The report, now available on ASDReports, "Automatic Dependent Surveillance Broadcast (ADS-B) Market by Type (On-Board, Ground Stations), Fit (Line, Retrofit), Platform (Fixed, Rotary), Component (Transponder, Receiver), Application (TMA, Airborne Surveillance), and Region - Global Forecast to 2022", The Automatic Dependent Surveillance-Broadcast (ADS-B) market is projected to grow from USD 427.8 Million in 2016 to USD 1,316.9 Million by 2022, at a CAGR of 20.61% during the forecast period.
Increase in airspace congestion, the need for an efficient surveillance system, and collective efforts undertaken to reduce fuel emission are factors anticipated to drive the ADS-B market. Furthermore, modernization of existing airports and construction of new Greenfield airports are additional factors propelling the growth of the ADS-B market.
Among types, the ADS-B Out segment is projected to lead the ADS-B market during the forecast period
Based on type, the ADS-B Out segment accounted for the largest share of the ADS-B market in 2016. Increasing air traffic and airspace congestion, and the growing need for advanced aerospace capabilities are major factors contributing to the growth of the ADS-B Out segment of the ADS-B market.
Based on component, the receiver segment of the ADS-B market is projected to grow at the highest CAGR from 2016 to 2022
Based on component, the ADS-B market has been segmented into transponder, receiver, antenna, ADS-B ground receivers, and others. The receiver segment is projected to grow at the highest CAGR from 2016 to 2022. Increasing demand for receivers is attributed to the rise in ADS-B In application by aircraft operators. Appropriate receivers onboard offer potential benefits across all domains of flight, from departure to arrival, and help aircraft operators access pilot cockpit advisory services, such as Flight Information Service-Broadcast (FIS-B) and Traffic Information Service-Broadcast (TIS-B).
North America is projected to lead the ADS-B market during the forecast period
North America is expected to lead the ADS-B market from 2016 to 2022, owing to the mandate issued by the Federal Aviation Administration (FAA), which states that all aircraft flying in the U.S. airspace should be equipped with an ADS-B Out before January 01, 2020. This serves to be a major driver propelling the growth of the ADS-B market in this region. North America is also focusing on the implementation of ADS-B to make air travel safer, thereby driving the growth of the ADS-B market in North America.
Honeywell International, Inc. (U.S.), L3 Technologies, Inc. (U.S.), Esterline Technologies Corporation (U.S.), Garmin Ltd. (Switzerland), Rockwell Collins, Inc. (U.S.), Indra Sistemas, S.A. (Spain), Harris Corporation (U.S.), Thales Group (France), Avidyne Corporation (U.S.), and Trig Avionics Ltd. (U.K.), among others are key players operating in the ADS-B market.
Source: ASDReports - Market Research
Date: Mar 30, 2017