Aerostat Market

Description

The aerostat market is anticipated to grow from US$ 9.17 billion in 2024 to US$ 16.70 billion by 2031, reflecting a compound annual growth rate (CAGR) of 9.07% during the period from 2031 to 2031. A significant trend driving this market is the rising demand for cargo airships capable of carrying heavy payloads.

Aerostat Market Analysis

There is a notable surge in demand for aerostats among military forces and the commercial sector. This demand for advanced aerostat technology has prompted governments worldwide to encourage companies to innovate and develop robust solutions to meet end-user needs. Manufacturers and military organizations tend to favor established aerostat component suppliers, leading to most contracts being awarded to recognized industry players, which limits opportunities for new entrants. Nevertheless, start-ups in various regions are entering the market with their aerostat offerings, indicating a moderate threat to new entrants in this sector.

Aerostat Market Overview

The aerostat industry is characterized by well-established and recognized companies. Competition among industry players is moderate but is expected to intensify during the forecast period due to the entry of new competitors. The demand for advanced aerostat technology is increasing as governments invest significant resources into this area, thereby heightening competition among market participants.

Strategic Insights

Aerostat Market Drivers and Opportunities

Growing Emphasis on Cost-Effective Surveillance Solutions

Military departments in various countries are increasingly focusing on economical surveillance solutions, which is propelling the growth of the aerostat market. North America, in particular, is heavily investing in cost-effective surveillance methods in response to rising terrorism threats. As one of the largest military spenders globally, the region has allocated substantial funds for aerostats aimed at surveillance and border security. Aerostats enhance defense capabilities by expanding radar coverage for missile defense. Traditional aerial intelligence-gathering methods, such as UAVs and manned flights, are expensive and have limitations, including the inability to hover for extended periods, fuel requirements, and maintenance needs. Consequently, many military forces are shifting their focus to aerostats, which utilize buoyant gas for lift.

Utilization of Aerostats for Missile Defense Protection

In modern warfare, missile defense is critical for countering threats. The ongoing development of cruise and ballistic missile technology has prompted defense forces to seek advanced solutions to mitigate these risks, as manned aircraft can be prohibitively expensive. Contemporary aerostats are equipped with sophisticated sensors and radars capable of detecting and identifying incoming threats, relaying information to command centers. An example is the Joint Land Attack Cruise Missile Defense Elevated Netted Sensor System (JLENS), a radar system mounted on a blimp developed by Raytheon Company, a US defense contractor. JLENS can hover continuously at altitudes of up to 10,000 feet for 30 days and is equipped with long-range radars that assist users in safeguarding their territories against missile threats. The advantages provided by aerostats are increasing interest among defense forces, creating a lucrative market for vendors supplying these products, thus contributing to market growth.

Aerostat Market Report Segmentation Analysis

The aerostat market analysis is segmented by product type, payload, and application.

The product type segmentation includes airships, balloons, hybrid aerostats, and High Altitude Pseudo Satellites (HAPS), with the balloons segment holding the largest market share in 2024.
Payload segmentation includes surveillance radars, navigation systems, communication relays, and others, with the surveillance radar segment leading in market share in 2024.
Application segmentation divides the market into military and commercial sectors, with the military segment holding the largest share in 2024.

Aerostat Market Share Analysis by Geography

The geographic analysis of the aerostat market is categorized into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

In 2023, North America led the market, followed by Europe and the Asia Pacific. The Asia Pacific region is expected to experience the highest CAGR in the coming years. The United States holds the largest market share within North America, driven by significant technological investments and military spending. The growth of the aerostat market in the US is fueled by factors such as increased digitization, military investments, and homeland security initiatives. Companies like ILC Dover, based in the US, are designing aerostats for various ISR applications, capable of carrying surveillance radars to altitudes of 15,000 feet while tethered to the ground. Their aerostats range in helium volume from 56,000 to 595,000 cubic feet and in length from 109 to 240 feet, serving military forces in deploying various surveillance payloads.

