LONDON--(BUSINESS WIRE)--The global aerostat systems market is expected to post a CAGR of close to 18% during the period 2019-2023, according to the latest market research report by Technavio.
The aerostat is increasingly being used for various applications including aerial photography and video recording, internet provision in remote places, survey and documentation of wildlife, and public services. The aerostats are equipped with several advanced imagery payloads consisting of infrared cameras, live feed, and others. The aerostats are mainly used to combat cross-border trespassing in extreme climatic conditions, where surveillance by personnel is difficult. Aerostats are also being increasingly used by law enforcement agencies for aerial monitoring of crowds at major events. Such deployments are anticipated to drive the demand for aerostat systems during the forecast period.
As per Technavio, the rapid adoption of sensor fusion technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global aerostat systems market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global aerostat systems market: Rapid adoption of sensor fusion technology
With the deployment of sophisticated sensors, the aerostat has become capable of delivering high-resolution reconnaissance data. Therefore, vendors are focusing on miniature EO/IR payloads that offer enough heat dissipation and conform to the industry standards; without compromising on the performance. The adoption of sensor fusion technologies will result in the emergence of an assortment of advanced sensors, which can swiftly and efficiently process data with the help of onboard software support. The amalgamation of data from multiple sensors eliminates the need for the deployment of trained professionals for data parsing and cuts down the time required for the transition of raw data into actionable information.
“Digitization has become one of the emerging trends in the battlefield operations. Digitization of domains, such as communication and surveillance play a vital role in the integrated operations of the modem battlefield. Aerostats provide automated remote areas target monitoring and surveillance through map-based situation awareness displays. Aerostats are cost-effective and are the ideal testbed for emerging technologies,” says a senior analyst at Technavio.
Global aerostat systems market: Segmentation analysis
This market research report segments the global aerostat systems market by type (balloons, airships, and hybrid airships) and geographic regions (APAC, Europe, MEA, North America, and South America).
The balloons segment held the largest aerostat systems market share in 2018. The balloons are helium or hydrogen-filled elliptical or spheroid-shaped hollow structures that are used for atmospheric and climatic research, weather surveillance, remote sensing, and submillimeter astronomy.
North America region led the market in 2018 with a market share of more than 28%, followed by Europe, APAC, South America and MEA respectively. The vast expanse of national borders of countries such as the US necessitates the deployment of alternate surveillance equipment aboard aerostats and UAVs to ensure continuous coverage in regions that are unreachable by patrol forces. This is increasing the demand for aerostat systems in the region.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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