Transmission Characteristics
Most beacons operate in continuous wave (A1A) and transmit their identification (call sign and location). Some of them send long dashes to facilitate signal strength measurement. A small number of beacons transmit Morse code by frequency shift keying (F1A). A few beacons transmit signals in digital modulation modes, like radioteletype (F1B) and PSK31 (G1B).
Read more about this topic: Radio Propagation Beacon