The Asia-Pacific aerostat systems market stood at $1653 million in 2017. The market is now poised to rise at 16.54% CAGR for the forecast period of 2018-2026 and is anticipated to raise a net total of $6474 million by the end of 2026.
The development of next-generation material and technologies such as the hull and ballonet, coupled with the growing integration of aerostats technologies in co-ordinance with missile defense is presenting the Asia-Pacific market with several growth opportunities. The Japanese market accounted for the highest share in 2017. Japan is employing the JLENS aerostat sensor surveillance competence for tracking and fire control in pursuit to defend airspace and island territory which is frequently confronted by its neighboring countries. However, it is the Indian market that is predicted to exhibit the highest CAGR by the end of 2026. In the long run, factors like payload related restrictions in the region and limitations concerning operational altitude could challenge the Asia-Pacific market growth.
Some of the leading companies in this market include Israel Aerospace Industries Ltd, World Surveillance Group Inc., Hybrid Air Vehicles, ILC Dover LP, Raven Industries Inc, Worldwide Aeros Corporation, Skyship Services Inc, Aerostar International Inc, Lindstrand Technologies Ltd, Airborne Industries Limited, Rafael Advanced Defense Systems Ltd, Rosaerosystems, and Lockheed Martin Corporation.