Coronavirus Pandemic Impact on Aerostats Systems
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).
Regional Analysis of Aerostats Systems Market Size
North America is the most comprehensive market for aerostat systems globally and is also spending heavily on aerostat systems for surveillance and communication purposes. In 2019, a sum of US$ 300,000 was granted by the Federal Department of Homeland Security to Las Vegas Police Department to enhance the city's surveillance. The rising Application of aerostat in military operations and homeland security significantly demand aerostat systems in the North American region.
Moreover, the increasing terrorist activities and territorial tension between different countries in the Asia Pacific region result in the rising need for high surveillance units and the growing intelligence among countries. Aerostats systems are used in these regions to extend the nation's intelligence and police investigation capabilities.
Key Players Performance in Aerostat Systems Industry
Leading manufacturers such as ILC Dover, LP, Lockheed Martin Corporation, Raven Industries Inc., Raytheon Company and Thales Group are collaborating with telecommunication service providers to improve the telecommunication network quality. For instance, Raven Industries received a US$ 10.4 Million contract in 2019 for its TIF-25K aerostat systems to be deployed in Afghanistan.
This latest report “Aerostat Systems Market by Product (Airship, Balloons and Hybrid), Application (Military, Law Enforcement, Commercial and Environmental Research), End User (Government, Private Sector), Region (Asia Pacific, North America, Latin America, Europe, Middle East & Africa), Company Analysis (ILC Dover, LP, Lockheed Martin Corporation, Raven Industries Inc., Raytheon Company and Thales Group)” provides a detailed analysis Aerostat Systems Industry.
Product - Aerostat Systems Market have been covered from 3 Viewpoints:
1. Airship
2. Balloons
3. Hybrid
Application - Aerostat Systems Market have been covered from 4 Viewpoints:
1. Military
2. Law Enforcement
3. Commercial
4. Environmental Research
End User - Aerostat Systems Market have been covered from 2 Viewpoints:
1. Government
2. Private Sector
Region - Aerostat Systems Market have been covered from 5 Viewpoints:
1. Asia Pacific
2. North America
3. Europe
4. Latin America
5. Middle East & Africa
Company Insights:
- Overview
- Company Initiatives
- Sales Analysis
Companies Covered:
1. ILC Dover, LP
2. Lockheed Martin Corporation
3. Raven Industries Inc.
4. Raytheon Company
5. Thales Group
Table of Contents
Companies Mentioned
- ILC Dover, LP
- Lockheed Martin Corporation
- Raven Industries Inc.
- Raytheon Company
- Thales Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | September 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 7.64 Billion |
| Forecasted Market Value ( USD | $ 21.26 Billion |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
