DUBLIN, July 18, 2023 /PRNewswire/ — The “Aerostat System Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global aerostat system market is projected to experience significant growth, reaching $11.32 billion in 2023 with a compound annual growth rate (CAGR) of 16.4%. The market is expected to further expand to $19.90 billion in 2027, at a CAGR of 15.2%.
Major players in the aerostat system market include Lockheed Martin Corporation, Raytheon Technologies Corporation, TCOM L.P, Raven Industries, and AUGUR – RosAeroSystems, among others.
The aerostat system refers to a lightweight balloon or blimp-shaped aircraft that uses buoyancy for lift instead of wings or rotors. It is utilized for aerial surveillance and communications, offering increased reliability, safety, and carrying capacity.
Reasons to Purchase:
Gain a global perspective with comprehensive coverage of the market across 50+ geographies.
Understand the market’s response to COVID-19 and its impact as the virus abates.
Assess the influence of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and its direct and indirect effects on the market.
Measure the impact of high global inflation on market growth.
Develop regional and country strategies based on local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and insights into market drivers and trends.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Support internal and external presentations with reliable high-quality data and analysis.
The market for aerostat systems includes balloons, airships, and hybrids. These systems utilize various propulsion systems, such as powered and unpowered, equipped with electro-optic or infrared sensors, communication intelligence, cameras, surveillance radar, and inertial navigation systems. The payload sizes range from compact to mid-sized and large-sized classes, catering to military, law enforcement, commercial, and environmental research applications.
Technological advancements are a key trend driving the aerostat systems market, with major companies focusing on developing innovative solutions to maintain their market position. In July 2022, TCOM Holdings acquired Aerostar International, Inc. from Raven Industries, aiming to enhance its stratospheric platform and radar system capabilities for improved security in the evolving military and technological landscape. This acquisition strengthens TCOM Holdings’ presence in the aerospace and defense industry.
North America was the largest region in the aerostat system market in 2022, followed by Europe. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
The growing use of persistent intelligence, surveillance, and reconnaissance (ISR) is a key driver for the aerostat systems market. Persistent ISR involves collecting and analyzing information to support decision-making and enhance national security. Aerostat systems offer real-time border security and multi-mode surveillance capabilities over larger areas with lower maintenance requirements compared to conventional aircraft and drones.
For example, the United States Department of Defense announced a budget of $8.3 billion in FY 2023 to enhance its ISR portfolio for national security. This investment reflects the growing need for persistent intelligence, surveillance, and reconnaissance, which is expected to drive the growth of the aerostat systems market.
The market includes sales of tactical-size tethered aerostats, medium-volume tethered aerostats, large-volume tethered aerostats, operational aerostat systems, and strategic aerostat systems. The market value represents revenues gained by manufacturers or creators of goods through sales, grants, or donations within the specified market and geography.
Key Topics Covered:
1. Executive Summary
2. Aerostat System Market Characteristics
3. Aerostat System Market Trends And Strategies
4. Aerostat System Market – Macro Economic Scenario
4.1. COVID-19 Impact On Aerostat System Market
4.2. Ukraine-Russia War Impact On Aerostat System Market
4.3. Impact Of High Inflation On Aerostat System Market
5. Aerostat System Market Size And Growth
5.1. Global Aerostat System Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Aerostat System Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Aerostat System Market Segmentation
6.1. Global Aerostat System Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Balloon
Airship
Hybrid
6.2. Global Aerostat System Market, Segmentation By Propulsion System, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Powered
Unpowered
6.3. Global Aerostat System Market, Segmentation By Payload, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Electro-optic or Infrared Sensors (EO/IR)
Communication Intelligence
Cameras
Electronic Intelligence
Surveillance Radar
Inertial Navigation System
6.4. Global Aerostat System Market, Segmentation By Class, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Compact Sized
Mid Sized
Large Sized
6.5. Global Aerostat System Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Military
Law Enforcement
Commercial
Environmental Research
7. Aerostat System Market Regional And Country Analysis
7.1. Global Aerostat System Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Aerostat System Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/hvxf4n
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets