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The demand of global aerostat system market is augmented by the growing need for deducing accurate geospatial information and low operational and maintenance costs. Between the projected years of 2018-2026, the market is likely to grow with15.74% CAGR.
The global aerostat systems market is segmented on the basis of payload, balloon type, propulsion system, and applications. Payloads include communication intelligence, electro-optics, thermal imaging camera, surveillance radar inertial navigation system and electronic intelligence. The balloon-type market segment is sub-divided into ellipsoidal balloon and spheroidal ballon. The Propulsion system segment is divided into unpowered aerostat and power aerostat whereas the application segment includes home guard security, military, environmental research, commercial application, etc.
The regional segmentation of the global aerostat market is done into regions like Europe, Asia-Pacific, North America and rest of world. The North American market is expected to dominate the global scene throughout the forecast period owing to the presence of key market companies in the region. The Asia-Pacific market is also predicted to exhibit a steady growth during the course of the forecast period with a major contribution coming from countries like China, India, etc.
Companies like ILC Dover LP, Aerostar International Inc, Israel Aerospace Industries Ltd, Lockheed Martin Corporation, Lindstrand Technologies Ltd, Rosaerosystems, Rt Aerostat Systems Inc, International Ltd, Tcom L.P, Raytheon Company, Worldwide Aeros Corporation, Rafael Advanced Defense Systems Ltd, Augur Rosaerosystems, Raven Industries Inc, Near Space Systems Inc, World Surveillance Group Inc., Aeroscraft Corporation, Harris Corporation, Airborne Industries Limited, Skyship Services Inc, and Hybrid Air Vehicles are engaged in this market.