The global aerostat systems market is increasing at a continuous pace owing to a vast pool of factors. This includes the easy to deploy nature, its wide range of applications, cost-effectiveness, low personnel expertise, and low operational costs. It is reported that there is a strong demand from homeland and military security for intelligence, surveillance, and reconnaissance, thereby leading to new investments. The aerostat systems that are used in the US army program named as persistent ground surveillance system has a low operating cost as compared to using UAV. This is expected to contribute to the overall growth of the market. In recent years, it has been noticed that vendors are facing high level of acquisition risk owing to challenges like overweight components and difficulties in software development.
Global
aerostat systems market
Due to aerostats being lighter than air vehicles, they face
significant operational hazards. Lightning, visibility, and wind speed are some
of the major factors limiting the capabilities of the aerostat system market.
In a study undertaken by the team of Market Research Future
(MRFR), it was revealed that the global aerostat systems market is expected to
grow notably during the forecast period between 2017 and 2023. The
report states that the global market will garner a compound annual growth rate
of 13% during the mentioned review period.
Regional Analysis
The global aerostat systems market is regionally distributed
across the following regions: North America, Europe, Asia Pacific, and the Rest
of the World (RoW).
The regional market is spearheaded by the North American
region. Back in 2015, the region held more than 50% of
the global share and cemented itself as the leading regional player in the
aerostat systems market. The region is further expected to witness considerable
growth over the forecast period due to the presence of USA therein. Being the
largest military powerhouse in the world, the US is investing immensely in
aerostat systems for the purpose of attaining optimal border security and
surveillance. The US defense aims to strikingly enhance systems wherein new
technologies like wireless electronics, infrared images, advanced optics, and
communication package are used. The US army even provides intelligence systems
to countries like Afghanistan. This enables the soldiers to hear out the enemy
radio communication and detect the location of the enemy.
The growth in the Europe and Middle East & Africa region
is primarily contributed by the Middle East region. This is due to the
continuous need for the safety of the nation and the increasing budget levels.
UAE and Kuwait and other gulf states have invested in aerostat systems in order
to monitor borders and airspaces.
Market Segmentation
The global aerostat systems market segmentation is done in
terms of class, product type, and payloads.
By product type, the market includes hybrid, balloon, and
airship.
By payloads, the market segments into radar, EO/IS, thermal
imaging camera, CI, and INS.
By class, the market comprises mid-sized, large-sized, and
compact-sized class types.
Competitive Landscape
The global aerostat systems market includes a host of
prominent players, including Lockheed Martin Corporation (U.S.), AUGUR
- RosAeroSystems (Russia), Lindstrand Technologies Limited (U.S.), Aero Drum
Ltd (U.K), Raven Industries Inc. (U.S.), Drone Aviation (U.S.), RT LTA systems
ltd (Israel), TCOM L.P (U.S.), Raytheon Company (U.S.), ILC Dover (U.S.) and
others. The players in the market are springing out new strategies and
investing in research and development activities to strengthen their
positioning in the global landscape or to edge past their immediate
competitors. The players are expected to continue applying their strategies and
contribute to the overall welfare of the aerostat systems market.
Complete Report Details @ https://www.marketresearchfuture.com/reports/aerostat-systems-market-1302
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