Tethered Aerostat Systems Market Overview
Tethered aerostat systems market is increasing at a continuous pace owing to a vast pool of factors. This includes the easy to deploy nature, its wide range of applications, cost-effectiveness, low personnel expertise, and low operational costs. It is reported that there is a strong demand from homeland and military security for intelligence, surveillance, and reconnaissance, thereby leading to new investments. The aerostat systems that are used in the US army program named as persistent ground surveillance system has a low operating cost as compared to using UAV. This is expected to contribute to the overall growth of the market. In recent years, it has been noticed that vendors are facing high level of acquisition risk owing to challenges like overweight components and difficulties in software development.
Due to aerostats being lighter than air vehicles, they face significant operational hazards. Lightning, visibility, and wind speed are some of the major factors limiting the capabilities of the aerostat system market.
In a study undertaken by the team of Market Research Future (MRFR), it was revealed that the global aerostat systems market is expected to grow notably during the forecast period between 2017 and 2023. The report states that the global market will garner a compound annual growth rate of 13% during the mentioned review period.
Tethered Aerostat Systems Market Segmentation
The global aerostat systems market segmentation is done in terms of class, product type, and payloads.
By product type, the market includes hybrid, balloon, and airship.
By payloads, the market segments into radar, EO/IS, thermal imaging camera, CI, and INS.
By class, the market comprises mid-sized, large-sized, and compact-sized class types.
Tethered Aerostat Systems Market Competitive Landscape
The global aerostat systems market includes a host of prominent players, including Lockheed Martin Corporation (U.S.), AUGUR - RosAeroSystems (Russia), Lindstrand Technologies Limited (U.S.), Aero Drum Ltd (U.K), Raven Industries Inc. (U.S.), Drone Aviation (U.S.), RT LTA systems ltd (Israel), TCOM L.P (U.S.), Raytheon Company (U.S.), ILC Dover (U.S.) and others. The players in the market are springing out new strategies and investing in research and development activities to strengthen their positioning in the global landscape or to edge past their immediate competitors. The players are expected to continue applying their strategies and contribute to the overall welfare of the aerostat systems market.
Access Report Details @ https://www.marketresearchfuture.com/reports/aerostat-systems-market-1302