According to a new market research report, "Aerostat Systems Market by Aerostat Class (Small, Medium, Large), by Balloon Type (Spheroidal, Ellipsoidal), by Payload (Electro-Optics , Thermal Imaging Camera , Electronic Intelligence, Surveillance Radar, INS), by Geography (North America, Europe, APAC, Latin America, Middle East) - Market Forecast & Analysis to 2013 - 2020", the Aerostat Systems Market is projected to rise from $3.93 Billion in 2014 to $9.96 Billion by 2020, at an estimated CAGR of 16.68%.
Browse 81 market data Tables and 42 Figures spread through 175 Pages and in-depth TOC on "Aerostat Systems Market".
An aerostat is a platform that uses a buoyant that is lighter than air gases such as helium, hydrogen, and hot air. These gases lift the tethered balloon with nearly the same overall density as air. The key structural components include a lightweight skin envelope that contains helium gas to provide buoyancy, payload, and a ground control station. Depending on the application of the aerostat systems are the different payloads attached such as electro-optics, communication intelligence, thermal imaging camera, electronic intelligence, surveillance radar, and inertial navigation system.Speak to Analyst @ http://www.marketsandmarkets.com/speaktoanalyst.asp?id=193315635
The increasing demand for border security and continuous surveillance operations in order to keep a check on enemy activities is the main reasons for the growth of this market in the Gulf countries. For instance, in response to the on-going threats to the U.S. troops deployed in Afghanistan and Iraq, the U.S. Army has deployed the Rapidly Elevated Aerostat Platform (REAP) in these countries for monitoring and protection purposes.
The global aerostat systems market is dominated by the countries in the North America, Asia-Pacific, and the Middle Eastern regions. An increase in the defense budgets in countries such as China, India, and South Korea will fuel the growth of this market in the defense segment. Low costs involved in the deployment and operation of these aerostat systems is the major driver for this market.
The aerostat systems market is estimated at $3.93 billion in 2014 and is projected to register a CAGR of 16.68% to reach $9.96 billion by 2020.
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The increasing demand for small aerostat systems drives the growth of this market in the countries such as India and China. At present, Akashdeep, Nakshatra, and Chakshu are the major programs for aerostat development that are being conducted in India. These systems are capable of providing a persistent intelligence, surveillance, and reconnaissance (ISR) facility that adheres to the military requirements of the country.
The increasing demand for the Tethered Aerostat Radar System (TARS) and Persistent Threat Detection System (PTDS) drives the growth of the aerostat systems market in North America. Currently, there are eight operational TARS that have been deployed in the southwest border of the U.S. in order to monitor drug trafficking. This market is expected to increase in future with the expanding security coverage in other parts of the country. The demand for PTDS will grow with the increasing need to provide ground forces with situational awareness against Improvised Explosive Devices (IEDs) and incoming missiles.
Aerostats are capable of providing low-cost, long-endurance surveillance capabilities not possible with other types of aircraft. Attached by a high-strength cable to a mooring system, aerostats may carry different types of surveillance sensors to conduct multiple missions. They are filled with helium and stay airborne around-the-clock. The increasing demand for the Tethered Aerostat Radar System (TARS) drives the growth of aerostat systems market in North America. Currently, there are eight operational TARS that have been deployed in the southwest border of the U.S. in order to monitor drug trafficking. This market is expected to increase in future with the expanding security coverage in other parts of the country. Lockheed Martin has extensive experience with aerostats, serving as the systems integrator and operations and maintenance provider for the Tethered Aerostat Radar System (TARS).
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Akashdeep, Nakshatra, and Chakshu are the major programs for aerostat development that are being conducted in India and all these programs are mainly focused on the development of small aerostat systems. Small aerostat systems are capable of providing persistent intelligence, surveillance and reconnaissance (ISR) facility adhering to the military requirements of the country. The low operational cost involved in the deployment and the increasing demand for small aerostat drives the growth of this market in Asia-Pacific region.
Lockheed Martin (U.S.), TCOMP L.P (Columbia), Raven Aerostar (U.S.), ILC Dover(U.S.), Raytheon Company (U.S), AUGUR-RosAeroSystems (Russia), RT (Israel), Exelis (U.S.), Sky Sentry (Colorado), and LTAS (U.S.) are some of the leading players in this market.
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