Home >> Business >> Aerostat Systems Market Is Expected To Reach US$ 9.86 Bn by 2022 | Credence Research

Aerostat Systems Market Is Expected To Reach US$ 9.86 Bn by 2022 | Credence Research

According to a new market research report published by Credence Research, Inc. “Aerostat Systems Market By Shape (Spheroidal, Ellipsoidal), Class (Small, Medium, Large), Payload (Communication Systems, Electro-optical/Infrared (EO/IR) Systems, Surveillance Radar, Navigation Systems), Application (Defense, Homeland Security, Commercial & Others)  – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global aerostat systems market was valued at US$ 3,758.9 Mn in 2014 and is estimated to expand with a CAGR of 12.9% from 2015 to 2022.

Browse the full report at “Aerostat Systems Market

Market Insights

Aerostat systems are airborne platforms that are designed to stay aloft for several days using a tethering cable. These systems gain the lift using various lighter-than-air (LTA) gases such as hydrogen, helium and hot air. Aerostat systems are equipped with different payloads, depending upon the application, such as surveillance radar, EO/IR imaging systems, communication relays and navigation systems. As of 2014, surveillance radar segment accounts for the largest share, in terms of revenue, of more than 40% of the global market. Nevertheless, with increasing adoption of aerostat systems in the wireless communication sector, the communication systems segment is estimated to register the highest growth in the coming years.

Based upon the product class of aerostats, the market is segmented into small class, medium class and large class aerostat systems. Currently, the medium class aerostat systems segment accounts for the largest market share, in terms of revenue, globally. These aerostat systems are fairly large and cheap and hence are suited for most of the low-medium altitude applications. Hence, the segment is expected to retain its dominant position in the market throughout the forecast period. Nevertheless, large class aerostat systems segment is projected to witness the highest growth in the coming years, globally. These class of aerostat systems are capable of carrying large payloads and can be operated at altitudes ranging up to 65,000 feet from the Earth’s surface. Further, with emergence of projects such as the Project Loon and Internet.org which intend to deliver wireless communication using high altitude aerostats, the large aerostats segment is expected to witness high demand in the near future.

Competitive Insights:

The global aerostat systems market is consolidated in nature with few major companies dominating the global market. Major players in the market include TCOM L.P., Lockheed Martin Corporation, Raytheon Company, Raven Industries, Inc. and others. Most of these companies focus on acquiring government contracts for deployment of aerostat systems. Apart from this, these companies also focus on development of advanced fabric materials for better sustaining of aerostats in adverse weather conditions.

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Key Trends:

  • Development of high performance fabrics for aerostats envelope
  • Focus on acquiring international customers for aerostat systems
  • Development of high performance aerostat systems suitable for operating in the high altitude category
  • Aerostat systems for various other untapped applications such as time synchronization, satellite backup etc.

By product Type

  • Small Class (<20m)
  • Medium Class (21m to 50m)
  • Large Class (>50m)

By Application Type

  • Defense
  • Homeland Security
  • Commercial
  • Others (Environmental Monitoring, Time Synchronization etc.)

By payload

  • Communication Systems
  • Surveillance Radar Systems
  • Electro-optical/infrared (EO/IR) Systems
  • Navigation Systems

By Geography Segment

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Latin America

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