Global Aerostat Systems Market to reach USD 25.40 billion by 2027.Global Aerostat Systems Market is valued approximately at USD 9.5 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 15.10% over the forecast period 2021-2027. Aerostats are frequently utilized as an aerial framework for a variety of scientific and commercial purposes. Military forces employ them for intelligence, surveillance, identification (ISR), and citizen observation. Aerostats are ellipsoidal, and ambient winds cause a large horizontal displacement. The horizontal displacement is greater when the drag force pressing on the aerostat is strong. The market is driven by the key factors such as Increasing Focus on Using Economical Solutions for Surveillance and Increasing Ability of Aerostats to Provide Persistent Surveillance for A Longer Duration. For instance, The US Department of Homeland Security granted Peraton a USD 277.5 million contract for Tethered Aerostat Radar Systems (TARS) for low-range border and marine surveillance activities in February 2020. Raven Industries was also awarded a USD 10.4 million contract in 2019 to deliver its TIF-25K aerostat systems in Afghanistan. On the other hand, the market is projected to be driven by current pilot programmes that attempt to assess the utility of aerostats in diverse tasks. DARPA showed in October 2019 that it will be testing drone tracking technology with sensor-based aerostats. However, Payload Related Restrictions, may impede market growth over the forecast period of 2021-2027.
Geographically, North America is dominating the market of Aerostat Systems factors towards the growth of region are rising government investment in defence sector and increase in collabration with telecommunication service providers to enhance telecommunication network. Such developments are expected to propel the growth of the aerostat market in North America during the forecast period 2020-2027.
Major market player included in this report are:
Israel Aerospace Industries Limited
TCOM LP
Allsopp Helikites Limited
Lindstrand Technologies Limited
RosAeroSystems
Worldwide Aeros Corp.
Airborne Industries
RT LTA Systems Ltd
Raven Aerostar
ILC Dover LP
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Military and Law Enforcement
Commercial and Research
By Product:
Balloon
Airship
Hybrid
By Class:
Compact-sized
Mid-sized
Large sized
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Aerostat Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
