The Satellite-Based Augmentation System Global Market Report 2023, provides comprehensive information on the satellite-based augmentation system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Satellite-Based Augmentation System Market’s Growth:
As per The Business Research Company’s Satellite-Based Augmentation System Global Market Report 2023, the market is expected to grow from $1.16 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The satellite-based augmentation system market is expected to reach $1.84 billion in 2027 at a CAGR of 9.3%.
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Product innovation stands out as a pivotal trend gaining significant traction within the satellite-based augmentation system market. Leading companies entrenched in the satellite-based augmentation system domain are strategically directing their efforts toward the development of groundbreaking products to fortify their market standing. A compelling example of this strategic approach materialized in July 2021 when U-blox, a Switzerland-based technology stalwart, unveiled the PointPerfect location service.
Distinguished by its prowess, the PointPerfect location service represents a pioneering leap in the realm of advanced global navigation satellite system (GNSS) augmentation. This innovative solution is purpose-built for applications demanding unparalleled precision and reliability in positioning, with a special focus on domains like unmanned aerial vehicles (UAVs) and other autonomous vehicles. U-blox’s strategic move exemplifies a commitment to delivering cutting-edge solutions that cater to the evolving needs of industries reliant on precise geospatial data.
PointPerfect distinguishes itself by ensuring uniform coverage across Europe and the contiguous United States. Notably, this encompasses an impressive span of up to 12 nautical miles, equivalent to approximately 22 kilometers, beyond coastlines. Accessibility is facilitated seamlessly through either mobile internet channels or L-band satellite transmissions, thereby enhancing the versatility of its application.
This development underscores the industry’s dynamic nature and the imperative for companies to continually innovate to stay competitive. By introducing PointPerfect, U-blox not only responds to the demand for heightened precision in satellite-based augmentation systems but also anticipates the evolving needs of sectors reliant on advanced navigation capabilities. As the satellite-based augmentation system market evolves, such initiatives not only position companies as market leaders but also contribute significantly to the technological advancement of global navigation satellite systems.
The satellite-based augmentation system market 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
North America was the largest region in the satellite-based augmentation system market in 2022.
The table of contents in TBRC’s satellite-based augmentation system market report includes:
1. Executive Summary
2. Satellite-based Augmentation System Market Characteristics
3. Satellite-based Augmentation System Market Trends And Strategies
4. Satellite-based Augmentation System Market – Macro Economic Scenario
5. Global Satellite-based Augmentation System Market Size and Growth
…
28. Middle East Satellite-based Augmentation System Market
29. Africa Satellite-based Augmentation System Market
30. Satellite-based Augmentation System Market Competitive Landscape And Company Profiles
31. Satellite-based Augmentation System Market Other Major And Innovative Companies
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