Aerostat Systems Market size to increase by USD 10.58 billion during 2022-2027| Better performance and cost benefits compared with geostationary satellites to drive the market growth- Technavio
NEW YORK, Oct. 13, 2023 /PRNewswire/ — The Aerostat Systems Market size is expected to grow by USD 10.58 billion, accelerating at a CAGR of almost 15.07% during the forecast period. Better performance and cost benefits compared with geostationary satellites to drive the aerostat systems market growth. However, factors like vulnerable to extreme weather conditions may impede market growth. The market is segmented by Type (Balloons, Airships, and Hybrid airships), Propulsion (Powered and Unpowered), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Aerostat Systems Market 2023 – 2027: Key Highlights:
- The report recognizes the following as some of the key players in the aerostat systems market: Aero Drum Ltd., Aeroscraft Corp., Airborne Industries Ltd., Altaeros, AUGUR RosAeroSystems, CNH Industrial NV, CNIM SA, Drona Aviation Pvt. Ltd., Forecast International Inc., Hybrid Air Vehicles Ltd., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corp., Rafael Advanced Defense Systems Ltd., RT, Solar Ship Inc., TCOM LP, Thales Group, and Zero 2 Infinity S.L.
- Aerostat Systems Market is fragmented in nature.
- Market to observe 13.17% YOY growth in 2023.
Aerostat Systems Market 2023 – 2027: Market Dynamics:
- Aerostat systems are gaining popularity for their persistent aerial surveillance and intelligence capabilities.
- They offer a high vantage point, enabling continuous monitoring of areas for security and information gathering.
- Increasingly used for maritime surveillance, including monitoring traffic, detecting illegal fishing, and preventing piracy.
- Advancements in sensor technology have enhanced the surveillance capabilities of aerostat systems.
- Aerostats, composed of large balloon like structures, are vulnerable to damage and rupture from strong winds and severe weather events.
- Repairs or replacements can be costly and time-consuming, impacting system uptime and efficiency.
- Adverse weather can compromise the safety of aerostat flights, posing risks to both personnel and equipment.
- Inclement weather conditions can hinder the deployment and recovery of aerostat systems, potentially disrupting mission execution.
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Aerostat Systems Market 2023 – 2027: Keg Segments:
The balloons segment is expected to dominate the market’s expansion during the forecast period. These balloons, typically filled with helium or hydrogen, take on elliptical or spheroid shapes and serve purposes such as atmospheric and climatic research, weather surveillance, remote sensing, and submillimeter astronomy. In many instances, an air flow blower system is employed for balloon inflation.
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High-altitude Pseudo Satellites (HAPS) Market: The high-altitude pseudo satellites (HAPS) market is estimated to grow USD 134.55 million between 2022 and 2027 accelerating at a CAGR of 8.74%.
Marine Engine Monitoring System Market: The marine engine monitoring system market size is estimated to grow at a CAGR of 4.09% between 2022 and 2027 and the size of the market is forecast to increase by USD 132.58 million.
Aerostat Systems Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 15.07%
Market growth 2023-2027
USD 10.58 billion
YoY growth 2022-2023 (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 27%
US, China, France, UK, and Russia
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by Propulsion
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
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