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Global Satellite-Based Augmentation System Market Overview Covering Forecast Market Size And Growth Rate | RTX Corporation (Raytheon Technologies Corporation), Lockheed Martin Corporation, Airbus SE

Satellite-Based Augmentation System Global Market Report

Satellite-Based Augmentation System Global Market Report

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Satellite-Based Augmentation System Global Market Report 2023 identifies the growing air traffic is expected to propel the growth of the satellite-based augmentation system market going forward. Air traffic refers to the movement and management of airplanes in the airspace, controlled by air traffic control (ATC) services to ensure safe and effective operations. Aircraft operations and air traffic provide real-world validation, data gathering, and user input that improve the accuracy, dependability, and performance of satellite-based augmentation systems (SBAS), strengthening aviation safety and effectiveness.

The global satellite-based augmentation system market is expected to grow from $1.16 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite-based augmentation system market is expected to reach $1.84 billion in 2027 at a CAGR of 9.3%.

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Major players in the satellite-based augmentation system market are RTX Corporation (Raytheon Technologies Corporation), Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, Honeywell International Inc., Broadcom Corporation, Safran Group, Federal Aviation Administration (FAA), Thales Group, L3Harris Technologies Inc., STMicroelectronics N.V., Elbit Systems Ltd., Rockwell Collins Inc., Garmin Ltd., Trimble Inc., Collins Aerospace, Topcon Corporation, Inmarsat Global Limited, u-Blox Holding AG, Spirent Communications Plc, GMV Innovating Solutions S.L., NovAtel Inc., Universal Avionics Systems Corporation, Accord Software & Systems Pvt. Ltd., Swift Navigation Inc., Hemisphere GNSS, Grintex India Limited, Septentrio NV, Locosys Technology Inc., NexNav Inc., and NavatechGPS.

A key trend in the Satellite-Based Augmentation System market includes the Product innovation has emerged as a key trend gaining popularity in the satellite-based augmentation system market. Major companies operating in the satellite-based augmentation system market are concentrating on creating innovative products to strengthen their position in the market.

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The Satellite-Based Augmentation System market is segmented -
1) By Type: Wide Area Augmentation System (WAAS), European Geostationary Navigation Overlay Service (EGNOS), Multi-functional Satellite Augmentation System (MSAS), GPS Aided GEO Augmented Navigation (GAGAN), System For Differential Corrections And Monitoring (SDCM), Other Types
2) By Component: Satellites, Ground Stations, Receivers, Other Components
3) By Application: Aviation, Maritime, Road And Rail, Surveying, Timing And Synchronization, Agriculture, Other Applications

By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Satellite-Based Augmentation System market.

The Business Research Company's "Global Satellite-Based Augmentation System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Satellite-Based Augmentation System Market Include:
1. Executive Summary
2. Satellite-Based Augmentation System Market Characteristics
3. Satellite-Based Augmentation System Market Trends And Strategies
4. Satellite-Based Augmentation System Market - Macro Economic Scenario
5. Satellite-Based Augmentation System Market Size And Growth
……
27. Satellite-Based Augmentation System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Satellite-Based Augmentation System Market
29. Satellite-Based Augmentation System Market Future Outlook and Potential Analysis
30. Appendix

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