Aerostat Systems to Continue Being Advantageous Over Surveillance Aircraft Systems, reports TMR

A majority of the presence of key players in the global market for aerostat systems is located in North America and Europe. These regions have consistently shown a high interest in surveillance strategies and the implementation of effective and long-term defensive tactics.

The presence of players such as Lockheed Martin Corporation, Aerostar International, Inc., and RosAeroSystems International has had a tremendous effect in boosting the demand for aerostat systems in these regions while simultaneously creating a high rate of product and material development for the same.

As per a research publication released by Transparency Market Research, the global market for aerostat systems is extremely consolidated with only a handful players taking up large chunks of the market value. Most of these companies directly cater to the defense sectors of various regions, which is the leading consumer of aerostat systems.

Most of the demand for aerostat systems by the defense sector is issued in tenders and handled by the more prominent players.

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The global market for aerostat systems is expected to be valued at US$4.64 bn by the end of 2016 and US$10.10 bn by the end of 2023. This revenue is expected to expand at a CAGR of 13.8% within a forecast period from 2015 to 2022.

By the end of 2022, the military sector is expected to generate a demand for aerostat systems valued at US$7.01 bn, making it the dominant application segment of aerostat systems till then. The military sector is also the leading application segment in terms of demand expansion, showing a CAGR of 14.0% from 2015 to 2022.

An aerostat is a platform that utilizes a buoyant that is lighter in comparison to air, namely gases such as hydrogen, hot air, and helium. This tethered balloon is lifted by these gases and the major components comprise a lightweight skin envelope which has helium gas to provide buoyancy to carry payload. The global market for aerostat systems stood at US$3.60 billion in 2014 and is anticipated to reach US$10.11 billion by 2022, expanding at a CAGR of 13.8% between 2015 and 2022.

The market for aerostat systems has been segmented in terms of balloon type, payload, aerostat class, and region. On the basis of class, aerostat systems are categorized into medium, small, and large systems. On the basis of balloon type, aerostat systems are segmented into ellipsoidal and spheroidal balloon-shaped aerostat systems. Ellipsoidal balloon-shaped aerostat systems were the most demanded aerostat systems in 2014.

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This release was published on openPR.