Albany, NY — 05/18/2018 — Global Aerostat Systems Market: Snapshot
Aerostat systems hold a large number of advantages over surveillance drones and aircrafts. The primary advantage that they have is the considerably lower cost of operations. Aerostat systems are easier to assemble and deploy, making them more effective in a lot of situations where time is of essence. Furthermore, they take far less in terms of fuel consumption and maintenance. This provides aerostat systems with the massive advantage of being airborne for longer periods between refuels and maintenance. Additionally, aerostat systems possess a great load bearing capacity. Most large aerostat systems can carry payloads of up to five tons.
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At the same time, users are demanding surveillance crafts that are not only persistent, but also efficient. The former advantage is apparent in aerostat systems due to their ability to stay operations for longer periods. Future opportunities in aerostat systems can be derived through the use of modern materials. For instance, several companies are developing their own high quality laminates that can allow an aerostat system to operate in unfavorable weather.
All in all, the global market for aerostat systems is expected to expand at a CAGR of 13.8% in terms of revenue, from 2015 to 2022. This revenue is expected to reach US$4.64 bn by the end of 2016 and US$10.10 bn by the end of 2022.
An exceptionally high demand for aerostat systems by the U.S. homeland security and military have imparted a considerable dominance of North America over this global market. The commercial penetration of aerostat systems is also very high in this region, further consolidating its position as the regional leader in aerostat system consumption.
Europe is also expected to show a high demand for aerostat systems owing to border conflicts between several countries within the region, including Poland, Greece, and Portugal. Their demand to maintain border peace is expected to impact the production of aerostat systems considerably well. Similar demand growth rates are visible in Asia Pacific due to increased investment in surveillance by defense bodies.
Surveillance Radar to Remain Key Payload Type for Aerostat Systems
Surveillance radars that are commonly used for detecting objects ranging from aircrafts, ships, and landscape impedances are the most commonly used payloads in aerostat systems. Defense and military bodies make the most use of these payloads and consequently provide the bulk of the demand for aerostat systems in a very consistent manner. The future of aerostat systems is also expected to find a dominant demand for aerostat systems for the same reasons. Threat detection is a persistent efforts and defense bodies therefore require systems that can provide constant surveillance measures.
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By the end of 2022, 69.4% of the total demand for aerostat systems will come from the military sector. The military uses aerostat systems for surveillance of not only national borders, but also within the country for signs of natural disasters, crimes, and civil unrest. This boosts the rate of communication of such events and can therefore help the military deal with these situations in a timely manner.
The top providers of aerostat systems on a global scale include Lockheed Martin Corporation, Aerostar International, Inc., TCOM, LP, Lindstrand Technologies Ltd., RosAeroSystems International, Ltd., ILC Dover LP, RT Aerostat Systems, Inc., Worldwide Aeros, Corporation, and Israel Aerospace Industries
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