Aerostat System Global Market Report 2024

“Aerostat System Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on aerostat system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for aerostat system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aerostat system market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Balloon; Airship; Hybrid
• 2) By Propulsion System: Powered; Unpowered
• 3) By Payload: Electro-optic or Infrared Sensors (EO/IR); Communication Intelligence; Cameras; Electronic Intelligence; Surveillance Radar; Inertial Navigation System
• 4) By Class: Compact Sized; Mid Sized; Large Sized
• 5) By Application: Military; Law Enforcement; Commercial; Environmental Research
• Companies Mentioned: Lockheed Martin Corporation; Raytheon Technologies Corporation; TCOM L.P; Raven Industries; AUGUR - RosAeroSystems
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An aerostat system is a type of aircraft that relies on buoyancy for lift, using a lightweight balloon or blimp-shaped structure. This system is commonly used for aerial surveillance and communications, offering increased reliability, safety, and carrying capacity compared to some other airborne platforms.

The main products within the category of aerostat systems include balloons, airships, and hybrids. A balloon aerostat system is specifically a lightweight, balloon-shaped aircraft that obtains lift from buoyancy. These systems can be categorized based on their propulsion system, which can be either powered or unpowered. Aerostat systems often come equipped with various sensors and instruments, such as electro-optic or infrared sensors (EO/IR), communication intelligence tools, cameras, electronic intelligence systems, surveillance radar, and inertial navigation systems. Payloads for aerostat systems can fall into different size classes, including compact-sized, mid-sized, and large-sized, and they find applications in military, law enforcement, commercial, and environmental research contexts.

The aerostat system market research report is one of a series of new reports from The Business Research Company that provides aerostat system market statistics, including aerostat system industry global market size, regional shares, competitors with aerostat system market share, detailed aerostat system market segments, market trends, and opportunities, and any further data you may need to thrive in the aerostat system industry. This aerostat system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The aerostat system market size has grown rapidly in recent years. It will grow from $11.35 billion in 2023 to $13.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth observed during the historical period in the aerostat system industry can be attributed to several factors. These include the increased demand for military surveillance capabilities, the emphasis on border security and monitoring, defense modernization programs worldwide, concerns related to terrorism and security threats, and involvement in global military conflicts. These factors collectively contributed to the adoption and utilization of aerostat systems for various applications during that timeframe.

The aerostat system market size is expected to see rapid growth in the next few years. It will grow to $23.72 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period for the aerostat system industry can be attributed to various key factors. These include regulatory and policy changes that may drive the adoption of such systems, increased investments in research and development, geopolitical instabilities leading to a focus on defense capabilities, the need for disaster management and response capabilities, and the expansion of commercial applications for aerostat systems. Major trends expected in the forecast period include continued demand for surveillance and monitoring capabilities, military modernization programs globally, an increase in homeland security spending, the utilization of aerostat systems for natural disaster monitoring, expanding commercial applications, and a rising demand for persistent surveillance solutions.

The expansion of persistent intelligence, surveillance, and reconnaissance (ISR) applications is driving the advancement of the aerostat systems market. Persistent ISR encompasses an integrated function that collects and evaluates information to support decision-making and bolster national security. Aerostat systems serve to furnish real-time border security, offering a multi-mode surveillance approach over vast areas with reduced maintenance requirements compared to conventional aircraft and drones. Highlighting this trend, the United States Department of Defense announced a substantial $8.3 billion budget in FY 2023 aimed at fortifying its intelligence, surveillance, and reconnaissance (ISR) portfolio for national security purposes. This robust demand for persistent intelligence, surveillance, and reconnaissance augurs well for propelling the growth of the aerostat systems market.

The burgeoning need for scientific exploration and comprehensive data acquisition is poised to propel the expansion of the aerostat system market. Scientific research involves meticulous examination of various phenomena by gathering, analyzing, and interpreting data systematically. Aerostat systems serve as pivotal platforms for transporting sensors and scientific equipment to considerable heights, proving invaluable in gathering vital data, especially in fields such as atmospheric studies, environmental monitoring, and wildlife observation. For instance, data published by the National Center for Science and Engineering Statistics (NCSES) reported that the United States allocated $717.0 billion toward research and experimental development (R&D) in 2020, anticipating a surge to $791.9 billion in 2021. This escalating need for scientific research and data collection is anticipated to fuel the growth trajectory of the aerostat systems market.