Aerostat Market Report Scope

Aerostat Market News and Recent Developments

The aerostat market evaluation is based on qualitative and quantitative data collected through primary and secondary research, including significant corporate publications, association data, and databases. Recent developments in the aerostat market include:

QinetiQ US has secured a contract from the U.S. Department of Homeland Security (DHS) Customs and Border Protection (CBP) for Tethered Aerostat Radar System (TARS) Operations & Maintenance (O&M) IV, valued at US$ 170 million, covering one base and four option years. (Source: QinetiQ, Press Release, Nov 2023)
Raven Industries, Inc. announced that the Defense Innovation Unit (DIU) has awarded a contract to Aerostar Technical Solutions, Inc. (Raven Aerostar) to provide advanced high-altitude capabilities for the U.S. Department of Defense. (Source: Aerostar Technical Solutions Inc, Press Release, Nov 2021)

Aerostat Market Report Coverage and Deliverables

The report titled "Aerostat Market Size and Forecast (2021-2031)" offers a comprehensive analysis of the market, covering the following areas:

Aerostat market size and forecast at global, regional, and country levels for all key segments.
Market trends and dynamics, including drivers, restraints, and key opportunities.
A detailed analysis using Porter's five forces framework.
Aerostat market analysis encompassing key trends, global and regional frameworks, major players, regulations, and recent developments.
Industry landscape and competitive analysis, including market concentration, heat map analysis, prominent players, and recent developments in the aerostat market.
In-depth company profiles.

Product Code: TIPRE00007392

1. Introduction

1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 Global Aerostat Market and By Product Type
- 1.3.2 Global Aerostat Market and By Payload
- 1.3.3 Global Aerostat Market and By Application
- 1.3.4 Global Aerostat Market and By Geography

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Aerostat Market Landscape

4.1 Market Overview
4.2 Porter’s Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers:
  - 4.2.1.1 Existence of Strong Buyer Base
- 4.2.2 Bargaining Power of Suppliers:
  - 4.2.2.1 Growing Number of Supplier List
- 4.2.3 Threats to Substitutes:
  - 4.2.3.1 Unmanned Aerial Vehicles Act as Substitutes in the Market
- 4.2.4 Threats of New Entrants:
  - 4.2.4.1 Recognized Brand Capture the Market
- 4.2.5 Degree of Competition:
  - 4.2.5.1 Presence of Strong Market Players in the Industry
4.3 Ecosystem Analysis

5. Aerostat Market and Market Dynamics

5.1 Drivers
- 5.1.1 Need for Accurate Geospatial Information
- 5.1.2 Increasing Focus on Using Economical Solutions for Surveillance
5.2 Restraints
- 5.2.1 Challenges Related to Operational Altitude
5.3 Opportunities
- 5.3.1 Adoption of Aerostat to Protect Military Forces from Missile Defense
5.4 Trends
- 5.4.1 Growing Demand of Cargo Airship for Heavy Payload
5.5 Impact Analysis of Drivers and Restraints

6. Aerostat Market and Global Market Analysis

6.1 Overview
6.2 Global Aerostat Market Revenue and Forecasts To 2031 (US$ Mn)
6.3 Market Positioning and Global Key Players

7. Aerostat Market Analysis and By Product Type

7.1 Overview
7.2 Aerostat Market Breakdown, by Product Type, 2018 and 2031
7.3 Airships
- 7.3.1 Overview
- 7.3.2 Airship Market, Revenue and Forecast to 2031 (US$ Mn)
7.4 Balloons
- 7.4.1 Overview
- 7.4.2 Balloon Market, Revenue and Forecast to 2031 (US$ Mn)
7.5 Hybrid
- 7.5.1 Overview
- 7.5.2 Hybrid Market, Revenue and Forecast to 2031 (US$ Mn)
7.6 HAPS
- 7.6.1 Overview
- 7.6.2 HAPS Market, Revenue and Forecast to 2031 (US$ Mn)

8. Aerostat Market Analysis and By Application

8.1 Overview
8.2 Aerostat Market Breakdown, by Application, 2018 and 2031
8.3 Military
- 8.3.1 Overview
- 8.3.2 Military Market, Revenue and Forecast to 2031 (US$ Mn)
8.4 Commercial
- 8.4.1 Overview
- 8.4.2 Commercial Market, Revenue and Forecast to 2031 (US$ Mn)

