The paper presents a modified algorithm for determining the accuracy parameter of the system for differential corrections and monitoring (SDCM) navigation solution in air navigation. For this purpose, a solution to determine the resultant accuracy parameter was proposed by using two on-board global navigation satellite system (GNSS) receivers. The mathematical algorithm takes into account the calculation of a single point positioning accuracy for a given GNSS receiver and a weighting factor combining the position error values. The weighting factor was determined as a function of the number of tracked GNSS satellites used in the SDCM single point positioning solution. The resultant accuracy parameter was expressed in ellipsoidal coordinates BLh (B—latitude, L—longitude, h—ellipsoidal height). The study used GNSS kinematic data recorded by two on-board receivers: Trimble Alloy and Septentrio AsterRx2i, located in a Diamond DA 20-C1 aircraft. The test flight was performed near the city of Olsztyn in north-eastern Poland. Calculations and analyses were performed using RTKLIB software and the Scilab environment. On the basis of the performed tests, it was found that the proposed algorithm for SDCM system allows for improvement in the determination of the resultant accuracy value by 56–80% in relation to the results of position errors from a single GNSS receiver. Additionally, the proposed algorithm was tested for the European Geostationary Navigation Overlay Service (EGNOS) system, and in this case, the improvement in the accuracy parameter was even better and was in the range of 69–89%. The resulting SDCM and EGNOS positioning accuracy met the International Civil Aviation Organization (ICAO) certification requirements for SBAS systems in air navigation. The mathematical algorithm developed in this work was tested positively and can be implemented within the SBAS augmentation system in air navigation.