The satellite-based global navigation satellite system (GNSS) augmentation system market size is expected to see strong growth in the next few years. It will grow to $17.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing demand for GNSS systems, expansion of SBAS market, application of GNSS, increasing frequency of air travel. Major trends in the forecast period include product developments, technological advancements, integration of multiple GNSS constellations, rise of next-generation SBAS, advancements in integrity monitoring.
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Segmentation & Regional Insights
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
North America was the largest region in the satellite-based global navigation satellite system (GNSS) augmentation system market in 2023. 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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Major Driver Impacting Market Growth
The growing aviation industry is expected to propel the growth of the satellite-based global navigation satellite system (GNSS) augmentation system market going forward. The aviation industry refers to the collective business activities and infrastructure related to the design, manufacturing, operation, and maintenance of aircraft. The aviation industry is growing due to a combination of demographic, economic factors. Satellite navigation through augmentation systems will assist pilots in all flight phases, from taxing to take-off, en-route flying, and landing, as it improves the accuracy of position, velocity, and time information provided by satellite navigation signals. GNSS augmentation systems enhance the integrity of position information, reducing the risk of errors and providing pilots with more reliable navigation data. For instance, in September 2023, according to the International Air Transport Association, a Canada-based trade association, Asia-Pacific airlines saw a 105.8% increase in July 2023 traffic compared to July 2022. Therefore, the growing aviation industry is driving the growth of the satellite-based global navigation satellite system (GNSS) augmentation system market.
Key Industry Players
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.
The satellite-based global navigation satellite system (gnss) augmentation system market report table of contents includes:
1. Executive Summary
2. Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Characteristics
3. Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Trends And Strategies
4. Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market – Macro Economic Scenario
5. Global Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Size and Growth
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32. Global Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Competitive Benchmarking
33. Global Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market
35. Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Market Future Outlook and Potential Analysis
36. Appendix
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