The global satellite-based augmentation systems (SBAS) market is projected to experience significant growth between 2023 and 2030. SBAS systems are geosynchronous satellite systems that enhance accuracy, integrity, and availability of SBAS signals. These systems provide wide-area corrections for range errors, quickly detect satellite signal errors, and transmit ranging signals. The market is expected to witness a CAGR of 4.9% during the forecast period.
Europe currently dominates the SBAS market with a share of approximately 35%, followed by North America with a share of 25%. The top five global manufacturers of SBAS systems, including Thales, Raytheon Company, Mitsubishi, Airbus, and SES, account for around 80% of the market share. In terms of product types, WAAS holds the largest market share at approximately 30%. The aviation industry is the largest application segment, followed by maritime, road, and rail.
The factors driving the growth of the SBAS market include growing demand for aviation, maritime, road, and rail applications worldwide. The adoption of SBAS systems by key players in these industries is propelling market growth. Furthermore, the market size estimations took into consideration the impact of COVID-19 and the Russia-Ukraine war.
The SBAS market is divided into different regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. These regions are leading the market due to the increasing demand for SBAS systems in various industries.
The market report also provides answers to several important questions related to the global SBAS market. It discusses the global trends, estimated demand for different product types, projections for the industry, strategic developments, factors contributing to the final price of SBAS systems, market worth, major players, and recent industry trends.
The impact of the COVID-19 pandemic on the SBAS market has been analyzed in the report. The document outlines the size, trends, and growth of the market in the SBAS industry. It also highlights the key influencers and barriers to entry in the market.
In conclusion, the SBAS market is anticipated to witness substantial growth in the coming years. The increasing adoption of SBAS systems in various industries, coupled with technological advancements, will drive market expansion.