Press release
Aerostat Systems Market Segmentation and Strategies of Key Players For 2014 - 2022
Increasing demand for aerostats in military and homeland security applications are driving the global aerostat systems market, which is anticipated to expand at a CAGR of 13.8% during the forecast period from 2015 to 2022. The overall aerostat systems market was valued at US$ 3,604.7 Mn in 2014. The key drivers for the market include the high endurance, high-resolution image-transmission capabilities, and cost effectiveness of the aerostat systems.The key factors such as high competitive advantages of aerostat systems over surveillance aircrafts, increasing need for persistent intelligence, surveillance and reconnaissance worldwide are magnifying the demand for aerostat systems across the globe. The demand for aerostat systems globally is mainly driven by the numerous superior advantages of these systems over other aircrafts and drone based surveillance systems. The most significant advantage of aerostat systems over other surveillance systems is their low cost. Use of aerostat systems for surveillance and communication applications significantly reduces the fuel costs associated with the surveillance aircrafts and drones. Aerostat systems have lesser mechanical parts compared to the aircrafts and drones. This substantially decreases the need for periodic maintenance of these systems, thus, further reducing their maintenance costs. Besides, aerostat systems require lesser time for assembly and deployment, thereby providing faster operation. Most of the large-class aerostat systems have the capacity to carry payload of several tons, typically ranging from two to five tons. This feature enables mounting high performance surveillance and communication payloads on the aerostat systems for accurate and real-time data.
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Furthermore, aerostat systems are capable of being aloft for several weeks without any maintenance requirement. This feature further ensures fewer lapses in the surveillance and communication coverage, arising due to maintenance issues. Due to these advantages, the demand for aerostat systems is expected to remain strong over other platforms during the forecast period. However, availability of alternatives such as airships and unmanned aerial vehicles is posing challenge to the market growth.
Aerostat systems offer numerous advantages, such as surveillance capability for larger areas and accurate detection of smaller objects. These systems are majorly used in land and air-based surveillance. However, due to their high precision with respect to the detection of objects, aerostat systems are becoming increasingly popular in maritime applications. Conventionally, radar surveillance systems are mounted to ships for the detection of objects. However, small objects such as small ships and fast moving boats are not detected easily using ship-mounted radars. Aerostat surveillance radars can be mounted at height of 1,000-15,000 feet. Radar systems mounted at these heights are capable of accurately monitoring different objects near shores, thereby eliminating the possibilities of collision. The most common types of aerostat systems deployed for maritime applications are medium-class aerostats with length ranging from 20 meters to 50 meters.
On the basis of balloon shape, the global aerostat systems market is segmented into spheroidal and ellipsoidal segments. In 2014, ellipsoidal balloon-shaped aerostat systems are the most preferred aerostat systems in the market. However, spheroidal balloon-shaped aerostat systems are expected to expand at a substantial CAGR during the forecast period. This growth is due to better aerodynamics of spheroidal aerostat as compared to ellipsoidal aerostat systems. Aerostat systems market, on the basis of class is segmented into small-class, medium-class and large-class aerostat systems. Presently, medium-class aerostat systems held the largest revenue share worldwide.
On the basis of payload types, the global aerostat systems market is into communication relays, electro-optics, surveillance radars, and navigation systems. Surveillance radars, being the most traditional means of surveillance, dominated the global aerostat systems market in 2014. However, with the growing adoption of electro-optics systems across different applications, the electro-optics segment is expected to witness the highest growth during the forecast period.
The global aerostat systems market is segmented on the basis of applications into military, homeland security, commercial, and environmental research. In 2014, the military applications segment accounted for the largest revenue share in the global aerostat systems market. This was majorly due to increasing demand for surveillance systems from the segment. Furthermore, the military application segment is predicted to hold its dominant position in the global aerostat systems market throughout the forecast period.
North America is the largest market for aerostat systems globally. Growth of the aerostat systems market in North America is mainly supported by the high demand for these systems from the U.S. military and homeland security departments. However, due to the high penetration of aerostat systems in the region, the demand for these systems is predicted to remain low in the coming years.
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The global aerostat systems market is consolidated, with a few major global companies dominating the market. Aerostat systems manufacturers generate the majority of their sales from the defense sector, making it the prime end-user of aerostat systems. Defense sectors across the globe purchase aerostat systems as per their needs by issuing tenders. Thus, aerostat systems manufacturers focus on acquiring different contracts and tenders issued by the defense sector. The U.S. Department of Defense (DoD) is among the largest customers of aerostat systems globally. Consequently, most aerostat systems manufacturers focus on acquiring contracts issued by the U.S. DoD. In order to achieve this, companies such as TCOM L.P. focus on enhancing their product portfolio to provide high-performance and low-cost aerostat systems to their customers.
The global aerostat systems market, in current situation shows the presence of key players including Lockheed Martin Corporation, Aerostar International, Inc., TCOM LP, Linstrand Technologies Ltd., RosAeroSystems International Ltd., ILC Dover LP, RT Aerostat Systems, Inc., Worldwide Aeros Corporation, and Israel Aerospace Industries.
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