High Altitude Platforms Market to Reach US$ 5.2 Bn by 2022
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 global high altitude platforms market was valued at US$ 2,508.6 Mn in 2014 and is estimated to expand with a CAGR of 9.5% from 2015 to 2022.
Browse the full report (High Altitude Platforms (HAPs) Market – Growth, Share, Opportunities & Competitive Analysis, 2015 -2022) at http://www.credenceresearch.com/report/high-altitude-platforms-haps-market
Market Insights
High altitude platforms (HAPs) are airborne stations that are placed at an altitude ranging more than 50,000 feet from the Earth’s surface. These platforms typically operate in stratosphere which is way higher than the altitudes at which commercial aircrafts fly. Prime purpose behind placing these platforms in high altitude category is availability of larger coverage areas coupled with suitable wind speeds available at this altitude. The platforms are equipped with different payloads depending upon the desired application. These systems are also referred to as cheaper alternatives to satellites.
Based upon the product types, the market is segmented into airships, tethered aerostat systems and unmanned aerial vehicles (UAVs). Currently, UAVs segment accounts for the largest share, in terms of revenue, of the global HAPs market. Nevertheless, due to their extremely high costs and relatively lesser flight hours, most of the countries worldwide are now moving towards airships and tethered aerostat systems. These platforms are capable of staying aloft for several days with minimal maintenance required. Also, these systems are capable of carrying payloads weighing up to 2.5 tons. Airships also offer provision of mobility which makes its suitable for covering larger coverage areas. Thus, in the coming years, airships and aerostat systems segments are expected to expand substantially in the global market.
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Competitive Insights:
The global high altitude platforms market is quite fragmented in nature with very few companies operating across all the three segments viz. airships, aerostat systems and UAVs. Nevertheless, the markets for individual products are competitive in nature with most of the players focusing on the betterment of their product portfolios. Most of the HAPs companies are located in the U.S., Israel and China. These companies primarily focus on acquiring contracts from the U.S. and China defense sectors which are among the largest consumers of HAPs worldwide.
Key Trends:
Adoption of tethered aerostat systems for delivering wireless communication services
Development of high altitude UAVs with longer flight hours
Focus on acquiring international customers for HAPs
Development of solar-powered HAPs
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