The latest report on “High Altitude Platforms Market (Type – Airships, Tethered Aerostat Vehicles, and Unmanned Aerial Vehicles (UAV); Payload – Communication, EO/IR Systems, Surveillance, and Navigation; Application – Government & Defense, Commercial, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global high-altitude platforms market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
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High altitude platforms are the ones that are deployed in the stratospheric layer which is far higher than the altitude where commercial aircraft operate. Such platforms are used for several applications, including communication systems, persistent surveillance, and navigation. Along with these, high altitude platforms are also used for applications such as aerial imaging, environmental monitoring, and Internet services. The high-altitude platforms are also known as alternatives to satellite systems owing to their capacity to fulfilling similar purposes.
Operational Advantages Over the Coverage Area Provided by High Altitude Platforms Contribute to the Growth of High-Altitude Platforms Market
The increasing defense expenditure worldwide drives the growth of the high-altitude platforms market. The operational advantages over the coverage area provided by high altitude platforms contribute to the growth of the high-altitude platforms market. The increasing demand for internet services globally boosts the growth of the high-altitude platforms market. The growing airline industry propels the growth of the high-altitude platforms market. High altitude platforms are utilized to deliver wireless internet services that contribute to the growth of high-altitude platforms market.
Furthermore, growing surveillance systems expenditure stimulates the growth of the high-altitude platforms market. On the other side, high operating and initial costs of UAV aircraft hamper the growth of the high-altitude platforms market. Moreover, research and development in the market of the high-altitude platform create several opportunities for the growth of the high-altitude platforms market.
North America is Expected to Hold a Premium Share in the Global High-Altitude Platforms Market
Based on geography, the global high-altitude platforms market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold a premium share in the global high-altitude platforms market. The high UAV aircraft penetration in North America region contributes to the growth of the high-altitude platforms market.
Asia-Pacific region is anticipated to grow in the global high-altitude platforms market with a significant CAGR over the forecast period. The increasing investments for the adoption of high-altitude platforms in developing countries such as India, China stimulates the growth of the high-altitude platforms market. Europe is showing growth in the global high-altitude platforms market.
The report on the global high-altitude platforms market covers segments such as type, payload, and application. On the basis of type, the sub-markets include airships, tethered aerostat vehicles, and unmanned aerial vehicles (UAV). On the basis of payload, the sub-markets include communication, EO/IR systems, surveillance, and navigation. On the basis of application, the sub-markets include government & defense, commercial, and other applications.
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The report provides profiles of the companies in the market such as ILC Dover LP, AeroVironment, Inc., Israel Aerospace Industries Ltd., Worldwide Aeros Corporation, Lockheed Martin Corporation, TCOM LP, Raytheon Company, Aerostar International, Inc., Lindstrand Technologies Ltd., Rafael Advanced Defense Systems Ltd., and other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the high-altitude platforms.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.