According to a new industry research report published by Credence Research, Inc. “Aerostat Systems Market (Communication Systems, Surveillance Radar, Electro-optical/Infrared (EO/IR) Systems and Navigation Systems) industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global aerostat systems industry was valued at US$ 3,758.9 Mn in 2014 and is estimated to expand with a CAGR of 12.9% from 2015 to 2022.
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Aerostat systems are airborne platforms that are designed to stay aloft for several days using a tethering cable. These systems gain the lift using various lighter-than-air (LTA) gases such as hydrogen, helium and hot air. Aerostat systems are equipped with different payloads, depending upon the application, such as surveillance radar, EO/IR imaging systems, communication relays and navigation systems. As of 2014, surveillance radar segment accounts for the largest share, in terms of revenue, of more than 40% of the global industry. Nevertheless, with increasing adoption of aerostat systems in the wireless communication sector, the communication systems segment is estimated to register the highest growth in the coming years.Aerostat Systems industry
Based upon the product class of aerostats, the industry is segmented into small class, medium class and large class aerostat systems. Currently, the medium class aerostat systems segment accounts for the largest industry share, in terms of revenue, globally. These aerostat systems are fairly large and cheap and hence are suited for most of the low-medium altitude applications. Hence, the segment is expected to retain its dominant position in the industry throughout the forecast period. Nevertheless, large class aerostat systems segment is projected to witness the highest growth in the coming years, globally. These class of aerostat systems are capable of carrying large payloads and can be operated at altitudes ranging up to 65,000 feet from the Earth’s surface. Further, with emergence of projects such as the Project Loon and Internet.org which intend to deliver wireless communication using high altitude aerostats, the large aerostats segment is expected to witness high demand in the near future.
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Competitive Insights:
The global aerostat systems industry is consolidated in nature with few major companies dominating the global industry. Major players in the industry include TCOM L.P., Lockheed Martin Corporation, Raytheon Company, Raven Industries, Inc. and others. Most of these companies focus on acquiring government contracts for deployment of aerostat systems. Apart from this, these companies also focus on development of advanced fabric materials for better sustaining of aerostats in adverse weather conditions.
Key Trends:
Development of high performance fabrics for aerostats envelope
Focus on acquiring international customers for aerostat systems
Development of high performance aerostat systems suitable for operating in the high altitude category
Aerostat systems for various other untapped applications such as time synchronization, satellite backup etc.
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