06-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Aerostat Market By Product Type (Airship, Hybrid, and Balloon), By Class (Large-Sized, Compact-Sized, and Mid-Sized), By Propulsion System (Unpowered and Powered), By Payload [Communication Intelligence, Surveillance Radar, Inertial Navigation System, Electro-Optic/Infrared Sensors (EO/IR), Electronic Intelligence, and Cameras], By Application (Commercial and Military), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global aerostat market in 2019 was nearly USD 6.7 Billion. The market is expected to grow at a CAGR of approximately 10% and is anticipated to hit USD 13 Billion by 2026.
Almost all the nations are engaged in strengthening their military forces, for which they have adopted cost-effective surveillance systems to identify, detect, and aim their target. This event is eventually propelling the global aerostat market. Owing to the growing activities by terrorists in the region, North America is at the leading position in deploying economical surveillance solutions. Moreover, the administration has invested millions & billions of dollars to enhance border security. Using the advanced surveillance systems, the defense department is able to trace the illicit entrance & exit from the regional premises. Surveillance involves a huge investment for collecting the intelligence-based information and transmitting it to the defense department. Operating a fleet of aircraft 24/7 for uninterrupted surveillance services is an expensive protocol and has some limitations as well, such as refilling of fuel, regular maintenance, and expertise pilots to operate the flight. Therefore, the military services have opted for aerostats, which can float in the air for longer durations using buoyant air.
Browse the full “Aerostat Market By Product Type (Airship, Hybrid, and Balloon), By Class (Large-Sized, Compact-Sized, and Mid-Sized), By Propulsion System (Unpowered and Powered), By Payload [Communication Intelligence, Surveillance Radar, Inertial Navigation System, Electro-Optic/Infrared Sensors (EO/IR), Electronic Intelligence, and Cameras], By Application (Commercial and Military), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-aerostat-market-by-product-type-airship-hybrid-666
The “airship” product segment will witness substantial growth in the global aerostat market during the study timeframe
Airships are capable enough to conduct surveillance operations in areas with poorly designed infrastructure. The vehicle, in the future, can be used as an effective means of transportation to deploy cargo or troops precisely at the targeted location. Hence, the growing adoption rate of airships in the coming years is likely to propel the segment at a considerable rate.
The powered propulsion system in the global aerostat market will probably register a remarkable CAGR in the coming years
The powered propulsion system segment is projected to generate revenue at a relatively faster rate owing to the significantly rising demand of the system across the globe. However, the demand for the unpowered aerostats is likely to surge owing to less fuel consumption and their versatility.
Some of the key players driving the global aerostat market are Rafael Advanced Systems, Augur Rosaerosystems, Lockheed Martin Corporation, Exelis, Hybrid Air Vehicles, TCOM L.P., Aeroscraft Corporation, Raytheon Company, Lindstrand Technologies, ILC Dover, Near Space Systems, Raven Industries, Allsopp Helikites, and RT LTA Systems Ltd., among others.
This report segments the global aerostat market as follows:
Global Aerostat Market: Product Type Segmentation Analysis
Global Aerostat Market: Class Segmentation Analysis
Global Aerostat Market: Propulsion System Segmentation Analysis
Global Aerostat Market: Payload Segmentation Analysis
- Communication intelligence
- Surveillance radar
- Inertial navigation system
- Electro-optic/Infrared sensors (EO/IR)
- Electronic intelligence
Global Aerostat Market: Application Segmentation Analysis
Global Aerostat Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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