Aerostat Systems Market Share, Size and Growth 2022-2027

According to the latest report by IMARC Group, titled "Aerostat Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global aerostat systems market reached a value of US$ 11.0 Billion in 2021.  On account of the aforementioned factors, the market is anticipated to reach a value of US$ 23.0 Billion by 2027, exhibiting a CAGR of 12.9% during 2022-2027.

An aerostat system is an aerodynamically structured low-level aerial ground surveillance system used as radar for commercial and research purposes. It contains lighter-than-air gases, such as hydrogen and helium, to generate the lifting force and provide them better structural integrity. Aerostat systems are economical, long-lasting, and eco-friendly, possess carrying capacity, and can create a range of payloads, due to which it is employed in missile and defense technologies. Currently, it is designed based on specific parameters, including operating temperature, wind speed, altitude, and payload carrying capacity.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Aerostat Systems Market Trends and Drivers:

The global aerostat systems market growth is being driven by the increasing product demand in the military and defence sectors to perform intelligence, surveillance, and reconnaissance operations. This can be attributed to the rising border threats and geopolitical tensions between neighboring countries. Additionally, the extensive deployment of aerostat systems to achieve geospatial information, deliver target information, and improve communication network is fuelling the market growth. Moreover, the large-scale integration of electro-optical/infrared (ECO/IR) sensors, acoustic detectors, and high-resolution video cameras with aerostat systems is impelling the market growth. Apart from this, the growing investments in research and development (R&D) activities to enhance product efficacy under challenging environments is supporting the market growth.  

Market Summary: 

• On the basis of the payload, the market has been segmented into surveillance radar, inertial navigation system, thermal imaging camera, electro-optical sensor, electronic intelligence and communication intelligence.
• Based on the sub-system, the market has been classified into aerostat, ground control station (GCS) and payload.
• On the basis of the product type, the market has been segregated into balloon, airship and hybrid.
• Based on the propulsion system, the market has been bifurcated into powered and unpowered aerostats.
• On the basis of the class, the market has been categorized into compact-sized, mid-sized and large-sized aerostats.
• Based on the region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East and Africa and Latin America.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Aerostar International, Inc., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corporation., RosAeroSystems, International Ltd., RT Aerostat Systems Inc., TCOM L.P., Worldwide Aeros Corporation, Raytheon Company and Rafael Advanced Defense Systems Ltd.

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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