DUBLIN, October 20, 2021--(BUSINESS WIRE)--The "Aerostat Systems Market, Growth & Forecast, COVID-19 Impact, Industry Trends, By Product, Application, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
An aerostat is essentially an aerodynamically shaped balloon that is tethered to the ground. They are made of large fabric envelopes filled with helium or hot air and have an optimal reach of around 4,600 m in height. Aerostat systems are used for various applications, including information gathering, surveillance and scientific research. They are durable, eco-friendly and cost-effective, as well as have high structural integrity. According to the publisher, Aerostat Systems Market is projected to reach US$ 21.26 Billion by 2027.
However, the outbreak of the coronavirus disease (COVID-19) and the imposition of lockdown in several countries have disrupted operations at the production units of aerostat systems globally. It has negatively affected the market because of the temporary closures of several manufacturing units and the disruption of the supply chain.
Factors Driving Aerostat Industry
Further, increasing territorial tensions, terrorism, and border infiltrations worldwide are propelling the militaries to enhance their battlefield data-sharing capabilities. This has resulted in several countries adopting the aerostatic system as an alternative. Aerostat systems work 24/7 for weeks or even months at a time, offering persistent surveillance.
That is why governments all over the globe have started promoting the utilization of aerostat systems for different military applications, including surveillance and border security. Aerostat systems are increasingly being used for communicating signs that indicate natural disasters, civil unrest and crimes within a country. As per the research findings, Aerostat Systems Market Size was US$ 7.64 Billion in 2020.
The Military and Law Enforcement Segment has the Largest Market Share
Based on Application, The aerostat systems market includes Military, Law Enforcement, Commercial and Environmental Research. The military and law enforcement segment has the largest market share. This is primarily due to increased demand for aerostat systems products like Airship, Balloons and Hybrid to support intelligence, surveillance, reconnaissance missions and enhance network communications capabilities in land and sea platforms.
Additionally, aerostats are also becoming popular for commercial applications, like internet connectivity. Aerostats are promptly expanding LTE networks and 5G technology in remote areas at a significantly low cost and energy. As per the Report, Aerostat Systems Industry is likely to grow at a double digit CAGR of 15.74% during (2020- 2027).
1. ILC Dover, LP
2. Lockheed Martin Corporation
3. Raven Industries Inc.
4. Raytheon Company
5. Thales Group
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Aerostat Systems Market
6. Market Share - Aerostat Systems Market
6.1 By Product
6.2 By Application
6.3 By End User
6.4 By Region
7. Product - Aerostat Systems Market
8. Application - Aerostat Systems Market
8.2 Law Enforcement
8.4 Environmental Research
9. End User - Aerostat Systems Market
9.2 Private Sector
10. Region - Aerostat Systems Market
10.1 Asia Pacific
10.2 North America
10.4 Latin America
10.5 Middle East & Africa
11. Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/k6sb9h
View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005649/en/
Laura Wood, Senior Press Manager
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