IMARC Group, a leading market research company, has recently releases report titled “Aerostat Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global aerostat systems market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the aerostat systems market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 12.5 Billion |
| Market Forecast in 2028 | US$ 25.8 Billion |
| Growth rate (2023 to 2028) | CAGR of 12.64% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are Aerostat Systems?
Aerostat systems are aerodynamically shaped fastened balloons that are generally used for aerial surveillance applications. They are mainly adopted for detecting fast-moving objects and low-flying objects, including cruise and light aircraft. These systems support a variety of tactical and surveillance equipment, such as electro-optical/infrared (EO/IR) sensors, high-resolution video cameras and communication repeaters, that assist military groups in emergency response decision-making. In comparison to drones and aircraft-based surveillance systems, they are durable, environmentally friendly and economical. The demand for aerostat systems is rising due to the growing need for persistent intelligence, surveillance and reconnaissance (ISR) solutions across the globe, thereby driving the market growth.
What are the growth prospects and trends in the aerostat systems industry?
The global market is primarily driven by the increasing product adoption across the defense sector. This is due to the rising incidences of border threats and geopolitical conflicts across several countries. Since aerostat systems are manufactured with fewer mechanical parts, which significantly reduces the need for periodic maintenance, this is providing a boost to the market. In line with this, the augmenting need for precision in geospatial information has encouraged leading players to heavily invest in the deployment of aerostat systems in order to enhance their battlefield data-sharing capabilities, thus impacting the market growth favorably. Additionally, the rising investments by public and private agencies for upgrading and improving the overall defense infrastructure are acting as another major growth-inducing factor. The market is further driven by continual technological advancements in the manufacturing and designing processes. Other factors, including continuous product innovations, rapid digitization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.
Who are the key players operating in the industry?
The report covers the major market players including:
- Aerostar International, Inc.
- ILC Dover LP
- Israel Aerospace Industries Ltd.
- Lindstrand Technologies Ltd.
- Lockheed Martin Corporation.
- RosAeroSystems
- International Ltd.
- RT Aerostat Systems Inc.
- TCOM L.P.
- Worldwide Aeros Corporation
- Raytheon Company
- Rafael Advanced Defense Systems Ltd
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Payload:
- Surveillance Radar
- Inertial Navigation System
- Thermal Imaging Camera
- Electro-Optical Sensor
- Electronic Intelligence
- Communication Intelligence
Breakup by Sub-System:
- Aerostat
- Ground Control Station (GCS)
- Payload
Breakup by Product Type:
- Balloon
- Airship
- Hybrid
Breakup by Propulsion System:
- Powered Aerostats
- Unpowered Aerostats
Breakup by Class:
- Compact-Sized Aerostats
- Mid-Sized Aerostats
- Large-Sized Aerostats
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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