The global aerostat systems market size reached a value of US$ 5.5 Billion in 2018. Aerostats are low-level airborne systems that are used for ground supervision. They are made of large fabric envelops filled with helium or hot air and have an optimal reach of around 4,600 m in height. Aerostat systems are considered suitable for elevating light payloads and are generally used in the form of tactical airborne platforms for radar systems, cameras and communication equipment along with other scientific equipment. These systems are designed and manufactured according to the specific parameter requirements such as operating temperature, wind speed, altitude and payload carrying capacity. Looking forward, IMARC Group expects the market to reach a value of US$ 10.3 Billion by 2024, registering a CAGR of around 11% during 2019-2024.
Global Aerostat Systems Market Drivers:
- Aerostat systems are used for a wide variety of applications including information gathering, surveillance and scientific research. They are cost-effective, durable and eco-friendly as well as have high structural integrity. These are some of the features which are expected to augment the demand for these systems across the globe.
- Over the past few years, there has been a rise in the number of investments made by manufacturers for R&D activities. These investments are aimed to improve the functioning of aerostat systems in adverse environmental conditions such as extreme cold or heat.
- There are numerous organizations which have started employing intelligent video surveillance systems owing to several advantages offered by them, such as object recognition and video analytics. Other than this, the demand for high-quality aerostat systems has also escalated on account of rising territorial disputes in regions like Asia Pacific.
- Governments across the globe have started promoting the utilization of aerostat systems for different military applications which include reconnaissance and border security. Additionally, these systems are increasingly being used for communicating signs that indicate natural disasters, civil unrest and crimes within a country.
Historical, Current and Future Market Trends
Breakup by Payload:
- Surveillance Radar
- Inertial Navigation System
- Thermal Imaging Camera
- Electro-Optical Sensor
- Electronic Intelligence
- Communication Intelligence
Breakup by Sub-System:
- Ground Control Station (GCS)
Breakup by Product Type:
Breakup by Propulsion System:
- Powered Aerostats
- Unpowered Aerostats
Breakup by Class:
- Compact-Sized Aerostats
- Mid-Sized Aerostats
- Large-Sized Aerostats
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
The report has also analysed the competitive landscape of the market with some of the key players being Aerostar International, Inc., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corporation., RosAeroSystems, International Ltd., RT Aerostat Systems Inc., TCOM L.P., Worldwide Aeros Corporation, Raytheon Company, Rafael Advanced Defense Systems Ltd, etc.
Key Questions Answered in This Report:
- How has the global aerostat systems market performed so far and how will it perform in the coming years?
- What are the key regional markets in the industry?
- What is the breakup of the global aerostat systems market based on the payload?
- What is the breakup of the global aerostat systems market based on the sub-system?
- What is the breakup of the global aerostat systems market based on the product type?
- What is the breakup of the global aerostat systems market based on the propulsion system?
- What is the breakup of the global aerostat systems market based on the class?
- What are the various stages in the value chain of the global aerostat systems industry?
- What are the key driving factors and challenges in the global aerostat systems industry?
- What is the structure of the global aerostat systems market and who are the key players?
- What is the degree of competition in the global aerostat systems market?