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Home » Business » High Altitude Platforms Market 2022- Global Industry Size, Share, Growth, Outlook, Analysis and Forecast – Credence Research
High Altitude Platforms Market 2022- Global Industry Size, Share, Growth, Outlook, Analysis and Forecast – Credence Research

High Altitude Platforms Market 2022- Global Industry Size, Share, Growth, Outlook, Analysis and Forecast – Credence Research

According to a new market research report published by Credence Research “High Altitude Platforms (HAPs) (Communication Systems, Surveillance Systems and Navigation Systems) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the high altitude platforms is expected to witness strong growth due to introduction of HAP-based wireless communication services. The HAPs market is currently governed by the unmanned aerial vehicles (UAV) segment; nonetheless, the airships segment is poised to register high adoption growth in the coming years.

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The global high altitude platforms market was dominated by the UAVs segment accounting for a market share of more than 70%, in terms of revenue, of the total market. High altitude UAVs offer large coverage areas as compared to the aerostat systems and can be easily operated/navigated using a ground-based remote controller. However, due to extremely high costs of these systems, the segment is expected to lose out its share to other segments such as tethered aerostat systems and airships. The demand for aerostat systems is expected to be largely driven by the ongoing HAP-based wireless communication services projects.

Airships are blimps filled in with hot air/helium/hydrogen that can stay aloft for several days and can also be navigated through rotors fixed onboard. These systems combine advantages such as lower costs over UAVs coupled with mobility. Due to these factors, the demand for airships is expected to soar substantially in the coming years.

On the basis of applications, the government & defense segment accounts for the largest share, in terms of revenue, in the global HAPs market. Majority of the HAPs are used for surveillance and communication purpose in the defense sector. Thus, with rising defense expenditure by major nations worldwide, the segment is expected to remain dominant, in terms of revenue, throughout the forecast period. However, the commercial segment is expected to register the highest growth in HAPs market during the forecast period. Commercial applications segment primarily consists aerial imaging, communication and navigation. Due to increasing adoption of HAPs in these applications, the segment is estimated to witness the highest growth in the coming years.

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Some of the leading players operating in the global high altitude platforms market include TCOM L.P., Lockheed Martin Corporation, Raytheon Company, AeroVironment, Inc., Israel Aerospace Industries Ltd., Northrop Grumman Corporation, Aerostar International, Inc. (Raven Industries, Inc.), ILC Dover LP, Lindstrand technologies Ltd., Worldwide Aeros Corporation, Rafael Advanced Defense Systems Ltd. and General Atomics Aeronautical Systems, Inc. (General Atomics, Inc.) among others. Majority of the companies operating in the HAPs market are located in the U.S. and Israel.

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