Global Satellite Based Augmentation Systems (SBAS) Market 2018 Upcoming Technologies, Present Trends, challenges, Forecast to 2025
This report studies the global Satellite Based Augmentation Systems (SBAS) market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Satellite Based Augmentation Systems (SBAS) market by companies, region, type and end-use industry.
SBAS systems are geosynchronous satellite systems that provide services for improving the accuracy, integrity and availability of basic SBAS signals.
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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.
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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.
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.
This report focuses on the global top players, covered
Space Systems Loral
The study objectives of this report are:
To study and forecast the market size of Satellite Based Augmentation Systems (SBAS) in global market.
To analyze the global key players, SWOT analysis, value and global market share for top players.
To define, describe and forecast the market by type, end use and region.
To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
To strategically profile the key players and comprehensively analyze their growth strategies.
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