Press release
Automatic Dependent Surveillance Broadcast Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation
Automatic Dependent Surveillance Broadcast Global Market Report 2024
As per the report, the automatic dependent surveillance-broadcast market size has grown rapidly in recent years. It will grow from $0.66 billion in 2023 to $0.78 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The automatic dependent surveillance-broadcast market size is expected to see rapid growth in the next few years. It will grow to $1.57 billion in 2028 at a compound annual growth rate (CAGR) of 19%.
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Increasing Air Traffic On The Automatic Dependent Surveillance-Broadcast Market
The increasing air traffic is expected to drive the growth of the automatic-dependent surveillance-broadcast market going forward. Air traffic refers to aircraft movement within a specific area or along a particular route. There is increasing air traffic due to the construction of new airports, expansion of existing facilities, and improvement of air traffic management systems that facilitated the growth of air travel capacity. Automatic dependent surveillance-broadcast (ADS-B) enhances air traffic management by providing real-time aircraft tracking and surveillance data for improved situational awareness and safety. For instance, in January 2024, according to the International Air Transport Association (IATA), a Switzerland-based airlines and aviation association, in 2023, Middle Eastern airlines witnessed a 33.3% surge in traffic compared to 2022, accompanied by a 26.0% rise in capacity and a load factor of 80.1%. Additionally, North American carriers noted a 28.3% year-on-year traffic boost, with a capacity increase of 22.4% and a load factor reaching 84.6%. Therefore, the increasing air traffic drives the growth of the automatic dependent surveillance-broadcast market.
Advancements In Integrated Flight Deck Systems And ADS-B Technology
Major companies operating in the automatic dependent surveillance-broadcast market are developing new technologically advanced products, such as the integrated flight deck system, to serve customers with advanced features better. An integrated flight deck system is a comprehensive avionics solution combining various essential functions into a single, integrated display unit within an aircraft cockpit. For instance, in May 2021, Garmin, a Europe-based GPS technology provider, got approval from the European Aviation Safety Agency (EASA) for the G5000H, an integrated flight deck system with ADS-B (Automatic Dependent Surveillance-Broadcast) In and Out function for the Bell 505 helicopter. This approval allows Bell 505 helicopter owners to upgrade to a state-of-the-art flight deck with advanced ADS-B technology, enhancing pilot awareness and safety. This upgrade aligns with Garmin International Inc.'s commitment to providing cutting-edge avionics solutions for various aircraft, including the Bell 505 helicopter.
The automatic dependent surveillance broadcast market covered in this report is segmented -
1) By Type: ADS-B Out, ADS-B In, ADS-B Ground Stations
2) By Fit: Retro Fit, Line Fit
3) By Platform: Fixed Wing, Rotary Wing
4) By Application: Terminal Maneuvering Area Surveillance, Airborne Surveillance, Automatic Dependent Surveillance
5) By Distribution: Aftermarket, Original Equipment Manufacturer (OEM)
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Major companies operating in the automatic dependent surveillance broadcast market report are Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, BAE Systems plc, NEC Corporation, Thales Group, L3Harris Technologies Inc, Textron Inc, Elbit Systems Ltd, Garmin Ltd., Saab AB, Indra Sistemas S.A, Curtiss-Wright Corporation, Ultra Electronics Holdings plc, Chemring Group plc, Cobham plc, ASELSAN AS, Terma A/S, Gables Engineering, Appareo Systems, FreeFlight Systems, Aireon LLC, Gulf Coast Avionics, Southwest Antennas Inc., ADS-B Technologies LLC
Contents of the report:
1. Executive Summary
2. Automatic Dependent Surveillance Broadcast Market Report Structure
3. Automatic Dependent Surveillance Broadcast Market Trends And Strategies
4. Automatic Dependent Surveillance Broadcast Market - Macro Economic Scenario
5. Automatic Dependent Surveillance Broadcast Market Size And Growth
…..
27. Automatic Dependent Surveillance Broadcast Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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