Research Nester published a report titled “Satellite-based GNSS Augmentation System Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global satellite-based GNSS augmentation system market in terms of market segmentation by application, platform, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global satellite-based GNSS augmentation system market is estimated to grow at a notable CAGR of 7% over the forecast period, i.e., 2023 – 2035. The market is segmented on the basis of application into aviation, maritime, road & rail, and others, among which, the aviation segment is anticipated to hold the notable share over the forecast period. This can be attributed to the increasing concerns regarding civil aviation safety, along with rising use of GNSS for navigation of the aircrafts.
The global satellite-based GNSS augmentation system market is anticipated to witness growth on the back of growing global demand for positioning, navigation, and timing services, which are provided by GNSS augmentation system. Moreover, need for satellite-based navigation for traffic control, as well as, aviation services, is bound to boost the market growth. Along with this, the increasing government initiatives to promote satellite services, along with advancement in technology, are estimated to boost the market growth over the forecast period.
On the basis of geographical analysis, the global satellite-based GNSS augmentation system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period, on the back of the rapidly growing aviation industry, combined with the increased passenger in-flow in air transportation. Moreover, the presence of major market players in the region, along with adoption of advanced technologies, such as, GPS, is estimated to boost the market growth.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Supportive Government Policies to Promote GNSS Augmentation System to Boost the Market Growth
The United Nations Office for Outer Space Affairs (UNOOSA) established the International Committee on Global Navigation Systems (ICG) to allow a GNSS user to receive signals from multiple systems of satellites for navigating and positioning.
GNSS or global navigation satellite systems are used to facilitate the navigation and positioning services across the globe. As satellites provide precise locations, and real-time information, they are highly dependable. Such factors promote the investment in development of satellite systems, which is estimated to boost the market growth. Moreover, the government authorities across the world are focusing on adoption of advanced technology, which is further estimated to boost the market growth.
However, rising competition from SBAS system is expected to operate as key restraint to the growth of global satellite-based GNSS augmentation system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global satellite-based GNSS augmentation system market which includes company profiling of Airbus SE, Thales Group, Raytheon Company, Loral Space & Communications, Mitsubishi Motors Corporation, SkyTraq Technology, Inc., Honeywell International Inc., Universal Avionics Systems Corporation, and SES S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global satellite-based GNSS augmentation system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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