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The Aerostat Systems Market size is estimated to grow at a CAGR of 15.07% between 2022 and 2027. The market size is forecast to increase by USD 10,583 million. The growth of the market depends on several factors, such as better performance and cost benefits compared with geostationary satellites, the wide scope of aerostat applications, and the ongoing digitization of battlefield operations.
This report extensively covers market segmentation by type (balloons, airships, and hybrid airships), propulsion (powered and unpowered), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Aerostat Systems Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Serious challenges for telecommunications providers are posed by the growing demand for high-capacity wireless services, particularly last-mile connectivity. As numerous base stations are required to provide good wireless communication services, the coverage of terrestrial networks is limited in some regions, and the operation involves high costs.
Moreover, the increased mobility of aerostats can be attributed to their inherent ability for flexible and prompt deployment as and when required. With the potential for integration or replacement of satellites, aerostats can be built into new platforms. The demand for aerostat systems, which, in turn, is expected to drive the growth of the global aerostat system market during the forecast period.
As countries and companies face evolving security challenges and the need for real-time information, aerostat systems have become rising popular due to their unique ability in providing persistent aerial surveillance and intelligence gathering. Systems of aerostat provide a high vantage point for full and continuous observation of the area in question.
However, aerostat systems are extensively used for maritime surveillance, including monitoring maritime traffic, detecting illegal fishing activities, preventing piracy, and safeguarding territorial waters. The surveillance capability of aerostat systems has significantly improved as a result of sensor technology developments. The demand for aerostat systems, which, in turn, is expected to drive the growth of the global aerostat systems market during the forecast period.
Aerostats consist of large balloonlike structures that are pressurized with helium or another lift gas. Strong winds, storms, and severe weather events can exert significant forces on the aerostat, potentially leading to structural damage or even rupture. It may be costly and take longer to repair or replace defective components, which could have an adverse impact on the total system uptime and operating efficiency. Adverse weather conditions can compromise the safety of the aerostat's flight.
However, inclement weather can complicate the deployment and recovery of aerostat systems. The unsafe conditions may cause difficulty in launching and landing an aircraft safely, potentially delaying or disrupting mission execution. Such factors are expected to hinder the growth of the global aerostat systems market during the forecast period.
The balloons segment will account for a major share of the market's growth during the forecast period. The balloons are helium or hydrogen-filled elliptical or spheroid-shaped hollow structures that are used for atmospheric and climatic research, weather surveillance, remote sensing, and submillimeter astronomy. In most cases, it is necessary to use an air flow blower system in order to inflate the balloon.
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The balloons segment was valued at USD 4,834.54 million in 2017 and continued to grow until 2021. The financial stability of the telecom industry and its investment capabilities are expected to be instrumental in facilitating the aerostat ecosystem. The development of new businesses can also be helped by the offering of innovative solutions, like end-to-end commercial aeronautics services and on-demand live video data acquisition.
Based on the propulsion, the market has been segmented into powered and unpowered. Propulsion systems enable powered aerostats to achieve controlled movement, precise positioning, and altitude adjustments. This enhanced maneuverability is a significant driver, especially in scenarios where dynamic control and adaptability are essential such as surveillance, reconnaissance, and emergency response. There are various environments and conditions for the deployment of powered aerostats such as urban, rural, or challenging terrain. The aerostats' operating range and their durability are extended by propulsion systems. Propulsion systems facilitate precise altitude control, enabling powered aerostats to operate at different heights. The demand for aerostat systems, which, in turn, is expected to drive the growth of the powered segment of the global aerostat systems market during the forecast period.
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North America is estimated to contribute 27% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America has been at the forefront of technological innovations, leading to the development of sophisticated aerostat systems. The performance of aerostats and their ability to carry out tasks have been greatly enhanced by the development of sensor technology, communications systems, and material science. As a result, governments, defense agencies, and commercial entities in North America are increasingly adopting advanced aerostat systems for surveillance, border control, and disaster management purposes.
Moreover, the higher demand for air traffic control systems has resulted from a growing emphasis on homeland security and border surveillance in North America. With their ability to monitor vast areas continuously and detect potential threats, aerostats play a crucial role in safeguarding borders and critical assets. Such factors are expected to drive the demand for aerostat systems, which, in turn, is expected to drive the growth of the regional aerostat system market during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the aerostat systems market in North America. However, in 2021, as vaccination drives conducted by the government across the region gained traction and brought down infection rates, North American countries began easing restrictions and allowing businesses to resume operations. The usefulness of aerostat systems in disaster management and aid missions has been demonstrated. Their ability to provide aerial surveys, communication links, and emergency response support will contribute to increased adoption. Such factors are expected to drive the demand for aerostat systems, which, in turn, is expected to drive the growth of the regional aerostat system market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aeroscraft Corp.- The company offers aerostat systems such as ML866 and ML868.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Aero Drum Ltd., Airborne Industries Ltd., Altaeros, AUGUR RosAeroSystems, CNH Industrial NV, CNIM SA, Drona Aviation Pvt. Ltd., Forecast International Inc., Hybrid Air Vehicles Ltd., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corp., Rafael Advanced Defense Systems Ltd., RT, Solar Ship Inc., TCOM LP, Thales Group, and Zero 2 Infinity S.L.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The aerostat systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Aerostat Systems Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.07% |
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Market growth 2023-2027 |
USD 10,583 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
13.17 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 27% |
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Key countries |
US, China, France, UK, and Russia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aero Drum Ltd., Aeroscraft Corp., Airborne Industries Ltd., Altaeros, AUGUR RosAeroSystems, CNH Industrial NV, CNIM SA, Drona Aviation Pvt. Ltd., Forecast International Inc., Hybrid Air Vehicles Ltd., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corp., Rafael Advanced Defense Systems Ltd., RT, Solar Ship Inc., TCOM LP, Thales Group, and Zero 2 Infinity S.L. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Propulsion
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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