Market for aerostat systems will be worth $9.96 billion by 2020, says research firm
According to a new market research report on aerostat systems published by MarketsandMarkets, the aerostat systems market is projected to rise from $3.93 billion in 2014 to $9.96 billion by 2020, at an estimated CAGR of 16.68 percent.
The market research report, entitled, Aerostat Systems Market by Aerostat Class – Market Forecast & Analysis to 2013 – 2020, contains 81 market data tables and 42 figures spread through its 175 pages, as well as an in-depth table of contents.
An aerostat is a platform that uses a buoyant that is lighter-than-air gases, such as helium, hydrogen and hot air. These gases lift the tethered balloon with nearly the same overall density as air. The key structural components include a lightweight skin envelope that contains helium gas to provide buoyancy, payload and a ground control station.
Depending on the application of the aerostat systems are the different payloads attached such as electro-optics, communication intelligence, thermal imaging camera, electronic intelligence, surveillance radar and inertial navigation system.
The aerostat system market has been segmented on the basis of aerostat class, balloon type, payload, and region. The aerostat class segmentation includes small (~30 m), medium (32-36 m), and large (68-72 m) systems. The world’s leading homeland security agencies are expected to spend heavily on medium and large aerostat systems, which provide enhanced intelligence, surveillance and reconnaissance, communication, law enforcement, and border patrolling capabilities. The motivation for the drift to the aerostat systems includes low cost, long endurance, and high resolution image transmission capabilities.