Global Aerostat Systems Market: Snapshot
Aerostat systems hold a large number of advantages over surveillance drones and aircrafts. The primary advantage that they have is the considerably lower cost of operations. Aerostat systems are easier to assemble and deploy, making them more effective in a lot of situations where time is of essence. Furthermore, they take far less in terms of fuel consumption and maintenance. This provides aerostat systems with the massive advantage of being airborne for longer periods between refuels and maintenance. Additionally, aerostat systems possess a great load bearing capacity. Most large aerostat systems can carry payloads of up to five tons.
At the same time, users are demanding surveillance crafts that are not only persistent, but also efficient. The former advantage is apparent in aerostat systems due to their ability to stay operations for longer periods. Future opportunities in aerostat systems can be derived through the use of modern materials. For instance, several companies are developing their own high quality laminates that can allow an aerostat system to operate in unfavorable weather.
All in all, the global market for aerostat systems is expected to expand at a CAGR of 13.8% in terms of revenue, from 2015 to 2022. This revenue is expected to reach US$4.64 bn by the end of 2016 and US$10.10 bn by the end of 2022.
An exceptionally high demand for aerostat systems by the U.S. homeland security and military have imparted a considerable dominance of North America over this global market. The commercial penetration of aerostat systems is also very high in this region, further consolidating its position as the regional leader in aerostat system consumption.
Europe is also expected to show a high demand for aerostat systems owing to border conflicts between several countries within the region, including Poland, Greece, and Portugal. Their demand to maintain border peace is expected to impact the production of aerostat systems considerably well. Similar demand growth rates are visible in Asia Pacific due to increased investment in surveillance by defense bodies.
Surveillance Radar to Remain Key Payload Type for Aerostat Systems
Surveillance radars that are commonly used for detecting objects ranging from aircrafts, ships, and landscape impedances are the most commonly used payloads in aerostat systems. Defense and military bodies make the most use of these payloads and consequently provide the bulk of the demand for aerostat systems in a very consistent manner. The future of aerostat systems is also expected to find a dominant demand for aerostat systems for the same reasons. Threat detection is a persistent efforts and defense bodies therefore require systems that can provide constant surveillance measures.
By the end of 2022, 69.4% of the total demand for aerostat systems will come from the military sector. The military uses aerostat systems for surveillance of not only national borders, but also within the country for signs of natural disasters, crimes, and civil unrest. This boosts the rate of communication of such events and can therefore help the military deal with these situations in a timely manner.
The top providers of aerostat systems on a global scale include Lockheed Martin Corporation, Aerostar International, Inc., TCOM, LP, Lindstrand Technologies Ltd., RosAeroSystems International, Ltd., ILC Dover LP, RT Aerostat Systems, Inc., Worldwide Aeros, Corporation, and Israel Aerospace Industries
This report aims to provide a comprehensive strategic analysis of the global aerostat systems market along with the market size and growth forecast for the period from 2012 to 2022. Rising demand for aerostat systems majorly drives the global aerostat systems market. The demand is primarily due to aerostat systems’ versatility of application, low operational costs, easy deployment, cost effectiveness, and ease of use. Moreover, strong demand from the weather, military, homeland security, surveillance, and communication sectors is expected to lead to the growth of the aerostat systems market.
This research study on the global aerostat systems market provides a detailed analysis of how different countries across the globe are using aerostat systems in order to improve their intelligence, reconnaissance, and surveillance capabilities. The report offers an in-depth study of the market drivers, restraints, and growth opportunities. Using these factors, the report identifies various trends expected to impact the market during the forecast period from 2015 to 2022. The report includes a comprehensive coverage of the underlying economical, environmental, and technological factors influencing the aerostat systems market. It also provides the competitive landscape of the key players in the aerostat systems market in order to highlight the prevalent competition in this market. The report provides a detailed competitive analysis of the key players in the aerostat systems market and identifies various business strategies adopted by these leading players. The study explains the penetration of each market segment within various geographies and how they have accelerated the growth of the aerostat systems market.
Based on balloon type, the aerostat systems market is segmented into spheroidal and ellipsoidal aerostat systems. On the basis of class, the market is segmented into small-class, medium-class and large-class aerostat systems. On the basis of applications the aerostat systems market is segmented into military, homeland security, environmental research, and commercial applications. Moreover, based on payload, the market for aerostat systems is segmented into communication relays, electro-optics, surveillance radar, and navigation systems. Depending on their specific requirements and priority, defense organizations can opt between one or more of the aforementioned payloads to efficiently perform their surveillance and intelligence operations.
The report aims to provide a comprehensive, cross-sectional analysis of the aerostat systems market across geographical segments such as North America (the U.S. and the rest of North America), Europe (the U.K., Italy, Germany, Russia, and the rest of Europe), Asia Pacific (Japan, China, India, Australia, and the rest of APAC), the Middle East and Africa (Israel, the UAE, Saudi Arabia, Qatar, South Africa, and the rest of MEA), and Latin America (Brazil and the rest of Latin America).
The report includes an overview of the market strategies, annual revenues, and recent developments of the key companies operating in the market. The key market participants profiled in the study include Lockheed Martin Corporation, Aerostar International, Inc., TCOM LP, Linstrand Technologies Ltd., RosAeroSystems International Ltd., ILC Dover LP, RT Aerostat Systems, Inc., Worldwide Aeros Corporation, and Israel Aerospace Industries. The report provides comprehensive analysis of aerostat systems market offered by leading players in the market. In-depth insights on research and development activities, new product launches, and upcoming technologies are also included in the report.
Aerostat Systems Market by Balloon Type
Aerostat Systems Market by Class
Aerostat Systems Market by Application
- Homeland Security
- Environmental Research
Aerostat Systems Market by Payload
- Communication Relay
- Surveillance Radar
- Aerostat Navigation Systems
Aerostat Systems Market by Geography
- North America
- Middle East and Africa (MEA)
- Latin America