Aerostat Systems Market Explores New Growth Opportunities by 2024
Sarasota, FL -- (SBWire) -- 09/13/2017 --Aerostat Systems Market: Overview
The large envelope that is made of fabric and is filled with the helium or hot air is known as aerostat. The aerostat systems are surveillance systems that are used at the low-level airborne ground. The designing and the manufacturing of the aerostat systems depend upon parameters such as operating temperature, wind speed, altitude, and payload carrying capacity.
Aerostat Systems Market: Segmentation
The global aerostat systems market is fragmented into its product type, application, size, propulsion system, and end-use. Based on the product type, the global market is segregated into airship, balloon, and hybrid. Based on the application, the market is categorized into intelligence gathering, force protection, border/port security, incident awareness & assessment, rapid acquisition, surveillance, research, critical infrastructure security, communication relays, situational awareness, and disaster response, and others. Based on the size, the market is divided into large sized, mid-sized, and compact-sized. Based on the propulsion system, the market is bifurcated into unpowered and powered. Based on the end user, the market is fragmented into commercial and defense.
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Aerostat Systems Market: Growth Factors
There is a wide range of applications of the aerostat systems in the scientific research, surveillance, and information gathering. The aerostat systems have beneficial characteristics such as low operational cost, durability, high structural integrity, low maintenance cost, and is eco-friendly thus fuelling the demand of the market. There is an increased use of the aerostat systems in the defense and the system has additional benefits over the other aerial surveillance systems such as aircraft and drones. The market players are focusing on improving the present aerostat system with the help of updated technologies and innovative designs which will enhance the performance of the aerostat systems. This fact is positively enhancing the growth of the aerostat systems. There are certain factors that are limiting the growth of the aerostat systems which includes that the aerostat system is affected by the harsh weather conditions and the wind which is not accepted as the system is expected to remain airborne for long durations, the designing and the manufacturing of the system is a complex method, and the initial set up cost is high.
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Aerostat Systems Market: Regional Analysis
On the basis of the regional segmentation, the global aerostat market includes regions such as Asia Pacific, North America, the Middle East and Africa, Eastern Europe, Latin America, Western Europe. The region that holds the maximum market share in the aerostat systems market is the North America. The factors that are contributing to this dominance are the wide acceptance of the system and the increasing use of the system in the defense and homeland security. The demand for the aerostat systems will rise significantly in the Middle East and African and Asia Pacific regions owing to the increasing inclination to strengthen their capabilities of surveillance and the border security as there is a tremendous rise in the terrorism thus increasing the demand for the aerostat systems positively.
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Aerostat Systems Market: Competitive Players
The key market players that are involved in the aerostat systems market includes ILC Dover, Aeros, Raytheon Company, Israel Aerospace Industries Ltd., Hybrid Air Vehicles Limited, Cameron Balloons, RT Aerostats Systems, Raven Industries, Inc., Lockheed Martin Corporation, Aero Drum Ltd., TCOM, L.P., Lindstrand Technologies Limited, Icarus Training Systems, and AUGUR – RosAeroSystems.
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