Global High-Altitude Pseudo Satellites (HAPS) Market is accounted for $45.03 million in 2020 and is expected to reach $89.06 million by 2028 growing at a CAGR of 8.9% during the forecast period. Some of the key factors propelling the market growth include the performance and cost-benefits of HAPS over geostationary satellites, increasing demand for high-capacity bandwidth & wireless services, rising use of advanced materials the adoption of HAPS is significantly high in developing countries, and the absence of critical infrastructure to ensure telecommunication services in remote locations.
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On the basis of geography, North America region was the largest high-altitude pseudo satellites market, and the region will offer several growth opportunities to market vendors during the forecast period, due to increasing surveillance and security-related applications, substantial investments by private companies, and the presence of highly developed infrastructure and several rising startups that collaborate with government agencies to meet the demand for remote sensing and connectivity, both in the defense and commercial sectors. The US is a key market for high-altitude pseudo satellites in North America.
Some of the key players in High-Altitude Pseudo Satellites (HAPS) Market include Lockheed Martin Corp., Thales Group, Alphabet Inc., MAG Aerospace, TAO-Group, The Boeing Co., SZ DJI Technology Co. Ltd., Airbus SE, AeroVironment Inc., AUGUR – RosAeroSystems, Prismatic Ltd., Facebook, Astigan Limited, and Composite Technology Team.
Technologies Covered in High-Altitude Pseudo Satellites (HAPS) Market
• High-Altitude Airships
• Stratospheric Balloons
• High-Altitude Unmanned Aerial Vehicles (UAVs)
Sales Channels Covered:
• Distributor
• Direct Sales
Applications Covered:
• Battlefield Management
• Aerial Reconnaissance
End Users Covered:
• Aerospace
• Defence
• Security
• Military
• Civil Missions
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