A majority of the
presence of key players in the global market for aerostat systems is
located in North America and Europe. These regions have consistently
shown a high interest in surveillance strategies and the
implementation of effective and long-term defensive tactics.
The presence of
players such as Lockheed Martin Corporation, Aerostar International,
Inc., and RosAeroSystems International has had a tremendous effect in
boosting the demand for aerostat systems in these regions while
simultaneously creating a high rate of product and material
development for the same.
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As per a research
publication released by Transparency Market Research, the global
market for aerostat systems is extremely consolidated with only a
handful players taking up large chunks of the market value. Most of
these companies directly cater to the defense sectors of various
regions, which is the leading consumer of aerostat systems.
Most of the demand
for aerostat systems by the defense sector is issued in tenders and
handled by the more prominent players.
The global market
for aerostat systems is expected to be valued at US$4.64 bn by the
end of 2016 and US$10.10 bn by the end of 2023. This revenue is
expected to expand at a CAGR of 13.8% within a forecast period from
2015 to 2022.
By the end of 2022,
the military sector is expected to generate a demand for aerostat
systems valued at US$7.01 bn, making it the dominant application
segment of aerostat systems till then. The military sector is also
the leading application segment in terms of demand expansion, showing
a CAGR of 14.0% from 2015 to 2022.
North America
Retains Leading Consumption Rate of Aerostat Systems
North America, owing
to its strong demand for aerostat systems from the defense sectors of
the U.S. and Canada, is currently the dominant region in the usage of
aerostat systems. This region is expected to remain the dominant one
till 2022, at which time it is expected to reach US$2.73 bn in
aerostat systems revenue.
On the other hand,
Asia Pacific is expected to show the faster CAGR of 16.2% from 2015
to 2022, owing to growing border control efforts and surging
investments in national defense agencies.
Aerostat Systems
Deemed Far Superior to Surveillance Aircraft Systems
“The inherent
advantages that aerostat systems possess over conventional
surveillance aircraft systems are enough to drive this market towards
a satisfactory progress rate. The key advantage of using aerostat
systems at the moment is their cost in comparison to aircraft and
drone surveillance systems. That is because using aerostat systems
reduces fuel consumption to such an extent that the over difference
in expenses is massive,” states a TMR analyst.
Additionally, the
lesser number of mechanical parts within an aerostat system also
reduce the maintenance expenses of a user. This perfectly complements
the lesser time taken to assemble and deploy an aerostat system as
compared to drones.
Abundance of
Alternatives Impede Demand Growth of Aerostat Systems
Despite all its
benefits, aerostat systems face a stern competition from alternative
systems such as unmanned aerial vehicles and airships. Airships for
instance are quite similar to aerostat systems, except for the fact
that they possess propellant engines and can therefore give better
mobility.
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On the other hand,
users are beginning to prefer UAVs despite their cost, due to their
high level of accuracy in surveillance and their ability to cover
diverse proportions of areas.
“The future of
aerostat systems lies in the use of next-gen materials. For example,
high performance laminates are being tested that can drastically
improve the ability of aerostat systems to operate under harsh
weathers. Other developments include materials that can significantly
reduce the weight of an aerostat system. These developments can
considerably improve the standing of aerostat systems over their
alternatives, thus increasing the demand for them,” adds the
analyst.
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