Technologies Inc., Universal Avionics Systems Corporation, Grintex India Limited. these market players provide a level-playing competitive landscape.
In December 2022, Airbus S.E has passed the Critical Design Review for EGNOS V3, enhancing GPS and Galileo performance for critical safety applications in aviation, sea, and land navigation.
Segmentation Table
Attribute Details
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 4.74% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Platform, Solution, Application, and Geography
By Platform
WAAS
EGNOS
BDSBAS
Others
By Solution
SBAS Payload
Reference Station
Uplink Station
Others
By Application
Aviation
Maritime
Road & Rail
Others
By Geography
North America (By Platform, Solution, Application, and Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Platform, Solution, Application, and Country)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Russia (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Platform, Solution, Application, and Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- Rest of Asia Pacific (By Application)
Rest of the World (By Platform, Solution, Application, and Country)
- Saudi Arabia (By Application)
- Israel (By Application)
- Turkey (By Application)
- Rest of the World (By Application
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