North America Aerostats Systems Market Forecast 2018-2026
KEY FINDINGS The North America aerostat market is predicted to exhibit a healthy increase from its 2017 revenue of $2453 million. By the end of the forecast years of 2018-2026, the market is anticipated to rise with 15.13 % CAGR, generating a net total of $8681 million.
MARKET INSIGHTS The North America aerostat market is categorized on the basis of balloon type, application, payloads, and propulsion system. The scope of the aerostats system in the U.S is driven by their ability to provide thermal images and live broadcasting. Also, these systems are increasingly gaining acceptance from military organizations. The US government is spending huge amounts for the development of the aerostat systems. The Canadian market too has witnessed a rise in the adoption of aerostat systems. It is majorly driven by factors like increasing globalization and economic liberalization, rapid technological advancements, and growing concerns related to safety and security that are increasing the need for surveillance systems in the regions.
COMPETITIVE INSIGHTS Major market players like Raytheon Company, Hybrid Air Vehicles, Lockheed Martin Corporation, Aerostar International Inc, Worldwide Aeros Corporation, World Surveillance Group Inc., Harris Corporation, Skyship Services Inc, Raven Industries Inc, Aeroscraft Corporation, etc. are increasingly competing in this market.