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The global aerostat systems market was valued at US$ 9.7 Billion in 2020.
We expect the global aerostat systems market to exhibit a CAGR of 13.2% during 2021-2026.
The widespread applications of aerostat systems, including information gathering, and surveillance and scientific research activities, are primarily driving the global aerostat systems market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting halt in manufacturing units and delay in R&D activities.
Based on the payload, the global aerostat systems market can be segmented into surveillance radars, inertial navigation systems, thermal imaging cameras, electro-optical sensors, electronic intelligence, and communication intelligence. Currently, surveillance radars hold the majority of the total market share.
Based on the subsystem, the global aerostat systems market has been segregated into aerostat, ground control station (GCS), and payload, where payload currently represents the largest segment.
Based on the product type, the global aerostat systems market can be categorized into balloon, airship, and hybrid. Among these, balloon currently exhibits a clear dominance in the market.
Based on the propulsion system, the global aerostat systems market has been segmented into powered aerostats and unpowered aerostats. Currently, unpowered aerostats represent the largest segment.
Based on the class, the global aerostat systems market can be divided into compact-sized aerostats, mid-sized aerostats, and large-sized aerostats. Amongst these, compact-sized aerostats currently account for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global aerostat systems market include 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.
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