This global market research report by Technavio segments the satellite-based augmentation system market by geography and includes key regions like the Americas, APAC, and EMEA. The top vendors analyzed in this report are Garmin, Raytheon, Rockwell Collins, Thales, and Universal Avionics.
Technavio’s market research analysts estimate the global satellite-based augmentation systems, to grow at a CAGR of around 5% between 2016 and 2020. The rising global demand for air transport is anticipated to bolster market growth as the rise in air traffic will result in the augmented demand for satellite-based augmentation systems. APAC leads the global market for satellite-based augmentation systems, occupying around 35% of the total market share. This region is expected to experience high air traffic during the forecast period, hence the transition from ground-based to satellite-based air traffic control (ATC) systems is anticipated to bolster market growth in this during the predicted period.
The new market research report from Technavio provides a breakdown and analysis of the satellite-based augmentation systems segments by technology.
“There is increase in the adoption of satellite-based navigation systems across the globe. Satellite-based augmentation systems use global positioning system (GPS) technology to shorten the routes. They also facilitate fuel saving, fewer traffic delays, and reduces the flight time because of direct routes. The International Civil Aviation Organization (ICAO) has initiated a global implementation plan for transition from ground-based to satellite-based systems,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
The recent growth in air traffic, both passenger, and cargo has resulted in the expansion and modernization of existing airports. The expansion and modernization of existing airports are expected to bolster the demand for an effective satellite-based augmentation system, which will aid in managing traffic and aircraft movement.
The key players dominating the global satellite-based augmentation systems include Garmin, Raytheon, Rockwell Collins, Thales, and Universal Avionics. This market is highly competitive due to the presence of strong rivalries among the existing players. To survive in this market, vendors have to distinguish their product and service offerings from the other competitors and have to win major deals in emerging and established markets.
A more detailed analysis is available in the Technavio report, Global Satellite-based Augmentation Systems 2016-2020.
We can customize reports by other regions and specific segments upon request.
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