Technological advancement emerges as a pivotal trend gaining traction within the aerostat systems market. Key industry players are actively engaged in developing cutting-edge innovations to reinforce their market stance. A case in point is Altaeros, a US-based aerial platform company, which in July 2021 launched ST-Flex, an autonomous aerostat SuperTower. This portable and swiftly deployable tower streamlines and expedites network deployments, particularly targeting rural connectivity, disaster response, and industrial IoT applications. The ST-Flex stands as a portable solution covering the same area as more than 10 ground-based towers, offering wireless communication capabilities. Additionally, the Autonomous Control Systems (ACS) implemented within ensure unmanned daily operations, guaranteeing high availability at cost-effective measures. These technological strides signify the thrust towards advancing aerostat systems for enhanced performance and diverse application landscapes.

Prominent entities within the aerostat system market are strategically engaged in securing government contracts to offer their innovative products tailored for governmental and military sectors. Governments often seek to adopt cutting-edge technologies for bolstering border security and regularly engage companies to develop specialized products. An exemplar of this trend occurred in November 2023, as the US Customs and Border Protection (CBP) Air and Marine Operations (AMO), a division of the Department of Homeland Security (DHS), awarded the Tethered Aerostat Radar System (TARS) Operations & Maintenance (O&M) III contract valued at $170 million to QinetiQ US. Renowned for its focus on engineering and innovative solutions supporting national security efforts, QinetiQ US will spearhead the operations and maintenance of the TARS program. This program aims to proactively enhance detection and deterrence capabilities while bolstering domain awareness across land, maritime, and aviation domains along the southern border.

In July 2022, TCOM Holdings, a significant US-based player specializing in persistent surveillance solutions safeguarding national security, acquired Aerostar International, Inc. from Raven Industries for an undisclosed sum. This acquisition endeavors to fortify TCOM Holdings' stratospheric platform and radar system capabilities, empowering defense organizations with heightened security measures amidst the evolving military and technological landscapes. Aerostar International Inc., previously under Raven Industries, was recognized for its aerospace and defense products, notably tethered aerostats. This strategic acquisition underscores TCOM Holdings' commitment to enhancing its technological prowess and bolstering its offerings within the aerostat systems domain, aligning with the ever-changing defense and security paradigms.

Major companies operating in the aerostat system market report are Lockheed Martin Corporation, Raytheon Technologies Corporation, TCOM L.P, Raven Industries, AUGUR - RosAeroSystems, ILC Dover LP, RT LTA systems Ltd, Lindstrand Technologies Ltd, Aeroscraft Corporation, Rafael Advanced Defense Systems Ltd, RT Aerostats Systems, Israel Aerospace Industries, Aero Drum Ltd, Drone Aviation Corp, Worldwide Aeros Corp, Aerostar International Inc, Hybrid Air Vehicles Limited, Allsopp Helikites Ltd., Harris Corporation, Rheinmetall Canada Inc., Altaeros Energies Inc., Thales Group, Cameron Balloons Ltd., Airborne Industries Inc., Otonom Teknoloji A.S., Skydoc Systems Inc., Carolina Unmanned Vehicles Inc., Northrop Grumman Corporation, Rapid Access, HoverMast LLC, Sanswire Corp, RosAeroSystems LLC, PT Dirgantara Indonesia, Rostec State Corporation, Alpha Unmanned Systems S.L., Raymetrics S.A., Kempston Hardwick Ltd., SEGMA Inc. .

North America was the largest region in the aerostat system market in 2023. Europe was the second largest region in the aerostat system market in 2023. The regions covered in the aerostat system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aerostat system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aerostat system market consists of sales of tactical-size tethered aerostats, medium-volume tethered aerostats, large-volume tethered aerostats, operational aerostats systems, and strategic aerostats systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.