A majority of the presence of key players in the global market for aerostat systems
is located in North America and Europe. These regions have consistently
shown a high interest in surveillance strategies and the implementation
of effective and long-term defensive tactics.
The presence of players such as Lockheed
Martin Corporation, Aerostar International, Inc., and RosAeroSystems
International has had a tremendous effect in boosting the demand for
aerostat systems in these regions while simultaneously creating a high
rate of product and material development for the same.
As per a research publication released by
Transparency Market Research, the global market for aerostat systems is
extremely consolidated with only a handful players taking up large
chunks of the market value. Most of these companies directly cater to
the defense sectors of various regions, which is the leading consumer of
aerostat systems.
Most of the demand for aerostat systems by the defense sector is issued in tenders and handled by the more prominent players.
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The global market for aerostat systems is
expected to be valued at US$4.64 bn by the end of 2016 and US$10.10 bn
by the end of 2023. This revenue is expected to expand at a CAGR of
13.8% within a forecast period from 2015 to 2022.
By the end of 2022, the military sector
is expected to generate a demand for aerostat systems valued at US$7.01
bn, making it the dominant application segment of aerostat systems till
then. The military sector is also the leading application segment in
terms of demand expansion, showing a CAGR of 14.0% from 2015 to 2022.
North America Retains Leading Consumption Rate of Aerostat Systems
North America, owing to its strong demand
for aerostat systems from the defense sectors of the U.S. and Canada,
is currently the dominant region in the usage of aerostat systems. This
region is expected to remain the dominant one till 2022, at which time
it is expected to reach US$2.73 bn in aerostat systems revenue.
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On the other hand, Asia Pacific is
expected to show the faster CAGR of 16.2% from 2015 to 2022, owing to
growing border control efforts and surging investments in national
defense agencies.
Aerostat Systems Deemed Far Superior to Surveillance Aircraft Systems
“The inherent advantages that aerostat
systems possess over conventional surveillance aircraft systems are
enough to drive this market towards a satisfactory progress rate. The
key advantage of using aerostat systems at the moment is their cost in
comparison to aircraft and drone surveillance systems. That is because
using aerostat systems reduces fuel consumption to such an extent that
the over difference in expenses is massive,” states a TMR analyst.
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