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According to the latest report by IMARC Group, titled “Aerostat Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global aerostat systems market size reached US$ 11.0 Billion in 2021. Aerostats are helium-filled, payload-carrying platforms that provide 24/7 aerial surveillance and communications. These platforms are tethered to the ground and exhibit low vibration characteristics that help in serving various purposes such as climate monitoring, communication cover and aerial surveillance. Earlier, hot air balloons and hydrogen airships and blimps were used to fulfill the purpose of airborne intelligence, surveillance, and reconnaissance (ISR). As compared to these earlier models, aerostat systems are larger, higher, and can withstand rougher weather conditions. In addition, they are safer, more durable and can carry advanced payloads, ranging from intelligence systems to communications sensors.
Global Aerostat Systems Market Trends:
Over the past decade, there has been a rise in the need for accurate geospatial information, which is driving the demand for aerostat systems across the globe. Also, a global increase in terrorist activities has led to a surge in the production of aerostat systems for control, communications, surveillance, command, intelligence, and reconnaissance applications. Other than this, manufacturers have also started introducing new integrated models of aerostat systems that offer a broad spectrum of advantages to consumers. For instance, in November 2018, Lockheed Martin, a US-based aeronautics products manufacturer, completed the integration of a Telephonics RDR-1700B radar onto a 74K aerostat for various missions related to land and sea. Moreover, TCOM, L. P. developed a 28M Operational Class Aerostat persistent surveillance solution in 2018 that can help in detecting and tracking targets in any terrain. Looking forward, the market is anticipated to expand at a CAGR of 12.9% during 2022-2027, reaching a value of US$ 23.0 Billion by 2027.
Market Summary:
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