Transforming Aviation Safety: The Increasing Significance of Satellite Based Augmentation Systems (SBAS)

Satellite Based Augmentation Systems (SBAS) Market

By type, the satellite based augmentation systems market is categorized into WAAS, EGNOS, MSAS, GAGAN, SDCM, and others.

PORTLAND, OR, UNITED STATES, May 5, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Satellite Based Augmentation Systems Market” was valued at $559.07 million in 2022, and is estimated to reach $906 million by 2032, growing at a CAGR of 5.1% from 2023 to 2032.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/10574

Surge in demand for higher level of accuracy and reliability, particularly in safety-critical applications such as aviation has led to the development of advanced SBAS that offers centimeter-level accuracy and real-time integrity monitoring. Another trend is the increasing use of SBAS in emerging markets such as Asia-Pacific, Latin America, and the Middle East, where there is a growing need for precise navigation and positioning solutions.

Factors driving the growth of the global satellite based augmentation systems market include increase in adoption of GNSS technology across various industries, surge in demand for unmanned aerial vehicles (UAVs) and autonomous vehicles, and rise in need for efficient and reliable transportation and logistics systems.

Furthermore, the development of advanced technologies such as cloud-based SBAS and increase in use of SBAS in precision farming and other agricultural applications notably contribute toward the market growth. Moreover, the satellite based augmentation systems market is expected to continue to grow in the coming years driven by increase in demand for higher levels of accuracy and reliability in a wide range of applications, development of advanced technologies, and rise in adoption of GNSS technology. Thus, such factors are anticipated to drive the demand for satellite based augmentation systems during the forecast period.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/purchase-enquiry/10574

COVID-19 Scenario:

The outbreak of the COVID-19 pandemic had a mixed impact on the global satellite-based augmentation systems industry. While some segments of the market were negatively impacted by the pandemic, it also presented growth opportunities for others.
On the negative side, the pandemic caused disruptions in the supply chain that slowed down the delivery of SBAS systems and components. The development and implementation of SBAS infrastructure was delayed as a result of travel restrictions and the closure of manufacturing facilities in many countries.
In some countries, budget cuts as a result of the pandemic’s economic slowdown affected funding for the creation and use of SBAS. This situation led to delay in the launch of new SBAS systems and the expansion of existing SBAS systems. However, the pandemic has given the SBAS market steady future growth.

In the aviation sector, the Federal Aviation Administration (FAA) has implemented the wide area augmentation system (WAAS) across the US National Airspace System (NAS), providing vertical guidance for precision approaches and improving safety and efficiency. The demand for WAAS-enabled GPS receivers has been increasing in the region, with around 130,000 units sold in North America in 2020 alone. In the maritime sector, the US Coast Guard has implemented the Differential GPS (DGPS) system, which is a type of SBAS, to improve vessel positioning and safety in coastal areas.

The demand for DGPS services has been increasing in the region, with around 2,300 DGPS beacons installed along the US coast as of 2020. Moreover, surge in adoption of UAVs and autonomous vehicles in various industries is expected to drive the demand for SBAS solutions in North America in the coming years. Furthermore, the development of advanced SBAS technologies is expected to fuel the growth of the North America satellite based augmentation systems market during the forecast period.

KEY FINDINGS OF THE STUDY

By type, the WAAS SBAS segment leads the market during the forecast period.
By application, the maritime segment is expected to grow at a lucrative growth rate from 2023 to 2032.
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

The key market players in the satellite based augmentation systems market are Honeywell International Inc., Broadcom, Federal Aviation Administration, Garmin Ltd., Airbus, Raytheon Technologies Corporation, GMV Innovating Solutions S.L., Hexagon AB, and SkyTraq Technology, Inc.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 https://www.alliedmarketresearch.com/satellite-based-augmentation-systems-sbas-market/purchase-options

Allied Market Research
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn