Scope of the Study
The global aerostat systems market is expected to witness significant growth during the forecast period, according to the AMA study. The rising adoption of eco-friendly technologies for surveillance and intelligence operations and the growing adoption of aerostat systems for different military operations propelled by increasing military expenditure across different countries of the world are some of the major factors aiding into the growth for the market.
The market study is being classified by Type (Balloon, Airship and Hybrid), by Application (Intelligence, Reconnaissance, & Surveillance, Navigation, Communication, Electronic Intelligence and Others) and major geographies with country level break-up.
Lockheed Martin Corporation (United States), Raytheon Company (United States), Aeros (United States), Israel Aerospace Industries (Israel), Cameron Balloons Ltd. (United States), Aero Drum Ltd (Serbia), RT LTA Systems (Israel), TCOM, L.P. (United States), Raven Industries (United States), RosAeroSystems (Russia), ILC Dover LP (United States), L3Harris Technologies, Inc. (United States) and Drone Aviation (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on development of aerostat systems in order to remain competitive in the global market. For instance, in November 2018, RT LTA Systems announced that it has introduced its new SkyStar 120, a micro-tactical aerostat system designed to provide commanders in the field with real-time reconnaissance capability, even when operating in rough terrain. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aerostat Systems market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Aerostat Systems market by Type, Application and Region.
On the basis of geography, the market of Aerostat Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Adoption of Eco-Friendly Technologies for Surveillance and Intelligence
- Growing Adoption of Aerostat Systems for Different Military Operations Propelled by the Rising Military Expenditure across Different Countries
- Technological Advancements such as Increased Range for Communications
- Adoption of Aerostat Systems for Power Generation Through Solar Technologies
- Regulations Regarding the Use of Aerostats at Limited Altitude & Payloads
- Growing Military Expenditure Propelling the Adoption of Aerostat Systems for Missile Defense Operations
- Safety, Security, and Privacy Concerns of Flight
Market Leaders and their expansionary development strategies
In July 2019, Harris Corporation and L3 Technologies combinely announced that they have completed all stock merger between both the companies and now known as L3Harris Technologies Inc.
In September 2019, the Drone Aviation Holding Corp. announced that it has delivered additional Winch Aerostat Small Platform ("WASP") systems to a prime contractor partner in support of the United States Border Patrol (USBP) and the U.S. Customs & Border Protection
Payload Capacity Regulations and Regulations Over Operational Altitudes
The development & innovation in aerostat technologies is expected to boost the demand for aerostat systems during the near future. For instance, in October 2017, RT LTA Systems introduced the new capabilities of the company’s Skystar 100 unmanned aerostat at the AUSA (Association of the United States Army) Annual Meeting 2017.
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