Global High Altitude Platforms Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global High Altitude Platforms Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global high altitude platforms market report has been segmented on the basis of platform, payload, end-use, and region.
Global High Altitude Platforms Market: Overview
High altitude platforms is knowns as object that positioned at very high place which is more than 50,000 feet from earth surface. This high altitude platform is deployed at very stable layer which is known as stratospheric layer where commercial aircraft operates. High altitude platforms is utilized in marine as well as land-based application and is able to cover large amount of surface area. It is widely known as a best alternative to satellites due to their similar capabilities.
Global High Altitude Platforms Market: Dynamics
High altitude platforms offers more advantage as compared to satellite technology is a major factor expected to drive growth of the global high altitude platforms market. In addition, lower operational cost, shorter turn-around times as compared to satellite technology, and compatible payloads with existing infrastructure that makes high altitude platforms preferable to satellite systems are other factors expected to drive growth of the global high altitude platforms market.
Increasing expenditure for surveillance purpose is another factor projected to boost growth of the global high altitude platforms market. Moreover, high altitude platforms are majorly used in military and defence and various others applications such as for surveillance, navigation, communication systems, environmental monitoring, aerial imaging and internet services. Furthermore, increasing permeation of internet services and increasing usage of high altitude platforms in order to execute wireless internet services are factors projected to drive growth of the global high altitude platform market.
However, challenges related to operational cost and maintenance cost of high altitude platforms is a major factor expected to drive growth of the target market. Even though price of high altitude platform is low as compared to satellite technology, the initial set-up cost and operating cost is another major factor expected to hamper growth of the global high altitude platform market. In addition, factors such as difficulty in handling, restriction on payload weight, and low rate of deployment are factors projected to hinder growth of the global high altitude market.
Global High Altitude Platforms Market: Segment Analysis
Among platform segments, the unnamed aerial vehicles (UAV) segment is expected to account highest revenue share in the global high altitude platform market. High cost of this platform type has resulted into high cost per unit and high adoption in emerging countries are factor expected to drive revenue growth of the UAV segment.
Among payload segments, the navigation & remote sensing segment is expected to account highest revenue share in the global high altitude platform market.
Global High Altitude Platforms Market: Region Analysis
North America market is projected to account for highest revenue share in the global high altitude platforms market. Increasing adoption of unnamed aerial vehicles (UAV) in North America is a major factor expected to drive growth of the target market in this region.
Furthermore, Asia Pacific market is expected to register significant revenue growth in coming years, owing to high adoption rate of UAV by various countries in this region such as India, China, and South Korea.
Global High Altitude Platforms Segmentation:
Segmentation by Platform:
- Unmanned Aerial Vehicles (UAV)
- Tethered Aerostat Systems
Segmentation by Payload:
- Navigation & Remote Sensing
- EO/IR System
Segmentation by End-use:
- Government & Defense
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- TCOM L.P.
- Lockheed Martin Corporation
- Raytheon Company
- Aerostar International, Inc.
- Lindstrand Technologies Ltd.
- ILC Dover LP.
- Israel Aviation Industries Ltd.
- AeroVironment, Inc.
- Worldwide Aeros Corporation
- Rafael Advanced Defense Systems Ltd.
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