According to Stratistics MRC, the “Global Aerostat Systems Market” is accounted for $6.24 billion in 2017 and is expected to reach $29.12 billion by 2026 growing at a CAGR of 18.7% during the forecast period. Some of the key factors propelling market growth are the ability to provide vital geospatial evidence, increasing focus on using economical solutions for surveillance. However, due to lack of awareness among farmers and forage manufacturers and basic supporting infrastructure is hampering the market growth. Furthermore, the use of aerostats in coordinating missile defense acts as a future growth opportunity for the market.
Request for sample here: “Global Aerostat Systems Market”
The aerostat is an aerodynamically shaped tethered balloon containing a lighter than air gases which including helium, hydrogen, and hot air gases—that generate a bulk of the lifting force. Aerostats are used extensively as an aerial platform for several scientific and commercial applications. They are used by military forces for intelligence, surveillance, and reconnaissance (ISR) and also in civilian observation. Aerostats are ellipsoidal, due to which they suffer from a large amount of horizontal displacement due to ambient winds. If the drag force acting on aerostat is high, its results in a higher horizontal displacement, a longer tether is required to retain the specified operating altitude, which reduces payload carrying capacity.
Opportunity: The growing application of aerostat systems would provide ample opportunities for market growth.
Aerostat has a wide range of applications in the commercial and military forces. The operating cost associated with aerostat is low when compared with unmanned aerial systems which are expensive and have limited endurance. Aerostat requires less crew for its process and also the maintenance is less since it has less mechanical parts. The versatility of applications provided by aerostat is producing the demand for persistent ISR and also for the homeland security which is creating opportunities for the market. Aerostat systems are used for a extensive variety of applications including information gathering, observation and scientific research. They are cost-effective, strong and eco-friendly as well as have huge structural integrity. These are some of the features which are expected to augment the opportunities for these systems across the globe. Governments across the globe have started promoting the utilization of aerostat systems for diverse military applications which include inspection and border security.
Request for customization here: “Global Aerostat Systems Market”
Driver: The rapid adoption of sensor fusion technology is driving market growth.
The increase in adoption of sensor fusion technology is anticipated to further boost the growth of the aerostat systems market. This technology leads to an assortment of advanced sensors which can swiftly and efficiently process data with the help of onboard software support. The deployment of this technology further eliminates the need for employing additionally trained professionals for data parsing and reduces the time consumed for the transition of raw data into actionable information. The rising adoption of sensor fusion technology in aerostat systems, coupled with the wide application of aerostats will drive the market during the forecast period.
North America region is anticipated to hold considerable market share during the forecast period:
By geography, the North America region is anticipated to hold considerable market share during the forecast period. North America is anticipated to dominate the aerostat systems market because of its acceptance and widespread use in the application of the law. There has been a growing inclination in the use of aerostat systems in the region of the United States for surveillance purposes. Aerostat systems, such as connected aerospace radar systems (TARS), are increasingly being used by the US Department of Defense. Besides, the US Army relies heavily on aerostat systems, such as the Persistent Threat Detection System (PTDS), to provide soldiers with intelligence, surveillance, reconnaissance, and long-range communications.
Some of the key players in Aerostat Systems market include Lockheed Martin Corporation, Allsopp Helikites Ltd, RosAeroSystems, International Ltd, Israel Aerospace Industry, Raytheon Company, Lindstrand Technologies Ltd, Aeros Aerostat, Aerostar International Inc, RAVEN Inc., ILC Dover, L.P, Tcom L.P, Exelis Inc., Drone Aviation, Hybrid Air Vehicles Limited, and Aero Drum Ltd.
For more information fill in the Inquiry form at: “Global Aerostat Systems Market”
Lockheed Martin Corporation: In May 2020, Lockheed Martin Corporation delivered the first KC-130J Super Hercules tanker. The KC-130J is one of nine production variants of the C-130J Super Hercules, the current production model of the legendary C-130 Hercules aircraft. With 460+ aircraft delivered, the C?130J is the airlifter of choice for 20 nations.
Raytheon Company: In March 2020, Raytheon Company collaborated with National Radio Astronomy Observatory to detect and characterize near-earth asteroids large enough to cause significant damage. This approach increases the probability of detection and characterization of objects out to the orbit of Jupiter and possibly farther. To put this in perspective, objects around Mars are hard to detect, and Jupiter is hundreds of millions of miles farther than that.
About Stratistics MRC:
Stratistics MRC Pvt Ltd. is a market research firm serving the fortune 500 companies across the world with market intelligence. We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends. Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.
We have a core research team with research analysts across the industry verticals to serve our varied customers such as technology suppliers, manufacturers, distributors, end-users, consulting companies, investment firms and research institutes. We ensure that our research reports, white papers, policy briefs provide result-oriented findings and recommendations. Our research reports help you to make better decisions in building the organization present in a global scenario. Our consultancy services offer you with the highly qualified professional research team to match your research needs. We are in the process of addressing the challenges of our clients and able to deliver the quality outputs to meet their business objectives and goals in a potential way. We invest more in building our teams and enhance our client relationships across the geographies where we work.