Market Overview
Market Research Future (MRFR) studied the global aerostat systems market across the assessment period 2023 to 2030. As per MRFR analysis, the aerostat system market can rise at 14.38% CAGR by 2030 and estimated to reach USD USD 29.84 billion by the end of the evaluation period. The rise of the global aerostat systems market can be attributed to their ease of deploying nature, following multiple applications. Low personnel expertise price and operational costs of aerostat systems can support the expansion of market in the years to come. The surge in demand for aerostat system for military and homeland security for surveillance, intelligence, and reconnaissance is observed to attract new investments.
In addition, aerostat systems are observed to be largely deployed in army program over UAVs. These causes are expected to contribute significantly to the rise of the market through the assessment period. The increase in the number of aerostat vendors can improve the market impetus. However, risk and challenges associated with overweight components, along with difficulties in software development can hinder the aerostat systems market outlook expansion. Aerostats are lighter than air vehicles, thus can encounter significant operational hazards. Visibility, lightning, and wind speed are some factors that can limiting aerostat system capabilities, interfere their adoption, thus resist the market expansion.
Competitive Landscape
Lockheed AUGUR - RosAeroSystems (Russia), Martin Corporation (U.S.), Raven Industries Inc. (U.S.), Lindstrand Technologies Limited (U.S.), Drone Aviation (U.S.), Aero Drum Ltd (U.K), RT LTA systems ltd (Israel), Raytheon Company (U.S.), TCOM L.P (U.S.), and ILC Dover (U.S.) among others are some reputed players in the aerostat systems market that are listed by MRFR.
Market Segmentation
The segment assessment of the global aerostat systems market is based on product type, class, and payloads.
The product type based segment of the aerostat system market are balloon, hybrid, and airship. The rise in deployment of airships can cause the aerostat system market to thrive.
The payloads based segment of the aerostat system market are radar, EO or IS, CI, thermal imaging camera, and INS. The expansion of radar segment can bolster the aerostat system market expansion.
The class based segment of the aerostat market are large-sized, mid-sized, and compact-sized class types. The large-sized segment can win substantial profit for the market.
Regional Analysis
Trends and regional factors impacting the global aerostat systems market share is studied across North America, APAC, EU, and the Rest of the World (RoW).
The expansion of North America aerostat system market can be attributed to the rise in military application of aerostat systems. The US to spearhead the market as a large number of aerostat marketers are present. The US military is also reputed for their hefty investment in innovations and development of aerostat systems that can aid in attaining optimal border surveillance and security. The incorporation of technologies, such as infrared images, wireless electronics, communication package, and advanced optics can bolster the expansion of the regional market through the analysis period. The US army also aid in intelligence systems and services to countries, such as Afghanistan. Enemy radio communication and the detection of their location are assisted by US military solutions. Thus, international trading of aerostat market can support the rise of the market across the review period. The expansion of aerostat system market in Europe and MEA can contributed largely to the increased need for national safety and hike in budget levels. In regions, such as UAE and Kuwait the military investment is rising that can favor the aerostat systems expansion.
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