Global Aerostat Systems Market - Market forecast and Analysis (2018-2023)
In 2016, the global aerostat systems market was valued at USD 550 million and is expected to register a CAGR of XX%, during 2017-2022 (the forecast period). Bravura Information Technology Systems has been awarded by the US Army contract, worth USD 305 million, to support the persistent surveillance systems-tethered aerostat program. An Israeli aerostat company, RT LTA Systems has established a new subsidiary under the name Aero-T, which will develop and manufacture a new range of aerostats called SkyGuard that would operate maintenance-free for at least seven days.
Drone Aviation has accomplished the integration of government-furnished ISR equipment supporting the simultaneous use of communications and optical payload packages, onto the Winch Aerostat Small Platform tactical aerostat, under the recent contract with the US Department of Defense. With proper development and funding, aerostats would replace UAVs and low-flying surveillance systems from the constant surveillance field, where operation costs and the focus of operation are major constraints.
Aerostats consume less fuel, are stationary, and can carry a large payload with minimum expenditure. Aerostats act as a deterrent to cross-border smugglers carrying illegal drugs by air. In a month, it has been noted that aerostat usage has saved about 500% in surveillance costs, compared to the expenditure incurred by using fixed wing aircraft.
Factors Fueling the Aerostat Systems Market Include:
Accurate geospatial information
Low maintenance and operation costs
Increasing focus of defense department for the surveillances purpose
The North America is expected to lead the market for aerostats, due to its acceptance and already prevalent usage in law enforcement. As Mexico shares a border with the United States, it is expected to tap into the aerostat demand market, which will accelerate the growth in law enforcement, border security, and surveillance of sensitive areas. Due to the threat of criminal activity and terrorist-instigated violence, Asia-Pacific, the Middle East & Africa are expected to witness an increase in the aerostat demand for border security and public area surveillance.
Proper marketing of aerostat is expected to boost the acceptance and support from the communication department, local law enforcement, and border security forces in countries such as India, China, Pakistan, Afghanistan, Iran, Iraq, and others (with a large area, difficult weather, and rough terrain). The UAE and some African countries like the Republic of South Africa, Nigeria, and Côte d'Ivoire are other possible markets for this technology; if successful, its development would be replicated in the countries like Egypt, Turkey, and Syria.
Our Aerostat Systems Market Report Covers:
Market trends & dynamics
Latest News & developments
Porter’s five force analysis
Nature of questions answered in the report
What are the new technological advancements in aerostat system adopted by key vendors & how will it affect the market growth?
How will the government policies and legal regulations govern the market growth?
From which country can we anticipate the maximum demand for aerostat system by the end of forecast period?
What factors are driving the growth of North America as the leading player?
What are the strategic developments made among the leading players, which would fuel the aerostat system market demand?
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