Global Stratospheric UAV Payload Technology Market Research Report?Forecast till 2024
The Global Stratospheric UAV Payload Technology Market is accounted to register a 3.85% CAGR during the study period. The Stratospheric UAV payloads are four main types namely signals intelligence (SIGINT), electronic intelligence (ELINT), communication intelligence (COMINT), and telemetry intelligence (TELINT). These UAV payloads are primarily used in military, commercial and scientific applications owing to the use of technologies such as imagery and sensing, persistent communication, and direct broadcast TV and radio. The UAVs are predicted as the next generation of aerial platforms established by defense forces around the world. Nowadays the unmanned aerial systems (UAS) for electronic attacks (EA), destruction of enemy air defense (DEAD), suppression of enemy air defense (SEAD), communication transfer, combat search and rescue (CSAR), and intelligence, surveillance, and reconnaissance (ISR) operations is increasing. The rising demand for such unmanned systems and payloads is nourishing the profitable expansion in combat missions against terrorism, especially in countries such as Iraq and Afghanistan.
The demand for Stratospheric UAV Payload technology systems is estimated to obtain substantial growth because the defense forces around the world are contributing to these systems to control terrorism and reduce troop accidents. The increasing number of internal and external security risks and the rising requirement for boarder monitoring are some of the major factors propelling the global stratospheric UAV payload market. The military segment of the global Stratospheric UAV Payload technology exhibited the largest market share of 58.9% in 2018, with a market value of USD 276.2 million.
The Global Stratospheric UAV Payload Technology Market has been segregated by type, technology, platform, and region. Based on the type segment the market is classified into Signal Intelligence (SIGINT), Electronic Intelligence (ELINT), Communication Intelligence (COMINT), and Telemetry Intelligence (TELINT). Based on technology type, the market has been segmented as imagery and sensing, persistent communication, and direct broadcast TV and radio. By the platform segment, the market has been divided into military, commercial, and scientific.
Geographically, the global stratospheric UAV payload technology market has been categorized, into North America, Europe, Asia-Pacific, and the rest of the world.
In 2018, North America was evaluated for the largest market share of 49.07% of the global stratospheric UAV payload technology market and the region is anticipated to command the global market during the review period. the region is accounted to register a significant market growth to exhibit a CAGR of 3.09% during the study period. Europe held the second-largest market share followed by Asia-Pacific owing to the adoption of technological advancements in the military and defense sector and rising military expenditure. Asia-Pacific is evaluated to be the fastest-growing market for stratospheric UAV payload technology during the forecast period.
The Major Players in the Global Stratospheric UAV Payload Technology Market are Airbus SAS (Netherlands), The Boeing Company (US), Lockheed Martin Corporation (US), QinetiQ Group PLC (UK), Thales Group (France), Arca Space Corp. (US), Near Space Systems, Inc. (the US), and OpenStratosphere SA (Switzerland).
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