Satellite Based Augmentation Systems Market: 2019 Size, Share, Growth Factor And Competitive Analysis By Leading Key Players Like Garmin International, Raytheon, Rockwell Collins, Thales Group, Universal Avionics, Advanced Navigation and Positioning

Satellite Based Augmentation Systems Market 2019: Global Information by Elements (SATCOM, Radar, and Electric Optic/ Infrared), by Aircraft Types (Fixed Wing and Rotary Wing), and Region – Satellite Based Augmentation Systems Market by Global Forecast to 2023.

Satellite-based Augmentation Systems Market Key Players

The key players in the global satellite based augmentation system market are 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).

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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 2023, which will be a growing fast at a moderate CAGR during the forecast period (2017 -2023).

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.

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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

The market is segmented based on region into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The Asia Pacific region is expected to dominate the market in future due to high demand for civil aviation in countries, such as India and Japan.

The market in the North America region is second to the Asia-Pacific due to growing investments in airport infrastructure. Thus, The Global Satellite Based Augmentation System Market is estimated to witness approximately 6% CAGR during the period of 2017-2023.

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.

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This release was published on openPR.