The global automatic dependent surveillance (ADS-B) market size is expected to reach USD 2,877.5 million by 2028 from USD 901.7 million in 2021, exhibiting a CAGR of 18.03% during the forecast period. The growing development of lightweight, small, and cost-effective automatic surveillance-broadcast transceivers for unmanned aerial vehicles will have a tremendous impact on the automatic dependent surveillance-broadcast market growth in the forthcoming years, states Fortune Business Insights™, in its report, titled “Automatic Dependent Surveillance-Broadcast (ADS-B) Market, 2021-2028.” The market size stood at USD 847.9 million in 2020.
The Report Lists the Key Players in the ADS-B Market:
- Aspen Avionics, Inc. (U.S.)
- Avidyne Corporation (U.S.)
- Collins Aerospace (U.S.)
- FreeFlight Systems (U.S.)
- Garmin Ltd. (Switzerland)
Driving Factor:
Expansion of Airports to Incite Business Development
The growing demand for unmanned aerial vehicles (UAV) propels the market growth. An increase in air passenger travelers has resulted in high demand for commercial aircraft, which, in turn, will aid the expansion of the automatic dependent surveillance-broadcast market. Moreover, the development of new airports, especially in Asia Pacific, will spur opportunities for the market. Five international airports opened in Vietnam, Israel, China, Turkey, and the U.S. in 2019. Furthermore, the Indian government announced to build 100 airports by 2024 and allocated USD 23.7 billion in the financial year 2020-2021. Thus, increasing spending in the aviation sector across the globe boosts the Automatic Dependent Surveillance broadcast market growth.
Regional Insights:
Rising Urbanization to Augment Growth in North America
In 2020, North America led the Automatic Dependent Surveillance market share worth USD 295.5 million. North America's supremacy is attributed to the existence of several airports, a thriving aviation sector, and the greatest number of air travelers. Furthermore, from January 1, 2020, all aircraft flying in the United States must be outfitted with the aircraft surveillance system, according to the FAA.
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