High Altitude Platform Market: Challenges to Industry Growth, Size, Share, Forecast 2024

Market Study Report recently introduced new title on “2017-2024 Global High Altitude Platform Market Report” that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.

High Altitude Platform (HAP) Market size is set to exceed USD 1.5 billion by 2024; according to a new research report.

A major factor contributing to the high demand in the high altitude platform market are the operational advantages over coverage area, manufacturing and repair costs as compared to conventional communication systems such as satellites and communication towers. These provide massive cost-savings in manufacturing, testing, and maintenance as compared to satellite systems.

Solar-powered, efficient technologies are massively promoted by government bodies across the world owing to the rising pollution and depletion of natural fuel sources. Vendors operating in the global high altitude platform market are integrating photo-voltaic cell modules across the wingspan to decrease the reliance on fuel cells to generate power. For instance, in May 2017, SolarStratos completed the testing of the prototype of the first commercial two-seater solar plane, Elektra-2. Following this, various other companies in the HAP market such as Airbus SE and AeroVironment, Inc. have increased their investment in the development of these technologies and developed and launched unmanned HAPs for various applications.

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High growth in the telecommunications segment is due to the rising penetration of the internet and the increase in global smartphone usage. Provision of broadband services in rural locations is highly researched by companies such as Google through their various projects such as Skybender and Loon.

The economic boom in the South-East Asian countries is contributing to the high growth of the HAP market. Outsourcing of various business operations requires continuous connection to the internet and other communication facilities. Disruption in connectivity can result in massive financial losses for regional players. Additionally, the consumers in the region are also seeking high speed broadband services and wireless connectivity which at lower rates. Rising instances of smuggling and terroristic activities across the world have led to government concern and strategies to tackle such issues. Various regions such as the Middle East and Africa are prime conflict locations that require advanced defense solutions such as manned and unmanned weaponized airships.

Players operating in the global high altitude platform market include Lockheed Martin Corporation, Thales Group, ILC Dover L.P, Worldwide Aeros Corporation, Elektra Solar GmbH, Raytheon Company, Aerostar International, Inc., and Airbus SE. Partnerships and joint ventures are commonplace among companies in the HAP market. For instance, in February 2016, AVEALTO entered into a partnership with JP Aerospace for the development of a HAP prototype vehicle.

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High altitude platform market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

High Altitude Platform Market, By Product
Unmanned aerial vehicles (UAV)
Airships
Tethered aerostat systems

High Altitude Platform Market, By Application
Surveillance
Navigation and remote sensing
Communication
EO/IR system

High Altitude Platform Market, By End-use
Government & defense
Commercial

Table of Content:

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Definition and forecast parameters

1.2. Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2. Executive Summary

2.1. HAP industry 3600 synopses, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Application trends

2.1.4. End-user trends

Chapter 3. HAP Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.4. Technology & innovation landscape

3.4.1. High Altitude Platforms Mobile Robotic Telesurgery (HAPsMRT)

3.4.2. Stratospheric aerostats and telecommunication platforms

3.4.3. Broadband Communications via HAPs

3.5. Regulatory landscape

3.5.1. Military standards

3.5.2. Privacy issues

3.5.3. Radio regulations by International Telecommunication Union

3.6. Industry impact forces

3.6.1. Growth drivers

3.6.1.1. High penetration of the internet and wireless technology in Asia Pacific

3.6.1.2. Increase in defense and public safety spending in the U.S

3.6.1.3. Demand for in-flight passenger connectivity in the Asia Pacific and Europe

3.6.1.4. Operational advantages over terrestrial and satellite systems in the U.S, Europe, and Asia Pacific

3.6.1.5. High focus on solar powered technology in North America and Europe

3.6.2. Industry pitfalls & challenges

3.6.2.1. High manufacturing and maintenance costs

3.7. Growth Potential Analysis

3.8. Porter's analysis

3.9. Competitive landscape and strategic dashboard

For more details about this report: https://www.marketstudyreport.com/reports/high-altitude-platform-market

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