High Altitude Platforms Market Forecasts to 2028 – Global Analysis By Type (Airships, UAV and Others), Payload (Communication, Navigation and Others), End User (Commercial, Government & Defense and Others) and By Geography
According to Stratistics MRC, the Global High Altitude Platforms Market is accounted for $3.10 billion in 2020 and is expected to reach $5.65 billion by 2028 growing at a CAGR of 7.8% during the forecast period. The rise in the expenditure on surveillance systems and growing defense expenses are the major factors propelling the market growth. However, high costs and poor technological infrastructure is hampering the market growth.
High altitude platforms are structures equipped with different payloads for varied applications such as communication, environmental monitoring, surveillance, and navigation. These are positioned in the stratosphere, which is at a much higher altitude than the atmospheric layer where commercial aircraft operate.
Based on the end user, the government & defense systems segment is estimated to have a huge demand during the forecast period. Governments are massively investing in the high-altitude platform's market to upscale the technological infrastructure. These high-altitude platforms allow governments to create navigation systems, surveillance systems, and communication systems for the military.
By geography, North America is going to have lucrative growth during the forecast period. Improved adoption and penetration of UAV aircraft in the region by various governmental and private organizations are driving the market growth. Furthermore, increased adoption for military purposes by countries like U.S. and Canada is increasing the investments inflow.
Some of the key players profiled in the High Altitude Platforms Market include AIRBUS SAS, Aeros, AeroVironment, Inc., Avealto Ltd., ILC Dover LP, Israel Aerospace Industries (IAI), Lindstrand Technologies Limited, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raven Industries, Inc., Raytheon Technologies Corporation, Tcom L.P., and Thales Group.
• Tethered Aerostat Systems
• Unmanned Aerial Vehicles (UAV)
• Electro-Optical/Infra-Red (EO/IR) Systems
End Users Covered:
• Government & Defense
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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