Press release

Global Aerostat Systems Market 2019-2023 | Rapid Adoption of Sensor Fusion Technology to Boost Demand | Technavio

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The global aerostat systems market is expected to post a CAGR of close
to 18% during the period 2019-2023, according to the latest market
research report by Technavio.

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The global aerostat systems market will post a CAGR of close to 18% during the period 2019-2023 (Gra ...

The global aerostat systems market will post a CAGR of close to 18% during the period 2019-2023 (Graphic: Business Wire)

The aerostat is increasingly being used for various applications
including aerial photography and video recording, internet provision in
remote places, survey and documentation of wildlife, and public
services. The aerostats are equipped with several advanced imagery
payloads consisting of infrared cameras, live feed, and others. The
aerostats are mainly used to combat cross-border trespassing in extreme
climatic conditions, where surveillance by personnel is difficult.
Aerostats are also being increasingly used by law enforcement agencies
for aerial monitoring of crowds at major events. Such deployments are
anticipated to drive the demand for aerostat systems during the forecast
period.

As per Technavio, the rapid adoption of sensor fusion technology will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
aerostat systems market 2019-2023
research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

Global aerostat systems market: Rapid adoption
of sensor fusion technology

With the deployment of sophisticated sensors, the aerostat has become
capable of delivering high-resolution reconnaissance data. Therefore,
vendors are focusing on miniature EO/IR payloads that offer enough heat
dissipation and conform to the industry standards; without compromising
on the performance. The adoption of sensor fusion technologies will
result in the emergence of an assortment of advanced sensors, which can
swiftly and efficiently process data with the help of onboard software
support. The amalgamation of data from multiple sensors eliminates the
need for the deployment of trained professionals for data parsing and
cuts down the time required for the transition of raw data into
actionable information.

“Digitization has become one of the emerging trends in the
battlefield operations. Digitization of domains, such as communication
and surveillance play a vital role in the integrated operations of the
modem battlefield. Aerostats provide automated remote areas target
monitoring and surveillance through map-based situation awareness
displays. Aerostats are cost-effective and are the ideal testbed for
emerging technologies,”
says a senior analyst at Technavio.

Global aerostat systems market: Segmentation
analysis

This market research report segments the global aerostat systems market
by type (balloons, airships, and hybrid airships) and geographic regions
(APAC, Europe, MEA, North America, and South America).

The balloons segment held the largest aerostat systems market share in
2018. The balloons are helium or hydrogen-filled elliptical or
spheroid-shaped hollow structures that are used for atmospheric and
climatic research, weather surveillance, remote sensing, and
submillimeter astronomy.

North America region led the market in 2018 with a market share of more
than 28%, followed by Europe, APAC, South America and MEA respectively.
The vast expanse of national borders of countries such as the US
necessitates the deployment of alternate surveillance equipment aboard
aerostats and UAVs to ensure continuous coverage in regions that are
unreachable by patrol forces. This is increasing the demand for aerostat
systems in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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