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Global Satellite Based Augmentation Systems (SBAS) Market Trends, Innovations & Growth Inclinations during 2018-2025
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Over the past few years, the satellite based augmentation systems have progressed rapidly. It is seen that, the prominent players are the prime driving force who are bringing effective technological innovations for the enhanced performance of SBAS. As per prime research findings, the global satellite based augmentation systems market is likely to rise enormously by 2023; it is expected that the concerned market will deliver a CAGR of 5% during the period between 2018 and 2023. Some of the other driving factors motivating the SBAS industry are increased demand for efficient systems to upgrade aviation security coupled with extension across airports and ATC infrastructure. Consecutively, the renovation of airports at the global level along with the bootstrapping of systems has accompanied the SBAS market in mounting further.
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The following section of the report talks about the market segmentation based on type, application and region. Based on type, the global market for SBAS is divided into WAAS, MSAS, EGNOS, SDCM, GAGAN and others. Furthermore, the major applications studied in this report are aviation, road & rail, maritime and others. Geographically, the major regions analyzed in the report are covers Europe, Japan, China, United States, India, Southeast Asia and Central & South America. Each of these segments are examined on the basis of market size growth rate and market share for the period 2013-2025. The report further discusses the major players operating in the global SBAS market are Raytheon Company, Thales, Mitsubishi, SES, Airbus and Space Systems Loral.
Some of the upcoming trends like growing implementation of satellite-based navigation system is gaining extreme popularity as they assist in shortening the route taken by aircrafts. Also, advantages such as high fuel savings and fewer traffic delays are pictured to result in enhanced adoption of SBAS during the forecast period.
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