The research study conducted by Report Ocean on the “ Satellite Based Augmentation Systems Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Satellite Based Augmentation Systems (SBAS) Market is valued approximately USD 559.1 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2023-2030. Satellite-Based Augmentation Systems (SBAS) are regional or wide-area augmentation systems that enhance the accuracy, integrity, and availability of Global Navigation Satellite Systems (GNSS) signals, such as GPS (Global Positioning System). SBAS works by deploying a network of ground-based reference stations and geostationary satellites to transmit correction messages to GNSS users. The Satellite Based Augmentation Systems (SBAS) market is expanding because of factors such as rise in adoption of unmanned aerial vehicles (UAVs) and autonomous vehicles and increase in demand for precise positioning and navigation in various industries.
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The necessity for precise positioning data has increased with the development of autonomous vehicles, including drones and self-driving cars. This data can be provided by SBAS technology, aiding in the maintenance of these vehicles’ dependability and safety. For instance, in February 2021 General Motors announced to collaborate with the start-up business Cruise to test self-driving vehicles in San Francisco. The vehicles are going to feature SBAS technology to deliver precise positioning data, which is necessary for dependable and safe autonomous driving. Furthermore, the European Space Agency has introduced a new SBAS system called EGNOS that will provide precise positioning information to driverless vehicles in Europe. The system is meant to improve navigational accuracy and dependability, especially in areas where GPS signals may be spotty or weak. Thus, rising adoption of SBAS system in automotive industry is fostering market growth. In addition, advancements in satellite technology and increase in investments by governments and private companies in the development of SBAS infrastructure is creating lucrative growth to the market. However, the high cost of implementation and maintenance stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Satellite Based Augmentation Systems (SBAS) Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to presence of key market players, rising technological advancements, and rising adoption of technology in various industries. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising adoption of autonomous vehicles and active participation of government in the market space.
Major market player included in this report are:
Raytheon Technologies Corporation
Hexagon AB
Thales Group
Airbus Group
Honeywell International Inc.
SkyTraq Technology, Inc.
Broadcom
GMV Innovating Solutions S.L.
Garmin Ltd.
Federal Aviation Administration
Recent Developments in the Market:
In 2020, The US Federal Aviation Administration (FAA) granted Raytheon a contract to create a new SBAS for the Next Generation Air Transportation System (NextGen).
In 2020, Thales and the European Space Agency (ESA) signed a contract to develop a new generation of SBAS compatible with the Galileo satellite navigation system.
Global Satellite Based Augmentation Systems (SBAS) Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
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)
By Application:
Aviation
Maritime
Road and Rail
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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