PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284203
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284203
According to Stratistics MRC, the Global Satellite Based Augmentation System Market is accounted for $1.28 billion in 2022 and is expected to reach $1.89 billion by 2028 growing at a CAGR of 6.74% during the forecast period. The satellite-based augmentation system (SBAS) is a navigation system that improves the precision and integrity of GNSS signals, including GPS and the Global Positioning System (GLONASS). SBAS uses a network of ground-based reference stations to broadcast additional data, which is then relayed to user receivers via geostationary satellites. The users can fix positional mistakes brought on by air disturbances, satellite clock and orbit issues, and other elements that alter GNSS signals thanks to this additional information.
According to the Federal Aviation Administration (FAA), a U.S.-based government agency and regulatory body of civil aviation and surrounding international waters, there are currently 4,099 published LPVs serving 1,979 airports. It also stated that its plans to add more LPVs to qualified runways.
An airport approach technique used by aircraft is called Localizer Performance with Vertical Guidance (LPV). During the last stages of the approach, the precision approach uses a combination of satellite-based navigation technology and ground-based navigation aids to guide flights both laterally and vertically. Additionally, more LPV usage by airport authorities may be a result of increased air traffic and enhanced air transport infrastructure. Growing airport modernization and development initiatives have improved the effectiveness and accessibility of air travel, increasing the number of passengers that fly, which is helping the market. Globalisation and economic development in poorer nations will further fuel the market for satellite-based augmentation systems.
SBAS requires a team of professionals with a wide range of expertise, including understanding of the system specifically and expertise in satellite navigation, geodesy, and other related subjects. However, there is a lack of qualified workers in this industry, which can result in a high staff turnover rate and make it challenging to run and maintain the system efficiently. Due to the fact that SBAS depends on a variety of satellite components, including navigation payloads, communication transponders, and ground-based reference stations, significant market players are also experiencing supply chain issues.
The Global Positioning System (GPS) is extensively reliant on the aviation sector for navigation, flight planning, and air traffic management, therefore any issues with GPS might have a big impact on the sector. By giving GPS receivers more navigational data and correctional information, the method aids in reducing interference in GPS signals. Additionally, the system provides spoofing protection by adding distinctive markers to satellite-based augmentation system signals. These markers allow receivers to distinguish between genuine GEO satellite signals and signals that have been manipulated in any way.
Many different things, including software faults, hardware problems, or human error, can cause technical errors in systems. It involves device failure, inaccurate location information, and signal loss. Serious repercussions from these mistakes could include a loss of navigation or communication abilities. These elements are anticipated to prevent market expansion.
Since the COVID-19 viral epidemic, the illness has spread to nearly all of the world's nations, prompting the World Health Organisation to declare a public health emergency. The market for Satellite Based Augmentation Systems (SBAS) would be greatly impacted by the global effects of the coronavirus epidemic in 2020. Flight cancellations, travel bans, and quarantines, restaurant closures, restrictions on all indoor and outdoor events, the declaration of states of emergency in more than 40 countries, a significant slowdown in the supply chain, stock market volatility, a decline in business confidence, rising public panic, and uncertainty about the future are just a few of the effects of the COVID-19 outbreak.
The EGNOS segment is estimated to have a lucrative growth, due to Chinese government and private enterprises have increased their investment activity. Chinese start-ups are developing GNSS-enhancing satellite constellations with the high-precision requirements of autonomous driving in mind, like Weilai Daohang and Geespace.
The road & rail segment is anticipated to witness the highest CAGR growth during the forecast period, due to the government has made significant investments in building high-speed rail networks in several regions. Additionally, as cities and populations have grown, there has been an increasing demand for roads, which has sped up the construction of road infrastructure in many nations throughout the world. This is expected to support industry growth over the coming years.
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing use of aviation technology in nations like China, India, and Japan. Additionally, these nations are making significant investments in infrastructure development projects, such as building roads, highways, and railroads. Over the course of the projected period, these variables are anticipated to fuel demand for satellite-based augmentation systems (SBAS).
North America is projected to have the highest CAGR over the forecast period, owing to significant governmental investments in expanding transportation networks throughout the United States, Canada, and Mexico, as well as rising road infrastructure spending by businesses like state highway departments and agencies, municipal councils, provincial departments of transportation, the federal Department of Transportation, transit authorities, etc.
Some of the key players profiled in the Satellite Based Augmentation System Market include Advanced Navigation and Positioning Corporation (ANPC) , Airbus, ComSoft VSAT Solutions GmbH, Copperchase Limited , Garmin Ltd., Honeywell International, Inc., Intelcan Technosystems, Inc., Lockheed Martin Corporation, Mitsubishi, Northrop Grumman Corporation, Raytheon Company, Rockwell Collins, Inc., SAAB AB, Searidge Technologies Inc., SES, Space Systems Loral, Thales Group and Universal Avionics System Corporation.
In December 2022, Airbus S.E, a Netherlands-based Aerospace Corporation, has passed the System Critical Design Review (CDR) for the satellite based enhanced system EGNOS V3 (European Geostationary Navigation Overlay Service) which is developed to add critical safety features to the most safety-critical applications, including aircraft navigation and landing and to provide sea and land users with entirely new services. EGNOS V3 is the 2nd generation of the overlay system and improves the performance of GPS and Galileo.
In September 2022, Raytheon Intelligence & Space, a subsidiary of Raytheon Technologies, has been awarded a WAAS DFO-2 contract by the Federal Aviation Administration, a U.S.-based government agency and regulatory body of civil aviation and surrounding international waters with a ceiling value of USD 375 million over the next ten years, to provide technical refresh and Dual Frequency Operation (DFO) upgrades to the FAA's Wide-Area Augmentation System (WAAS).
In June 2022, Thales Alenia Space has signed a new contract with the E.U. Space Program Agency (EUSPA) to develop, certify, and deploy a new version of the European Geostationary Navigation Overlay Service (EGNOS). Thales Alenia Space reached a new milestone in its Galileo program by integrating a new satellite into Galileo's Ground Mission Segment (GMS). This will improve location services for 3.3 billion users.
In April 2022, The Indian Ministry of Civil Aviation announced that the Airports Authority of India (AAI) has successfully conducted trials applying the latest technology derived from its proprietary satellite based augmentation system 'SBAS' called GAGAN (GPS Aided GEO Augmented Navigation) at Kishangarh Airport in Rajasthan. InterGlobe Aviation Ltd. (IndiGo) flew an aircraft using Instrument Approach Procedure (IAP) with an LPV minimum of 250 feet using the GAGAN service.