Forecast To Reach $1.98 Billion By 2029

According to a new market intelligence report by BIS Research titled "Global High-Altitude Aeronautics Platform Station Market, Analysis & Forecast, 2019-2029", the HAAPS market generated $600.7 million revenue in 2018  and is expected to reach $1.98 billion by 2029. The HAAPS market is projected to grow at a CAGR (Compound Annual Growth Rate) of 11.80%, during the forecast period from 2019-2029. HAAPS is considered to be a powerful technology, which has competitive advantage over conventional satellites and terrestrial-based systems. On the basis of platform, HAAPS are categorized as unmanned aerial vehicles, airships, and balloons.

Browse 23 market Data Tables and 121 Figures spread through 180 Pages and in-depth TOC on "Global High-Altitude Aeronautical Platform Station (HAAPS) Market"

The global HAAPS market is driven by several factors such as increasing global defense spending for public safety and competitive advantage over conventional satellites and terrestrial-based systems. Moreover, the high demand for solar power technologies and growing demand for HAAPS technology for various applications are driving the overall sales of HAAPS.

The key manufacturers of HAAPS are actively engaging in partnerships, contracts, and joint ventures strategies to develop innovative solutions into the market. According to the BIS Research analysis, the global HAAPS market was estimated $600.7 million in 2018.

With the increasing growth opportunities around HAAPS, various companies operating in this industry are compelled to come up with collaborative strategies in order to expand their businesses. Moreover, extensive R&D activities and compliant regulatory environment are also prerequisites for sustained growth of the market. Lockheed Martin, Airbus, Raven Aerostar, Thales Alenia Space, and Bye Aerospace, and Loon are some of the key manufacturers of HAAPS.

The HAAPS system is majorly used by commercial, government, and military forces. Commercial segment is expected to register the highest CAGR during the forecast period (2019-2029), owing to the increasing developments in HAAPS for telecommunication and space tourism applications. The market share of military end user segment is also anticipated to increase considerably during the forecast period.

According to Sudheer Uniyal, Lead Analyst, BIS Research, "The growing need for high altitude balloons to provide internet connectivity in the remote areas is likely to push the development of HAAPS. The UAV platforms dominance in the HAAPS market is mainly due to huge requirement of UAV platforms in military forces. Different high-altitude platforms such as balloons and airships are used for several applications such as aerial reconnaissance, broadcasting, communication, and space tourism, thereby driving the growth of the high altitude platforms market."

The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including company overview, financials, financial summary, and SWOT analysis. The overall market has been segmented on the basis of platform into unmanned aerial vehicles, airships, and balloons. Another segmentation has been done based on end users into commercial, government, and military. The report also includes a comprehensive section on the geographical analysis including country-wise analysis for more than nine countries.

This report is a meticulous compilation of research on more than 50 players in the HAAPS ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 10 leading companies, market participants, and vendors. The report also profiles around 15 companies, namely Airbus, AeroVironment Inc., Airstar, AlphaLink, Augur RosAeroSystems, Avealto Inc., Bye Aerospace, Elektra Solar GmbH, ILC Dover L.P., Lockheed Martin Corporation, Loon, Raven Industries, Thales Group, Worldview, and Zero2Infinity.

(Source: BIS Research news release. Image from file)

FMI: BIS Research Report