High Altitude Platform (HAP) Market Expected to Grow Strongly By 2024; Major Companies are aerovironment, ILC Dover, IAI - Israel Aerospace Industries, Lockheed Martin, Rafael Advanced Defense Systems, Raytheon, Thales

High Altitude Platform (HAP) Market is projected to reach a revenue of approximately USD 1.5 billion over the forecast timespan. These systems overcome the challenges pertaining to conventional satellites and terrestrial towers such as high costs, inoperability over large distances and water bodies, and inaccessibility for maintenance and testing. Additionally, these provide a faster convergence route for broadcasting and communication services as they are situated in close proximity to the earth’s lower layers and are accessible by a larger customer base causing a substantial HAP market growth.

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The application of HAP market can extensively aid in the reduction of crime, terrorism, contraband smuggling, and human trafficking owing to which countries are increasing their military and public safety spending to support the advancements of such technologies. For instance, India increased their military budget by 6% since last year and is anticipated to increase the spending in the coming years.

The increased demand for telecommunication services in rural and underserved locations is largely supported by government push for the development of the HAP market. For instance, the application of High Altitude Platforms Mobile Robotic Telesurgery (HAPsMRT) was developed specifically by AeroVironment, Inc. for usage by the U.S. Army. These stations aid medical personnel to implement complex surgeries without latency issues in data packet transfers.

Rapid growth of the industrial and commercial sector in the South-East Asian regions due to low cost, high abundance of raw materials and skilled labour. Foreign players are increasing outsourced activities which cannot function without the availability of high-speed broadband communication services. Furthermore, there is also a notable increase in the reliance of the general population for a large scale of day-to-day operations such as e-learning, payments, gaming, among others fuelling the demand for the high-speed internet solutions via the HAP market.

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Segmentation of the HAP market by UAVs is anticipated to dominate during the forecast timespan owing to their applications in the defense sector. These systems can be designed to rely solely on solar powered technologies which is anticipated to cause large savings in term of fuel costs and reduce the CO2 emissions.

The commercial segment of the HAP market is anticipated to experience high demand during the forecast timespan. Various telecommunication projects such as Skybender and Wave have been implemented for the provision of broadband services to remote locations and have high uses in telesurgery and low cost, internet services.

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HAP market players include Raven Aerostar (Aerostar International, Inc.), AeroVironment, Airbus, Avealto, Elektra Solar GmbH, ILC Dover, IAI - Israel Aerospace Industries, Lindstrand Technologies, Lockheed Martin, Rafael Advanced Defense Systems, Raytheon, TCOM, L.P., Thales, Worldwide Aeros Corp. The HAP market is currently in its nascent stage owing to which companies resort to business strategies such as partnerships and joint ventures to sustain growth. For instance, in March 2016, Avealto Ltd. announced that it was partnering with JP Aerospace for the operation and development of Tandem Vehicle.

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