Visiongain Publishes Aerostat Systems Market Report 2021-2031
09 November 2020
Aerostat Systems Market Report: Forecasts by Type (Balloon, Airship, Hybrid), by Propulsion (Powered Aerostats, Unpowered Aerostats), by Size (Small, Medium, Large), by Payload (Surveillance Radar, Inertial Navigation Systems, Camera, Communication Systems, Electro-Optic/Infrared Sensor, Electronic Intelligence) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Aerostat Systems market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031. The growth of this market can be attributed to growing need for surveillance capabilities across remote areas, persistent surveillance for a longer duration and testing of Aerostat systems in various military applications. The need for enhanced situational awareness across remote areas is growing and is one of the major factors attributing to the growth of aerostat systems. In addition to this, deployment of aerostat system for carrying repeaters, radio communication devices, to set up emergency communication in remote areas is also anticipated to propel the aerostat systems market. Aerostat systems have been traditionally used for ISR applications and for other military applications such as communications relay, atmosphere testing and radio frequency jamming. With such capabilities it is expected that the aerostat system may grow during the forecast period 2021-2031.
Aerostat systems have the capability to provide persistent surveillance for longer durations. These systems offer enhanced performance with a low operational cost, and minimal maintenance. In addition to this, these systems can be integrated with IMSI Modules and long range EO/IR cameras to enable round the clock coastal security. With such capabilities, it is anticipated that the demand for aerostat systems may grow during the forecast period.
COVID-19 Impact on Aerostat Systems Market
The COVID-19 outbreak has created a huge impact across the globe. Due to this pandemic, lockdown has been implemented by various countries so as to curb the increase of this disease. As such, there was no available manpower which has caused a delay as well as stoppage in the production of systems. This delay has caused a ripple effect in the product delivery and hence impacted the various programs initiated by the defense sector.
The players operating in the aerostat market is few and hence only some of key players occupy the market share. Some of the company’s profiled in this report include Lockheed Martin Corporation, Exelis Inc., Raytheon Company, Israel Aerospace Industries (IAI), Lindstrand Technologies Limited, Tcom L.P., Aero Drum Ltd, Raven Industries Inc., ILC Dover, L.P. and Allsopp Helikites Ltd.
• In June 2019, Peraton received a Tactical Aerostat Systems (TAS) contract from the U.S. Department of Homeland Security (DHS), Customs and Border Protection (CBP), U.S. Border Patrol (USBP). Under the TAS program, Peraton will help provide round-the-clock regional domain awareness and long-range persistent ground surveillance along the United States–Mexico border. The five year contract, is worth USD 185.8 million, is comprised of one base with four option years.
• In September 2019, TCOM, L.P. received a contract worth USD 978.94 million from US Department of Defense (DoD) to support the Persistent Surveillance Systems – Tethered (PSS-T) programme. The contract will be till June 2024, wherein, TCOM will provide engineering, logistics, operations and programme management services.
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