The satellite-based augmentation systems market is segmented by application (aviation, maritime, and others), type (WAAS, EGNOS, MSAS, and Others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The adoption of big data analytics is the major satellite-based augmentation systems market trend which will positively influence the market value.
The satellite-based augmentation systems market share will value over USD 169.15 million by 2027
It is estimated to expand at a CAGR of 4.53% from 2022 to 2027
The satellite-based augmentation systems market size will witness a YOY growth rate of 4.17% in 2023
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The adoption of big data analytics is an emerging trend in the market. The use of big data analytics improves decision-making, as it gives information accurately and identifies the actual cause of a problem. The effective utilization of the data generated by military GNSS devices can help military agencies take necessary action on a real-time basis. Such developments are expected to drive the growth of the global SBAS market during the forecast period.
The growing demand for unnamed platforms is notably driving the market growth. Improvements in the capabilities of UCAVs have increased their use in the defense sector. Most unmanned platforms, ranging from drones to autonomous vehicles, use GPS and advanced mapping systems. Hence, the rising use of electronic welfare (EW) as a strategy is expected to increase the need for the integration of UAVs with advanced GPS and mapping systems
Some of the major satellite-based augmentation systems market vendors are:
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Spectrum management is the major hindrance for market players
The satellite-based augmentation systems market structure is concentrated in nature.
44% of satellite-based augmentation systems market growth will develop from North America.
The market growth in the aviation segment will be significant during 2023-2027.