Aerostat System Market Size, Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
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According to a new market research
report published by Credence Research, Inc. “Aerostat Systems Market (Communication
Systems, Surveillance Radar, Electro-optical/Infrared (EO/IR) Systems and
Navigation Systems) - Growth, Share, Opportunities, Competitive Analysis and
Forecast 2015 - 2022”, the aerostat systems market is majorly driven by their
numerous competitive advantages over other unmanned aerial platforms. The
aerostat systems are among the cheapest alternatives for applications such as
surveillance, communication and navigation. Due to convenient and persistent
operation offered by these systems, most of the nations are now increasingly
shifting towards aerostat systems for various applications.
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The global market for aerostat
systems, as of 2014, was dominated by the medium class aerostat systems
accounting for more than fifty percent of the total market revenue. Medium
class aerostat systems are the most suitable types for nearly all of the low
and medium altitude applications. Due to increasing penetration of these
systems for surveillance and electronic intelligence gathering, the segment is
anticipated to hold its dominant position in the coming years.
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Further, on the basis of payloads,
the global aerostat systems market is dominated by the surveillance radar
segment. In 2014, the segment contributed to over 43% of the total revenue
generated worldwide. Due to high investment from the defense sector over
surveillance radar systems, the segment is estimated to retain its dominant
position throughout the forecast period in the market. Nonetheless, the market
for communication systems segment is expected to witness the highest growth during
the forecast period. Aerostat systems are already being used for delivering
high speed wireless communication. The adoption of aerostat systems is expected
to soar substantially in the coming years thereby fueling the demand for
aerostat communication systems.
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On the basis of application, the
defense sector accounted for the largest market share, in terms of revenue, of
over 51% in 2014. The aerostat systems are popular in defense sector for
persistent surveillance across border. So as to maintain order and security at
international borders, the defense expenditure on aerostat systems is estimated
to remain strong in the coming years. Thus, the defense segment is expected to
hold its dominant position in the market throughout the forecast period.
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The aerostat systems market is highly
consolidated as well as competitive in nature. Few major companies such as TCOM
L.P., Lockheed Martin Corporation, Raytheon Company, Aerostar International,
Inc. (Raven Industries, Inc.) and Israel Aerospace Industries Ltd. contribute
to more than 50% of the total market revenue. Majority of these companies focus
on acquiring government contracts for deployment of aerostat systems. By far,
the U.S. government is the largest consumer for aerostat systems globally.
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