Asia Pacific Aerostat Systems Market Forecast 2017-2024

Asia Pacific Aerostat Systems Market Forecast 2017-2024

  • April 2017 •
  • 65 pages •
  • Report ID: 4825331
KEY FINDINGS
The Asia-Pacific market is expected to report good growth in the years 2017-2024. The Middle East is expected to report highest market growth in the forecast period due to growing threat of terrorism. The global aerostat system market is poised to grow in 2017-2024. Various reasons for the growth of the aerostat system market are increasing demand from military and homeland security sector, low operational cost, the versatility of application, high need for surveillance and reconnaissance and growing use in climatic research and communication.

Aerostat system is a balloon-borne radar that is used for many purposes like surveillance, intelligence, and reconnaissance by the military, law enforcement agencies, and civil bodies. It includes unpowered balloons and powered airships that are tied to the ground station and provide information to the control staff. Use of aerostat for communication and surveillance decreases the fuel costs that are associated with drones and surveillance aircraft.

Aerostat system market is segmented on the basis of payload, balloons, size, applications and geography. The aerostat system balloon can either be elliptical or spheroidal. On the basis of payload, they are classified into communication intelligence, thermal imaging camera, surveillance radar, electro-optics, electronic intelligence and internal navigation systems. Its applications are in home guard security, military, environmental research and commercial sectors.

Market Insights
Market drivers for aerostat system are increasing demand for environmental monitoring, growing defense industry, need for surveillance and reconnaissance, cost-effectiveness, high endurance and high-resolution image transmission capabilities.
On the basis of balloon type, currently, the elliptical balloon aerostat system has the higher market share. However, it is expected that in the forecast period, spheroidal balloon aerostat systems will have a bigger market share and report good growth. The reason for this is better aerodynamics exhibited by these aerostat systems.

Depending on payload, the market is dominated by communication intelligence and it has a moderate market share. With the growth of communication technologies, the communication intelligence market for aerostat is expected to show maximum growth in the forecast period. There is a continuously increasing demand for the surveillance and communication from the surveillance sector.

Military applications dominate the aerostat market systems currently. There is an increased demand from the military sector for these as they are cost effective compared to alternatives such as airships. It is predicted that in the forecast period, there will be increasing demand from the environmental research and home guard security sectors. Dynamic weather conditions have also led to growing demand for weather monitoring. Environmental research is expected to be the fastest growing application segment during 2017-2024.

Factors that will restrain market growth are available alternatives like unmanned aerial vehicles and airships and rough weather challenges for operations that last a long time.

Country=APAC Industry=AerospaceAndDefence ParentIndustry=HeavyIndustry Date=201704 Topic=Forecast Publisher=InkwoodResearch Price=2000