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Automatic Dependent Surveillance Broadcast Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Automatic Dependent Surveillance Broadcast Market Size
According to The Business Research Company's, 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 growth in the historic period can be attributed to regulatory mandates, increased airspace capacity, government subsidies and incentives, improved data sharing, and industry partnerships
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%. The growth in the forecast period can be attributed to growth in air traffic, the proliferation of UAVs, growing interest in space-based ads-b solutions, increasing focus on environmental sustainability, cybersecurity concerns, and modernization efforts globally. Major trends in the forecast period include integration with unmanned traffic management systems, advancements in ADS-B technology, emergence of autonomous aircraft, retrofit installations, and innovation in ADS-B
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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
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
Automatic Dependent Surveillance Broadcast Market 2024 Key Insights:
• 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%.
• Increasing Air Traffic On The Automatic Dependent Surveillance-Broadcast Market
• Advancements In Integrated Flight Deck Systems And ADS-B Technology
• North America was the largest region in the automatic dependent surveillance broadcast market in 2023
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