With the recent missing airliner for more than a month, my thought processes made me to think for a while for a solution to identify such incidents within no time, however, there is a lot of cost involved in it.
            We will need few beacons running on solar power spread across the oceans every 5-10 kilometers.
1) purpose of beacons: to identify if any object is in between the monitoring satelite and ocean
2) the satellite will be sending signals continously to EARTH, beacns capture and respond to satellite's signals
3) anytime if a signal is lost, it can be identified that some object is in between the satellite and the beacon
4) based on the beacon's position which didnt respond we can pin point to the place on the ocean for coordinates
5) the direction of flight can be tracked by next beacons' coordinates very easily
6) Each beacon will communicate to the near by beacon , this is to ensure the position on ocean
7) beacons should float on ocean's surface
8) the position of beacon can be hard coded to the memory chip

Improve Improve Improve

One of my friends' gave an example of 'why did the US invest few billion $$$ to write in space, while sharing this thought, and thought of posting...though costly, this will save few man hours for sure.