High Altitude Platform Market Industry to Witness Tremendous Growth and Expansion by 2028
The global High Altitude Platform Market is estimated to have a CAGR of 5.20% with a market size estimated to be USD 1.8 billion by 2028.
Dallas, United States – April 25, 2021 /MarketersMedia/ —
Rising requirement of the high altitude in several industries, growing investments in the defense industry as well as rising emphasis on the development and making use of solar energy due to scarcity of the non renewable resources, rising carbon foot print due to excessive pollution, emissions from industries, factories, vehicles along with rising awareness regarding the harm caused to the environment due to global warming and climate change, are the major factors that are fueling the growth of the global high altitude platform market over the forecast period. Further, rising usage of smart phones and other devices such as laptops, tablets and ipads as well as rising availability of internet across various regions around the globe, along with rising usage of various technologies, and their adoption in several industries and factories are the major factors that are further contributing to the expansion of the global high altitude platform market over the next few years.
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Moreover, rising cases of the corona virus pandemic has caused shut down of factories and industries across the globe as well as caused disturbances in the manufacturing and production sector. Further, the pandemic has caused economic slowdown in several countries leading to shutdown of several companies and small businesses which were flourishing before the pandemic. Hence, these factors are likely to hamper the growth of global high altitude platform market over the analysis period.
Taking note of the geographical frame of reference, the global high altitude platform market is fragmented into Saudi Arabia, Germany, India, Egypt, United States, Canada, Turkey, Korea, Philippines, Poland, Nigeria, Netherlands, Sweden, UAE, China, France, Belgium, Thailand, Columbia, Switzerland, South UK, Chile, Australia, Spain, Italy, Malaysia, and Rest of the World. Based on products, the global high altitude platform market is segmented into Unmanned Aerial Vehicles, Tethered aerostat systems, and Airships.
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In terms of the applications, the global high altitude platform market is segmented into EO/IR system, navigation, communication, surveillance, and remote sensing. With respect to the application spectrum, the market is segmented into telemetry (location services), autonomous vehicles, access management, video surveillance, energy management, remote monitoring and predictive maintenance, and others. From a vertical landscape, the global edge AI software market is segmented into government, commercial, & defense, and others.
Based on competitive spectrum, the market is segmented into Lockheed Martin Corporation, AeroVironment, Inc., Aerostar International, Inc., Raytheon Company, TCOM LP, and Lindstrand Technologies Ltd.
Segment Overview of High Altitude Platform Market Market
Product Overview, 2018-2028 (USD Billion)
• Unmanned Aerial Vehicles
• Airships
• Tethered aerostat systems
Application, 2018-2028 (USD Billion)
• Surveillance
• Navigation and remote sensing
• Communication
• EO/IR system
End-User Overview, 2018-2028 (USD Billion)
• Government & Defense
• Commercial
• Others
Regional Overview, 2018-2028 (USD Billion)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
o Saudi Arabia
o South Africa
o UAE
o Rest of Middle East and Africa
• Latin America
o Brazil
o Mexico
o Rest of Latin America
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