Global Aerostat Systems Market, Industry Growth, Analysis, and Forecast To 2022 – by Credence Research
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 global aerostat systems market was valued at US$
3,758.9 Mn in 2014 and is estimated to expand with a CAGR of 12.9% from 2015 to
2022.
The
complete report is available at http://www.credenceresearch.com/report/aerostat-systems-market
Market Insights
Aerostat systems are airborne platforms that are designed to stay aloft for several days using a tethering cable. These systems gain the lift using various lighter-than-air (LTA) gases such as hydrogen, helium and hot air. Aerostat systems are equipped with different payloads, depending upon the application, such as surveillance radar, EO/IR imaging systems, communication relays and navigation systems. As of 2014, surveillance radar segment accounts for the largest share, in terms of revenue, of more than 40% of the global market. Nevertheless, with increasing adoption of aerostat systems in the wireless communication sector, the communication systems segment is estimated to register the highest growth in the coming years.
Based
upon the product class of aerostats, the market is segmented into small class,
medium class and large class aerostat systems. Currently, the medium class
aerostat systems segment accounts for the largest market share, in terms of
revenue, globally. These aerostat systems are fairly large and cheap and hence
are suited for most of the low-medium altitude applications. Hence, the segment
is expected to retain its dominant position in the market throughout the
forecast period. Nevertheless, large class aerostat systems segment is
projected to witness the highest growth in the coming years, globally. These
class of aerostat systems are capable of carrying large payloads and can be
operated at altitudes ranging up to 65,000 feet from the Earth’s surface.
Further, with emergence of projects such as the Project Loon and Internet.org
which intend to deliver wireless communication using high altitude aerostats,
the large aerostats segment is expected to witness high demand in the near
future.
Competitive
Insights:
The global aerostat systems market is consolidated in nature with few major companies dominating the global market. Major players in the market include TCOM L.P., Lockheed Martin Corporation, Raytheon Company, Raven Industries, Inc. and others. Most of these companies focus on acquiring government contracts for deployment of aerostat systems. Apart from this, these companies also focus on development of advanced fabric materials for better sustaining of aerostats in adverse weather conditions.
Key
Trends:
·
Development of high performance
fabrics for aerostats envelope
·
Focus on acquiring international
customers for aerostat systems
·
Development of high performance
aerostat systems suitable for operating in the high altitude category
·
Aerostat systems for various other
untapped applications such as time synchronization, satellite backup etc.
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