Some of the prominent players in the airships market are Airborne Industries Inc., Lindstrand Technologies, Hybrid Air Vehicles Ltd., GEFA-FLUG GmbH, and Information Systems Laboratories Inc, says Transparency Market Research.
Analysts have observed that the market is expected to witness several emerging players in the coming few years. This is expected to intensify competition in the coming years.
According to a research report by TMR, the global airships market is likely to surpass valuation of US$273.2 mn by the end of 2024. The market is expected to rise at a CAGR of 6.5% during 2016 – 2024. The analysts observed the market at a valuation of US$152.8 million in 2015
On the basis of geography, North America is expected to dominate the airships market during the forecast period. This is mainly due to the increasing applications of the airships for the product marketing and branding purpose in the region. Based on type, the market is segmented into rigid airships, semi rigid airships, and non-rigid airships. Among all these, the non-rigid airships segment is anticipated to hold maximum share due to their low price. Moreover, light weight of the non-rigid airships makes them suitable for marketing purpose. Therefore, several marketing agencies are opting for them.
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Airships have been used for many years but high costs of hydrogen fuel hampered their mass adoption in past. Recently there have been many advancements in the hydrogen fuel generation and distributions. This has revived the airship market. Thus airships are reconsidered by the players and returned to the skies. The increasing adoption by the market leaders is a prominent factor expected to drive the airships market in the coming few years.
The global airships market has been segmented by construction type, application and geography. By construction type, the market has been categorized into rigid airships, semi rigid airships and non-rigid airships. Non-rigid airships are strong demand because of their lower cost. Additionally, these airships are preferred for advertisements due to their light weight design. In terms of application, the airships market has been segregated into surveillance, research, commercial tours, advertisements and cargo transport among others. The advertisement and surveillance segment has the maximum demand for airships. The demand in advertisement is attributed by the large exposure gained due to more area coverage of the advertisements displayed in the middle of the sky. Furthermore, the increasing demand for safety has created the need for surveillance of large areas. These factors are pushing the demand for airships in these segments.
Global Airships Market: Regional Outlook
By region, the airships market has been segmented into North America, Europe Asia Pacific, Middle East and Africa and Latin America. North America and Europe is expected to dominate the airships market regionally. The dominance of this region is due to the presence of developed countries like the U.S., U.K. and Germany where maximum research and development and manufacturing facilities are present for airships.
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To get a better understanding of the global airships market, the market dynamics have been provided which discusses the drivers, restraints and the opportunities present in the market. Furthermore, the key trends effecting the growth of the airships market have also been provided. In addition, the market challenges associated with the development of airships has also been analyzed in the report.
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