Global Satellite-based Augmentation Systems Market – Overview
According to a recent study report published by Market Research Future, the global market for satellite-based augmentation systems (SBAS) will grow at a rapid pace over the forecast period. 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 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.
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.
Industry/ Innovation/ Related News:
February 2017 – Lockheed Martin signed a contract with Geoscience Australia to research the development of a satellite-based augmentation system testbed.
October 2016 – Thales signed a contract with Korean Aerospace to develop a satellite-based augmentation system for GPS.
October 2014 – Raytheon signed a contract with United States Satellite-Based Augmentation System to promote air traffic safety.
Global Satellite-based Augmentation Systems Market – Segmentation
The global satellite-based augmentation systems market is segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
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.
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.
Global Satellite-based Augmentation Systems Market: 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.
Access Report Details @ https://www.marketresearchfuture.com/reports/satellite-based-augmentation-systems-market-1634