Aerostat Systems Market 2027 Competitive Analysis and Segmentation

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According to the latest report by IMARC Group, titled "Aerostat Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global aerostat systems market reached a value of US$ 11.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.0 Billion by 2027, exhibiting at a CAGR of 12.9% during 2022-2027.

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Aerostat systems are aerodynamically shaped fastened balloons that are generally used for aerial surveillance applications. They are mainly adopted for detecting fast-moving objects and low-flying objects, including cruise and light aircraft. These systems support a variety of tactical and surveillance equipment, such as electro-optical/infrared (EO/IR) sensors, high-resolution video cameras and communication repeaters, that assist military groups in emergency response decision-making. In comparison to drones and aircraft-based surveillance systems, they are durable, environmentally friendly and economical. The demand for aerostat systems is rising due to the growing need for persistent intelligence, surveillance and reconnaissance (ISR) solutions across the globe, thereby driving the market growth.  

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Global Aerostat Systems Market Trends:

The global market is primarily driven by the increasing product adoption across the defense sector. This is due to the rising incidences of border threats and geopolitical conflicts across several countries. Since aerostat systems are manufactured with fewer mechanical parts, which significantly reduces the need for periodic maintenance, this is providing a boost to the market. In line with this, the augmenting need for precision in geospatial information has encouraged leading players to heavily invest in the deployment of aerostat systems in order to enhance their battlefield data-sharing capabilities, thus impacting the market growth favorably. Additionally, the rising investments by public and private agencies for upgrading and improving the overall defense infrastructure are acting as another major growth-inducing factor. The market is further driven by continual technological advancements in the manufacturing and designing processes. Other factors, including continuous product innovations, rapid digitization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. 

Aerostat Systems Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the aerostat systems market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Aerostar International, Inc.
• ILC Dover LP
• Israel Aerospace Industries Ltd.
• Lindstrand Technologies Ltd.
• Lockheed Martin Corporation.
• RosAeroSystems
• International Ltd.
• RT Aerostat Systems Inc.
• TCOM L.P.
• Worldwide Aeros Corporation
• Raytheon Company
• Rafael Advanced Defense Systems Ltd

Key Market Segmentation:

The report has segmented the global aerostat systems market on the basis of payload, sub-system, product type, propulsion system and class.

Breakup by Payload:

• Surveillance Radar
• Inertial Navigation System
• Thermal Imaging Camera
• Electro-Optical Sensor
• Electronic Intelligence
• Communication Intelligence

Breakup by Sub-System:

• Aerostat
• Ground Control Station (GCS)
• Payload

Breakup by Product Type:

• Balloon
• Airship
• Hybrid

Breakup by Propulsion System:

• Powered Aerostats
• Unpowered Aerostats 

Breakup by Class:

• Compact-Sized Aerostats
• Mid-Sized Aerostats
• Large-Sized Aerostats

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

 

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Key highlights of the report:                                                           

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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