According to Stratistics MRC, the Global High Altitude Platforms Market is accounted for $3.10 billion in 2020 and is expected to reach $5.65 billion by 2028 growing at a CAGR of 7.8% during the forecast period. The rise in the expenditure on surveillance systems and growing defense expenses are the major factors propelling the market growth. However, high costs and poor technological infrastructure is hampering the market growth.
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By geography, North America is going to have lucrative growth during the forecast period. Improved adoption and penetration of UAV aircraft in the region by various governmental and private organizations are driving the market growth. Furthermore, increased adoption for military purposes by countries like U.S. and Canada is increasing the investments inflow.
Some of the key players profiled in the High Altitude Platforms Market include AIRBUS SAS, Aeros, AeroVironment, Inc., Avealto Ltd., ILC Dover LP, Israel Aerospace Industries (IAI), Lindstrand Technologies Limited, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raven Industries, Inc., Raytheon Technologies Corporation, Tcom L.P., and Thales Group.
Types Covered:
• Tethered Aerostat Systems
• Airships
• Unmanned Aerial Vehicles (UAV)
Payloads Covered:
• Communication
• Navigation
• Surveillance
• Electro-Optical/Infra-Red (EO/IR) Systems
End Users Covered:
• Commercial
• Government & Defense
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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