High Altitude Platform Market is Moving Fast| Key Players are AeroVironment, Airbus, IAI - Israel Aerospace Industries, Lockheed Martin, Rafael Advanced Defense Systems, Raytheon, Thales

With significant advancements in artificial intelligence and wireless technologies, high altitude platform market is expected to witness remarkable growth in the coming years. The emerging market for broadband data provision and multimedia are highly impacting the growth of projects – that are launching terrestrial and satellite systems for enhancing wireless and internet services. Airships, tethered aerostat systems, unmanned planes, and so-called pseudo satellites are some of the most significant high altitude platforms that are been used to enhance global communication, wireless technologies, and surveillance applications.

Statistically, it has been observed that the application scope and involvement of special deep-pocketed proponents have significantly led high altitude platform market to cross the billion-dollar frontier in 2016. According to the estimates provided by Global Market Insights, Inc., high altitude platform market was over USD 1 billion in 2016 and is expected to surpass a valuation of USD 1.5 billion, expanding at 5% CAGR over 2017-2024.

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Speaking of the prominent companies expanding their reach in the high altitude platform market, the social media giant Facebook and leading aerospace manufacturer Airbus are teaming up to develop their separate solar powered unmanned airships. As per reports, these systems are designed to fly above the height of 70,000 feet to provide the broadband internet service in the remote areas. Another recent development witnessed across high altitude platform market is of Google, who has successfully launched HAP projects such as Loom and Skybender to beam internet services to the underserved and rural location across the globe.

The major manufacturers covered in this report: -

1. Raven Aerostar (Aerostar International, Inc.)
2. AeroVironment
3. Airbus
4. Avealto
5. Elektra Solar GmbH + LinkedIn - Google Search
6. ILC Dover
7. IAI - Israel Aerospace Industries
8. Lindstrand Technologies
9. Lockheed Martin
10. Rafael Advanced Defense Systems
11. Raytheon
12. TCOM, L.P.
13. Thales
14. Worldwide Aeros Corp.

The application of high altitude platform 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.

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The increased demand for telecommunication services in rural and underserved locations is largely supported by government push for the development of the high altitude platform 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 high altitude platform market.

Segmentation of the high altitude platform 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.

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The commercial segment of the high altitude platform 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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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