Press release
Military Biometrics Market - Global Industry Analysis, Size, Share, Growth, Forecast 2016 to 2026
Based on product type, the military biometrics market is divided into balloon, hybrid and airships. Among various types, in 2015, the airships segment estimated to be the key market followed by hybrid. Airships are anticipated to use as a transportation to deploy cargo or troops in areas, which have poor infrastructure. In addition, airships segment is also estimated to be the fast rising segment for themilitary biometrics market during the forecast period of 2016 - 2024.
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Based on propulsion system, the market is divided into unpowered and powered systems. Among various types, in 2015, the powered aerostat is anticipated to be the fastest rising segment in the military biometrics market, registering higher CAGR during the forecast period of 2016 to 2024. Factors such as lesser fuel consumption and adaptability is the major factor driving the market for the unpowered aerostats during the forecast period of 2016 - 2024.
The market of military biometricsis divided based on the class into large-sized, mid-sized andcompact-sized.The large-sized aerostats is expected to be the fastest rising segment in the military biometrics market during the forecast period of 2016-2024. One of the major factor boosting the market is increasing need for airships by the defense forces globally which in turn anticipated to fuel the demand for large-sized military biometrics. The rise in the demand hybrid vehicles and advanced airships is some of the factors driving the market for the military biometrics during the forecast period of 2016 - 2024.
Based on the geography, the military biometrics market is divided into Asia Pacific, North America, Europe, Middle East & Africa and South America. North America grips the key market share trailed by Europe. Some of the major factors driving the market for military biometricsin North America areuse of aerostats in organizing missile defense among others. In 2015, the U.S. is the key market for the military biometrics market, globally. Moreover, Europe is the second major market for military biometrics market trailed by Asia Pacific, South America and Middle East & Africa. Asia Pacific dominated by India, China, South Korea and Japan. In addition, China held the largest share for the military biometrics market in Asia Pacific in 2015. It is also expected to experience healthy growth in the coming years. Growing demand of military biometrics is acting an opportunity factor for the market. The Middle East region is anticipated to show the maximum growth rate in the military biometrics market, during the estimate period from 2016 to 2024. The evolution of the military biometrics market in Middle East region can be attributed to the increasing demand for persistent investigation due to a rise in terrorism in the region.
Some of the major players in the Military biometrics market include Lockheed Martin Corporation (United States), ILC Dover (United States), Raytheon Company (United States), Raven Industries (United States) and Allsopp Helikites (United Kingdom). These major players are targeting to penetrate growing economies and are implementing several methods to boost their market share. In addition, some of the other major playersTCOM L.P. (United States),Near Space Systems (United States),Rafael Advanced Systems (Israel), Hybrid Air Vehicles (United Kingdom), Aeroscraft Corporation (United States),RT LTA Systems Ltd. (Israel), Exelis (United States), Lindstrand Technologies (United Kingdom) and Augur Rosaero systems (Russia) among others.
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