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Satellite-based Augmentation System: A Leading Driver Behind The Rising Tide Of Air Traffic Propels SbAS Market Growth Market Expansion in 2025
Satellite-based Augmentation System Market
What Will the Satellite-based Augmentation System Industry Market Size Be by 2025?
Recent years have witnessed a rapid expansion in the market size of the satellite-based augmentation system. Projected growth from $1.4 billion in 2024 to $1.54 billion in 2025, at a compound annual growth rate (CAGR) of 10.2%, is expected. Factors contributing to the growth during the historic period include aviation safety regulations, increase in air traffic, maritime navigation requirements, surveying and mapping applications, and precision agriculture.
What's the Long-Term Growth Forecast for the Satellite-based Augmentation System Market Size Through 2029?
In upcoming years, the market size for the satellite-based augmentation system is predicted to exhibit robust growth, soaring to a valuation of $2.11 billion in 2029 with a CAGR of 8.2%. The anticipated growth within this period can be credited to the expansion of the global navigation satellite system (GNSS) market, the advent of unmanned aerial vehicles (UAVs), proliferation of location-based services (lbs), infrastructural enhancements and rising demand for self-driving vehicles. The forecast period also signifies vital trends such as the worldwide expansion of SbAS networks, improved handling of disasters and emergency responses, integration within surveying and geomatics, advancement of next-generation SbAS, as well as partnerships and collaborations for implementing SbAS.
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What Are the Key Growth Drivers Fueling the Satellite-based Augmentation System Market Expansion?
The satellite-based augmentation system market's expansion is forecasted to be driven by the increasing air traffic. Air traffic involves the navigation and regulation of airplanes in the airspace, managed by air traffic control (ATC) services to guarantee safe and efficient operations. Aircraft activities and air traffic deliver authentic validation, data collection, and user input that enhance the precision, reliability, and functionality of satellite-based augmentation systems (SBAS), intensifying aviation security and efficiency. For example, a report by the Bureau of Transportation Statistics, a US-based government agency, in March 2023 stated that in 2022, US airlines carried 194 million more passengers than in 2021, an annual increase of 30%. Consequently, the expanding air traffic is boosting the growth of the satellite-based augmentation system market.
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What Are the Key Trends Driving Satellite-based Augmentation System Market Growth?
Leading organizations in the satellite-based augmentation system market are concentrating on strategic investments to bolster the manufacture of groundbreaking satellite-based augmentation systems. By investing strategically in this market, companies can boost production efficiency, stimulate product innovation, reduce operational expenses, and expand market visibility. These actions enable them to meet the escalating demand and strengthen their competitive position. For instance, Lockheed Martin, an American aerospace and defense firm, invested in Southern Positioning Augmentation Network (SouthPAN) in September 2022, underscoring the rising significance of satellite-based strategies in diverse sectors like aviation, maritime, and agriculture.
How Is the Satellite-based Augmentation System Market Segmented?
The satellite-based augmentation system market covered in this report 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
Subsegments:
1) By Wide Area Augmentation System (WAAS): Aviation WAAS, Non-Aviation WAAS Applications
2) By European Geostationary Navigation Overlay Service (EGNOS): EGNOS For Aviation, EGNOS For Land And Sea Applications
3) By Multi-Functional Satellite Augmentation System (MSAS): MSAS For Aviation, MSAS For Land Applications
4) By GPS Aided Geo Augmented Navigation (GAGAN): GAGAN For Aviation, GAGAN For Maritime Applications
5) By System For Differential Corrections And Monitoring (SDCM): SDCM For Land Navigation, SDCM For Maritime Navigation
6) By Other Types: Regional Augmentation Systems, Future Augmentation Systems
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Which Companies Are Leading the Charge in Satellite-based Augmentation System Market Innovation?
Major companies operating in the satellite-based augmentation system market include 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., NavatechGPS
Which Regions Are Leading the Global Satellite-based Augmentation System Market in Revenue?
North America was the largest region in the satellite-based augmentation system market in 2024. Asia-Pacific is expected to be the significant growing region in the forecast period. The regions covered in the satellite-based augmentation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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