Satellite-Based Market Growth to be Driven by Emerging Trends | $18.71 Billion by 2029

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What is the Projected Market Size of the Satellite-Based Industry?
In the recent past, the market size for the satellite-based global navigation satellite system (gnss) augmentation system has seen substantial growth. The market, which is estimated to be worth $12.25 billion in 2024, is projected to rise to $13.29 billion in 2025, marking an impressive compound annual growth rate (CAGR) of 8.5%. Factors such as the expansion of the aviation industry, the escalated demand for accurate navigation, the proliferation of precision agriculture, increased air traffic, and concerns over aviation safety have been identified as the key drivers for this historic growth period.

What Will Be the Size of the Satellite-Based Market by 2029?
The market size for the augmentation system of the satellite-based global navigation satellite system (gnss) is set to undergo significant expansion in the forthcoming years, reaching the valuation of $18.71 billion by 2029, this will be at a compound annual growth rate (CAGR) of 8.9%. Key contributors to this growth over the projection period are the rising demand for GNSS systems, enlargement of the SBAS market, application of GNSS, and the increasing instances of air travel. The forecast period also anticipates significant trends such as product innovations, technological progressions, the integration of multiple GNSS constellations, the emergence of next-generation SBAS, and developments in integrity monitoring.

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What Are the Key Drivers Accelerating Growth in the Satellite-Based Market?
The satellite-based global navigation satellite system (GNSS) augmentation system market is projected to grow, fueled by the expanding aviation industry. This industry encompasses diverse business activities and infrastructure concerning aircraft design, manufacture, operation, and maintenance. The aviation sector's growth is brought about by a blend of demographic and economic elements. Augmentation systems for satellite navigation will aid pilots during all stages of a flight, including taxiing, takeoff, en route flight, and landing. This is because it enhances the precision of satellite navigation signals' provided data on position, velocity, and time. The integrity of position information is strengthened by GNSS augmentation systems, which minimize the likelihood of errors and supply pilots with more trustworthy navigation information. For instance, the International Air Transport Association, based in Canada, reported a 105.8% rise in air traffic for Asia-Pacific airlines in July 2023, compared to the previous year. Accordingly, the flourishing aviation industry is spurring the growth of the satellite-based global navigation satellite system (GNSS) augmentation system market.

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How Is the Satellite-Based Market Segmented by Type, Application, and Region?
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

What Are the Key Trends Driving Growth in the Satellite-Based Market?
Leading corporations in the satellite-based GNSS augmentation system market are pioneering new satellite positioning technology to boost their market gains. A satellite positioning chip, also known as a GNSS receiver, is a hi-tech part that processes signals from a group of satellites. As an illustration, in January 2024, Airoha Technology Corp, a company based in Taiwan, unveiled the AG3335MA satellite positioning chip series. This chip series boasts a top-notch GNSS receiver measurement engine, an ultra-low satellite tracking sensitivity at -167 dBm, and the capacity to cold boot positioning in mere 25 seconds. It is capable of reliable operation in harsh environments, from -40 to 105 degrees Celsius. The AG3335MA series has been incorporated into MediaTek's Dimensity auto platform, offering extensive solutions and technical assessments to car manufacturers globally. Furthermore, it has successfully passed the AEC-Q100 Grade 2 reliability qualification tests for automobile use.

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Who Are the Leading Companies Driving Growth in the Satellite-Based Market?
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.

Which Is the Leading Region in the Global Satellite-Based Market?
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.

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