Global Aerostat Systems Market Register at a CAGR of 15.10%, Key Players - TCOM LP (United States), Lockheed Martin (United States), Augur Rosaero systems (Russia), RT LTA Systems Ltd. (Israel), Raytheon (United States) and Raven Industries Inc. (U.S)

Global Aerostat Systems Market Overview:

An aerostat is a system that uses gases that are lighter than air, such as helium, hydrogen, and hot air gases, to provide the aerostat with an elevation from the ground surface. They are used for intelligence, surveillance and recognition by military forces, as well as civil observation. Operating costs associated with the aerostat are low compared to unmanned aerial systems, which are expensive and have limited resistance. The aerostat requires less personnel for its operation and, in addition, maintenance is low because it has fewer mechanical parts. The wide range of applications provided by aerostat systems generates a strong demand for persistent ISR solutions, the engine of the Industry. The latest trend in the industry is HD Thermal Imaging, a new feature that provides images, day and night, by removing obstacles from the ground. In addition, the developments of joint ventures have led to the improvement of aerostat systems. The global aerostat system industry is expected to reach USD 10.95 billion by 2021, with a CAGR of 15.10% during the forecast period.

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Global Aerostat Systems Market - Drivers and restraints:

The demand for aerostat systems is constantly increasing due to its wide range of applications, profitability, low operating costs, ease of deployment and limited personnel experience. The demand for surveillance, intelligence and recognition of military security and national security is strong, leading to new investments. In recent years, vendors are facing high acquisition risk due to significant technical challenges, such as difficulties in software development and overweight components, which has driven up the costs and delays in schedule. For example, the Pentagon is having difficulty developing aerostats for intelligence gathering and recognition due to design and technical problems, which causes programming delays and makes the balloon more expensive. Long-term balloon systems have encountered problems due to the lack of helium for the charge. In Afghanistan, one of the planes encountered a problem because it needed helium, but DLA Energy could not provide helium on time due to shortages. The manufacture of bulk helium is a very long process and, as a result, became one of the main challenges.

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Global Aerostat Systems Market - Geographical segmentation:

The United States, which spends the most on military personnel in the world, is investing in aerostat systems for border security and surveillance purposes. Some of the investments, such as Drone Aviation, have been commissioned by a defence contractor in the United States to improve aerostat systems. The main objective is to improve the systems in which new technologies are used, such as advanced optics, wireless electronics, infrared images and communication packet control systems. The US military will provide intelligence systems to Afghanistan, allowing soldiers to listen to enemy radio communications and detect their position. Growth in Europe, the Middle East and Africa (EMEA) comes mainly from the Middle East, due to the increase in budgets and the constant need for security in the country.

List of Key Players in Global Aerostat Systems Market:

The main players in this Industry have been identified as TCOM LP (United States), Lockheed Martin (United States), Augur Rosaero systems (Russia), RT LTA Systems Ltd. (Israel), Raytheon (United States) and Raven Industries Inc. (U.S).

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