The global aerostat systems market, valued at US$ 11.0 Billion in 2021, is projected to grow at a CAGR of 12.9% from 2022 to 2027, driven by R&D and military applications.
According to the latest report by IMARC Group, titled “Aerostat Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global aerostat systems market reached a value of US$ 11.0 Billion in 2021. Aerostats represent low-level airborne systems utilized for ground surveillance. They consist of large fabric envelopes filled with helium or hot air and are capable of reaching around 4,600 m in height. Aerostat systems aid in lifting light payloads and are commonly used as tactical airborne platforms for different scientific equipment, including radar systems, communication equipment, cameras, etc. They are designed and manufactured based on specific parameters, such as operating temperature, wind speed, altitude, payload carrying capacity, etc. Aerostat systems are also cost-effective, durable, eco-friendly, etc.
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The increasing number of research and development (R&D) activities aimed at improving the product performance in adverse environmental conditions, including extreme cold or heat, is primarily driving the aerostats systems market. Moreover, numerous organizations are utilizing intelligent video surveillance systems owing to their various advantages, such as object recognition and video analytics, and thereby further catalyzing the market growth. Apart from this, the escalating demand for high-quality aerostat systems on account of the growing territorial disputes is augmenting the global market. Furthermore, the government bodies of several countries are promoting the product utilization for various military applications, including reconnaissance and border security. This, in turn, is expected to propel the aerostat systems market across the globe over the forecasted period. Looking forward, IMARC Group expects the market to grow at a CAGR of 12.9% during 2022-2027.
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The article discusses the global trends, growth, and forecast of the aerostat systems market from 2022 to 2027.
The market is driven by R&D activities, demand for high-quality systems, and government use in military applications.
The aerostat systems market is expected to grow at a CAGR of 12.9% during 2022-2027.
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