DUBLIN–(BUSINESS WIRE)–The “High Altitude Platforms – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for High Altitude Platforms estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$4.3 Billion by 2026, growing at a CAGR of 5.8% over the analysis period.
Unmanned Aerial Vehicles (UAV), one of the segments analyzed in the report, is projected to grow at a 5.7% CAGR to reach US$3.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Airships segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 19.8% share of the global High Altitude Platforms market. UAVs, referring to remote controlled or autonomously piloted aircrafts, have emerged as a major force in high altitude platforms market.
The UAV segment commands a leading position, owing to high cost of aircraft that results in high revenue per unit along with increasing adoption of UAV aircraft in several countries including the US, France, Russia and China. An airship is a big gas balloon whose weight is lighter than air, which is navigated with the use of engine-based propellers. Spending on automated technologies is steadily increasing in countries such as the US, the UK, China, Israel, South Korea, Russia and India among others. The scenario continues to augment the market prospects for high altitude platforms, which leverage payloads such as airships to enable data exchange across multiple devices and systems.
The U.S. Market is Estimated at $967.6 Million in 2021, While China is Forecast to Reach $722.9 Million by 2026
The High Altitude Platforms market in the U.S. is estimated at US$967.6 Million in the year 2021. The country currently accounts for a 30.58% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$722.9 Million in the year 2026 trailing a CAGR of 6.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.1% respectively over the analysis period.
Select Competitors (Total 47 Featured) –
- AeroVironment, Inc.
- Airbus SE
- Elektra Solar GmbH
- ILC Dover, LP
- Lindstrand Technologies Ltd.
- Lockheed Martin Corporation
- Prismatic Ltd.
- Raven Industries, Inc.
- Raytheon Technologies Corporation
- RT LTA Systems Ltd.
- TCOM, L.P.
- Thales Group
- Worldwide Aeros Corporation
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- High Altitude Platforms – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Pandemic Affects the Military & Defense Sector
- Global Defense & Related Technologies Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- High Altitude Platforms Market to Exhibit Steady Growth following COVID-19 Whiplash
- High Altitude Platforms: Stratosphere-Floating Telecommunication Stations as Alternative to Satellites
- Types of High Altitude Platforms & Design Considerations
- Technical Challenges
- High Altitude Platforms: Primary Applications
- Global Market Prospects & Outlook: Fueled by Escalating Demand, High Altitude Platforms Market to Hog the Spotlight
- World High Altitude Platforms Market by Application (2021 & 2027): Percentage Breakdown of Revenues for Government & Defense, and Other Applications
- Growing Roaster of Drivers to Favor Expansion of High Altitude Platforms Market
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- High Altitude Platforms Hold Potential for Use in Diverse Applications
- High Altitude Platforms Hold Capability to Augment Data Services
- High Altitude Platform Enabled Broadband to Benefit Rural and Remote Population
- Wide Coverage and Lower Costs Rev Up Opportunities
- Mitigation of Technological Challenges Critical to Greater Adoption
- Design Advancements Make Airships More Relevant
- Aerostats Seek to Extend Footprint in Military Applications
- UAVs Widen the Addressable Market for High Altitude Platforms
- Global Civil Drone Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
- High Altitude Military Surveillance: Major Application of UAVs
- GCS Advancements Augment the Image of High Altitude UAVs
- Growing Security Concerns Drive Military UAV Deployments in High Altitude Surveillance
- Government & Defense: Dominant Application Segment
- Healthy Defense Spending to Amplify the Need for High Altitude Platforms: Projected Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
- Military Expenditure as a % of GDP in Select Countries
- Slowdown in Defense Spending to Impede the Demand for Military High Altitude Platforms
- Japan Defense Budgets: A Pre & Post COVID-19 Comparison (In US$ Billion)
- UK Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion)
- Commercial Sector Investments on High Altitude Platforms Continue to Rise
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/yz0scf
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900