Press release
Evolving Market Trends In The Satellite-Based Industry: Innovative Technologies Driving Growth in Satellite-Based GNSS Augmentation System Market
Satellite-Based
What Is the Expected Satellite-Based Market Size During the Forecast Period?
In recent years, the market size for the satellite-based global navigation satellite system (GNSS) augmentation system has experienced significant growth. Projections indicate a rise from $12.25 billion in 2024 to $13.41 billion in 2025, equating to a compound annual growth rate (CAGR) of 9.5%. This historical growth can be credited to several factors including the expansion of the aviation industry, heightened demand for accurate navigation, advances in precision agriculture, increased air traffic, and concerns about aviation safety, as well as the increasing applications of the system.
A significant expansion is predicted in the satellite-based global navigation satellite system (GNSS) augmentation system market over the coming years. By 2029, its worth is projected to reach $19.09 billion, with a compound annual growth rate (CAGR) of 9.2%. The projected growth within this period can be linked to the growing demand for GNSS systems, SBAS market expansion, GNSS applications, and the rising frequency of air travel. Future trends anticipate product innovations, technological advancements, integration of various GNSS constellations, emergence of next-generation SBAS, and advancements in integrity monitoring.
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What Are the High-Growth Segments in the Satellite-Based Market?
The satellite-based global navigation satellite system (GNSS) augmentation system market covered in this report is segmented -
1) By Solution: Satellite-Based Augmentation Systems Payload, Reference Station, Uplink Station, Other Solution
2) By Platform: Wide Area Augmentation System, European Geostationary Navigation Overlay Service, Other Platforms
3) By Application: Aviation, Maritime, Road And Rail, Others
Subsegments:
1) By Satellite-Based Augmentation Systems Payload: Geostationary Satellite Payloads, Low Earth Orbit Satellite Payloads
2) By Reference Station: Ground-Based Reference Stations, Networked Reference Stations
3) By Uplink Station: Uplink Antennas, Control And Monitoring Equipment
4) By Other Solution: Integration Services, Data Processing Services, Maintenance And Support Services
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What Key Drivers Are Expected to Influence Future Satellite-Based Market Growth?
The satellite-based global navigation satellite system (GNSS) augmentation system market is set to surge due to the expanding aviation industry. The aviation sector encompasses all business pursuits and infrastructure linked to the creation, functioning, and upkeep of aircraft. This sector's expansion is propelled by various economic and demographic factors. Augmentation systems in satellite navigation will support pilots during all flight stages, including taxiing, takeoff, en route flying, and landing. They refine the precision of position, velocity, and timing data provided by satellite navigation signals. These systems also amplify the validity of position data, eluding risk of error and supplying more trustworthy data for navigation to pilots. For instance, in a data released in September 2023 by the International Air Transport Association, a Canada-based organization, Asia-Pacific airlines reported a 105.8% surge in traffic in July 2023 compared to July 2022. As a result, the booming aviation industry is fueling the surge of the satellite-based global navigation satellite system (GNSS) augmentation system market.
Which Companies Hold the Largest Share Across Different Satellite-Based Market Segments?
Major companies operating in the satellite-based global navigation satellite system (GNSS) augmentation system market are Mitsubishi Corporation, Raytheon Technologies Corporation, Lockheed martin corporation, Airbus S.E, Northrop Grumman, Honeywell International Inc., BAE Systems plc, Boeing Satellite Systems International, Thales Group, L3Harris Technologies Inc., Leidos Holdings Inc., Space Exploration Technologies Corp. (SpaceX), Intelsat, SES S.A., Eutelsat Communications, Space Systems Loral, Telesat, cobham plc, Universal Avionics Systems Corporation, GeoOptics Inc., Deimos Imaging, Grintex India Limited, QinetiQ Group plc, Novatel Aerospace, Trust Precision Engineering Co Ltd.
What Are the Latest Developing Trends in the Satellite-Based Market?
Leading firms in the satellite-based global navigation satellite system (GNSS) augmentation system market are devising novel satellite positioning chips to boost their market profitability. A satellite positioning chip, also known as a global navigation satellite system (GNSS) receiver, is an electronic component that captures and interprets signals from a satellite constellation. For example, in January 2024, Airoha Technology Corp., a company grounded in Taiwan, introduced the AG3335MA satellite positioning chip series. The series features a top-tier GNSS receiver measurement engine boasting an ultra-low satellite tracking sensitivity of -167 dBm and a swift cold boot positioning time of merely 25 seconds. It can function dependably in harsh environments, with temperatures ranging from -40 to 105 degrees Celsius. The AG3335MA series has been fused with MediaTek's Dimensity auto platform, offering automotive manufacturers worldwide extensive solutions and technical testing services. It has also passed the AEC-Q100 Grade 2 reliability qualification tests intended for automotive applications.
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What Are the Emerging Geographies for The Satellite-Based Market Growth?
North America was the largest region in the satellite-based global navigation satellite system (GNSS) augmentation system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite-based global navigation satellite system (GNSS) augmentation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Satellite-Based Market?
2. What is the CAGR expected in the Satellite-Based Market?
3. What Are the Key Innovations Transforming the Satellite-Based Industry?
4. Which Region Is Leading the Satellite-Based Market?
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