[Satnews] Research and MarketsÂ forecasts that the global satellite-based augmentation system market will grow at a CAGR of 5.2 percent during the period 2016-2020.
Along with the modernization of airports and upgrade from ground-based to satellite-based systems, aircraft also need to be retrofitted with new ATC equipment. Considering the large fleet of aircraft already in operation globally, retrofitting of aircraft for new ATC equipment will likely propel the global satellite-based augmentation system market in the future as well.
According to the report, it is necessary to maximize the utilization of the available airspace in a safe and efficient manner. The aviation industry requires substantial investment and improvement in ATC systems. There have been several such activities worldwide in the upgrade of ATC infrastructure. Such efforts have helped the growth of the global satellite-based augmentation system market.
Further, the report states that the high cost of acquisition and the maintenance of a modern ATC system is one of the hurdles for the wide-scale implementation of satellite-based augmentation systems.
Key questions answered in this report:
â€¢ What will the market size be in 2020 and what will the growth rate be?
â€¢Â What are the key market trends?
â€¢Â What is driving this market?
â€¢Â What are the challenges to market growth?
â€¢Â Who are the key vendors in this market space?
â€¢Â What are the market opportunities and threats faced by the key vendors?
â€¢Â What are the strengths and weaknesses of the key vendors?
â€¢Â Rockwell Collins
â€¢Â Universal Avionics