PUBLISHER: The Business Research Company | PRODUCT CODE: 1464180
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464180
The satellite-based global navigation satellite system (GNSS) augmentation system generally refers to systems designed to enhance the performance, accuracy, and reliability of existing GNSS signals by leveraging additional satellites or ground-based infrastructure. These systems furnish correction data and supplementary information to enhance the overall accuracy and integrity of satellite-based positioning services.
The primary solutions within satellite-based Global Navigation Satellite System (GNSS) augmentation systems include the satellite-based augmentation systems payload, reference station, uplink station, and others. The Satellite-based Augmentation Systems Payload denotes the equipment and instruments installed on a satellite, dedicated to supporting a specific satellite-based augmentation system (SBAS). These payloads are utilized across various platforms such as the Wide Area Augmentation System (WAAS), European Geostationary Navigation Overlay Service (EGNOS), and others. They find application in sectors such as aviation, maritime, road and rail navigation, among others.
The satellite-based global navigation satellite system (GNSS) augmentation system market research report is one of a series of new reports from The Business Research Company that provides satellite-based global navigation satellite system (GNSS) augmentation system market statistics, including satellite-based global navigation satellite system (GNSS) augmentation system industry global market size, regional shares, competitors with satellite-based global navigation satellite system (GNSS) augmentation system market share, detailed satellite-based global navigation satellite system (GNSS) augmentation system market segments, market trends, and opportunities, and any further data you may need to thrive in the satellite-based global navigation satellite system (GNSS) augmentation system industry. This satellite-based global navigation satellite system (GNSS) augmentation system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The satellite-based global navigation satellite system (GNSS) augmentation system market size has grown strongly in recent years. It will grow from $11.18 billion in 2023 to $12.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The expansion observed during the historic period can be attributed to several key factors. Firstly, the burgeoning aviation industry played a significant role, with increased air travel leading to a higher demand for precise navigation systems. Additionally, the expansion of precision agriculture contributed to this growth, as farmers increasingly adopted advanced navigation technologies to optimize farming practices. Moreover, the rise in air traffic, coupled with growing concerns regarding aviation safety, prompted investments in navigation solutions aimed at enhancing safety measures. Lastly, the growing application of navigation systems across various sectors further fueled market growth during this period.
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 projected growth in the forecast period can be primarily attributed to several key factors. Firstly, there is an increasing demand for Global Navigation Satellite Systems (GNSS) systems across various industries, driving market expansion. Additionally, the SBAS (Satellite-Based Augmentation Systems) market is expected to witness significant growth, further contributing to overall market expansion. The widespread application of GNSS across diverse sectors is also anticipated to fuel market growth during this period. Moreover, the rising frequency of air travel is expected to create a higher demand for advanced navigation systems.
The global navigation satellite system (GNSS) augmentation system market is poised for growth, primarily driven by the expanding aviation industry. This sector encompasses various business activities and infrastructure related to aircraft, experiencing growth due to demographic and economic factors. Satellite navigation, facilitated by augmentation systems, plays a crucial role in improving the accuracy of position, velocity, and time information provided by satellite signals. Such systems enhance data integrity, reducing navigation errors and providing pilots with more reliable information. Notably, Asia-Pacific airlines witnessed a significant 105.8% increase in traffic in July 2023 compared to the same period in 2022, as reported by the International Air Transport Association. This surge in aviation activities contributes to the upward trajectory of the GNSS augmentation system market.
Major companies are actively innovating to boost profitability. These efforts include the development of new satellite positioning chips, which are essential components of GNSS receivers that receive and process signals from satellite constellations. For example, Airoha Technology Corp., a Taiwan-based technology company, launched the AG3335MA satellite positioning chip series in January 2024. This series features a professional-grade GNSS receiver measurement engine with an ultra-low satellite tracking sensitivity of -167 dBm and a cold boot positioning time of 25 seconds. The chip operates reliably in extreme environments, demonstrating a temperature range from -40 to 105 degrees Celsius. Airoha Technology Corp. has integrated this series with MediaTek's dimensity auto platform, offering comprehensive solutions and technical testing services to automotive manufacturers globally. Additionally, the chip series has successfully completed AEC-Q100 Grade 2 reliability qualification tests for automotive applications.
In October 2023, CNH Industrial N.V., a UK-based agricultural machinery company, completed the acquisition of Hemisphere GNSS for $175 million. This move is aimed at enhancing CNH Industrial's automation and autonomy technology stack, reinforcing its precision solutions. The company intends to integrate Hemisphere's technology into its equipment, accelerating the development of a diverse range of precision solutions. By bringing Hemisphere GNSS's core satellite navigation technology in-house, CNH Industrial aims to provide customers with immediate benefits. Hemisphere GNSS, a US-based satellite company specializing in GNSS augmentation, brings valuable expertise and technology to further strengthen CNH Industrial's market position.
Major companies operating in the satellite-based global navigation satellite system (GNSS) augmentation system market report 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.
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.
The countries covered in the satellite-based global navigation satellite system (GNSS) augmentation system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The satellite-based global navigation satellite system (GNSS) augmentation system market consists of sales of correction signals, satellite-based augmentation system (SBAS) products, ground-based augmentation system (GBAS) products, and regional navigation satellite system (RNSS) products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Satellite-Based Global Navigation Satellite System (GNSS) Augmentation System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on satellite-based global navigation satellite system (GNSS) augmentation system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for satellite-based global navigation satellite system (GNSS) augmentation system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The satellite-based global navigation satellite system (GNSS) augmentation system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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