Overview:

The global satellite based augmentation systems (SBAS) market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Satellite based augmentation systems (SBAS) aids in improving performance, accuracy, and reliability of the global navigation satellite systems. The SBAS corrects the signal measurement errors and provides continuous availability of its signals and information about integrity, continuity, and accuracy.

Market Dynamics:

Rising number of airport projects along with modernization of airports owing to increased air travel are key factors driving growth of the global satellite based augmentation systems market. Also, growing demand for precision farming and increasing number of smart city projects are some other factors expected to propel growth of the target market during the forecast period.

In addition, rising focus on development of satellite based augmentation system for their own use by various countries to improve security and safety is expected to generate lucrative opportunities for the key players in the global market in the near future. Moreover, rising market penetration of wearable devices across the globe is another factor expected to support satellite based augmentation systems market growth over the forecast period.

Key Trends:

Increasing number of strategic contracts and partnership among key players is a key trend observed in the global SBAS market. For instance, in May 2020, European Space Agency (ESA) awarded two contracts to Thales Alenia Space. This contract is funded by the European Commission and aims at studying and development of EGNOS (European Geostationary Navigation Overlay Service).

Regional Analysis:

For detailed understanding of market dynamics, the global satellite based augmentation systems market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is expected to witness fastest growth in the target market over the forecast period. This growth in the Asia Pacific region can be attributed to increasing investment in development of new airports and rise in number of flights in countries in the region.

However, currently the North America is dominating the global market with major market share. Also, the target market in Europe is expected to witness significant growth in the near future.

Scope of the Report:

Detailed Segmentation:

Global Satellite Based Augmentation Systems Market, By Type:

• Wide Area Augmentation System (WAAS)
• European Geostationary Navigation Overlay Service (EGNOS)
• MTSAT Satellite Augmentation System (MSAS)
• GPS Aided GEO Augmented Navigation (GAGAN)
• System for Differential Corrections and Monitoring (SDCM)
• Others

Global Satellite Based Augmentation Systems Market, By Application:

• Aviation
• Maritime
• Road & Rail
• Others

Key Players Covered:

Key players operating in the global satellite based augmentation systems market includes Raytheon Company, Міtѕubіѕhі Corporation, Thales Group, Airbus SE, SES S.A, Ѕрасе Ѕуѕtеmѕ Lоrаl, Lockheed Martin Corporation, Telesat, Intelsat S.A./ Intelsat Corporation, and Thaicom Public Company Ltd.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Satellite Based Augmentation Systems Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global satellite based augmentation systems market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.