How the Satellite-based Augmentation System Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theSatellite-based Augmentation System Market?
The expected surge in air traffic is anticipated to catalyze the expansion of the satellite-based augmentation system market. Air traffic, encompassing the movement and regulation of airplanes within the airspace under the oversight of air traffic control (ATC) services, is actively contributing to the safety and efficiency of flight operations. These activities not only validate the real-life application but also facilitate the collection of data and user feedback that enhances the precision, reliability, and functionality of satellite-based augmentation systems (SBAS), thereby reinforcing aviation safety and productivity. For instance, as per a report by the Bureau of Transportation Statistics, a US-based government department in March 2023, there was an increase of 194 million passengers in the total number of individuals transported by US airlines in the year 2022, up by 30% from the previous year. Hence, the escalating air traffic is driving the expansion of the satellite-based augmentation system market.
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#What is the Anticipated CAGR of theSatellite-based Augmentation System Market, and What Factors Will Drive It?
The market size of the satellite-based augmentation system has shown considerable expansion recently. Its growth is projected to surge from $1.4 billion in 2024 to $1.54 billion in 2025, representing a compound annual growth rate (CAGR) of 10.2%. The unprecedented growth observed in the historical phase can be linked to factors such as aviation safety rules, increasing air traffic, maritime navigation needs, applications in surveying and mapping, and precision agriculture.
The market size of the satellite-based augmentation system is anticipated to experience considerable growth in the upcoming years, escalating to $2.11 billion in 2029 with an 8.2% compound annual growth rate (CAGR). This growth during the forecast period can be credited to the expansion of the global navigation satellite system (GNSS), the advent of unmanned aerial vehicles (UAVs), the proliferation of location-based services, infrastructural progression, and a surge in the necessity for autonomous vehicles. Noteworthy trends for the forecast period encompass global expansion of SbAS networks, improved disaster management and emergency responsiveness, incorporation into surveying and geomatics, production of cutting-edge SbAS, and cooperative efforts for SbAS implementation.
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What Key Market Trends and Innovations Are Shaping the Future of theSatellite-based Augmentation System Industry?
Taking steps to boost the production of groundbreaking satellite-based augmentation systems, key firms within the market are making tactically focused investments. Through such strategic spending in the satellite-based augmentation system market, companies experience efficient manufacturing processes, innovative product development, reduced operational expenses, and widened market penetration. These forward-thinking measures fortify companies’ competitive position by addressing the escalating demand. A notable example was in September 2022, when Lockheed Martin, which is an aerospace and defense firm based in the US, made an investment in the Southern Positioning Augmentation Network (SouthPAN). Such investments underscore the escalating significance of satellite-based solutions across a range of sectors, including aviation, maritime, and agriculture.
Which Companies Are Leading the Charge in Expanding theSatellite-based Augmentation System Market Growth?
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
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How is the Global Satellite-based Augmentation System Market Segemented?
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 Geographics are Influencing the Growth of the Satellite-based Augmentation System Market?
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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