9. Aerostat Market Analysis and By Payload

9.1 Overview
9.2 Global Aerostat Market Breakdown, by Payload, 2018 and 2031
9.3 Surveillance RADAR
- 9.3.1 Overview
- 9.3.2 Surveillance RADAR Market Revenue and Forecasts to 2031 (US$ Mn)
9.4 Navigation Systems
- 9.4.1 Overview
- 9.4.2 Navigation Systems Market Revenue and Forecasts to 2031 (US$ Mn)
9.5 Communication Relay
- 9.5.1 Overview
- 9.5.2 Communication Relay Market Revenue and Forecasts to 2031 (US$ Mn)
9.6 Others
- 9.6.1 Overview
- 9.6.2 Others Market Revenue and Forecasts to 2031 (US$ Mn)

10. Global Aerostat Market and Geographic Analysis

10.1 Overview
10.2 North America Aerostat Market Revenue and Forecast to 2031
- 10.2.1 Overview
- 10.2.2 North America Aerostat Market Revenue and Forecast to 2031 (US$ Mn)
- 10.2.3 North America Aerostat Market Breakdown, by Product Type
- 10.2.4 North America Aerostat Market Breakdown, by Payload
- 10.2.5 North America Aerostat Market Breakdown, by Application
- 10.2.6 North America Aerostat Market Breakdown, by Country
  - 10.2.6.1 US Aerostat Market, Revenue and Forecast to 2031
    - 10.2.6.1.1 US Aerostat Market Breakdown, by Product Type
    - 10.2.6.1.2 US Aerostat Market Breakdown, by Payload
    - 10.2.6.1.3 US Aerostat Market Breakdown, by Application
  - 10.2.6.2 Canada Aerostat Market, Revenue and Forecast to 2031
    - 10.2.6.2.1 Canada Aerostat Market Breakdown, by Product Type
    - 10.2.6.2.2 Canada Aerostat Market Breakdown, by Payload
    - 10.2.6.2.3 Canada Aerostat Market Breakdown, by Application
  - 10.2.6.3 Mexico Aerostat Market, Revenue and Forecast to 2031
    - 10.2.6.3.1 Mexico Aerostat Market Breakdown, by Product Type
    - 10.2.6.3.2 Mexico Aerostat Market Breakdown, by Payload
    - 10.2.6.3.3 Mexico Aerostat Market Breakdown, by Application
10.3 Europe Aerostat Market, Revenue and Forecast to 2031
- 10.3.1 Overview
- 10.3.2 Europe Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
- 10.3.3 Europe Aerostat Market Breakdown, by Product Type
- 10.3.4 Europe Aerostat Market Breakdown, by Payload
- 10.3.5 Europe Aerostat Market Breakdown, by Application
- 10.3.6 Europe Aerostat Market Breakdown, by Country
  - 10.3.6.1 UK Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.1.1 UK Aerostat Market Breakdown, by Product Type
    - 10.3.6.1.2 UK Aerostat Market Breakdown, by Payload
    - 10.3.6.1.3 UK Aerostat Market Breakdown, by Application
  - 10.3.6.2 Germany Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.2.1 Germany Aerostat Market Breakdown, by Product Type
    - 10.3.6.2.2 Germany Aerostat Market Breakdown, by Payload
    - 10.3.6.2.3 Germany Aerostat Market Breakdown, by Application
  - 10.3.6.3 France Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.3.1 France Aerostat Market Breakdown, by Product Type
    - 10.3.6.3.2 France Aerostat Market Breakdown, by Payload
    - 10.3.6.3.3 France Aerostat Market Breakdown, by Application
  - 10.3.6.4 Russia Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.4.1 Russia Aerostat Market Breakdown, by Product Type
    - 10.3.6.4.2 Russia Aerostat Market Breakdown, by Payload
    - 10.3.6.4.3 Russia Aerostat Market Breakdown, by Application
  - 10.3.6.5 Italy Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.5.1 Italy Aerostat Market Breakdown, by Product Type
    - 10.3.6.5.2 Italy Aerostat Market Breakdown, by Payload
    - 10.3.6.5.3 Italy Aerostat Market Breakdown, by Application
  - 10.3.6.6 Rest of Europe Aerostat Market, Revenue and Forecast to 2031
    - 10.3.6.6.1 Rest of Europe Aerostat Market Breakdown, by Product Type
    - 10.3.6.6.2 Rest of Europe Aerostat Market Breakdown, by Payload
    - 10.3.6.6.3 Rest of Europe Aerostat Market Breakdown, by Application
10.4 APAC Aerostat Market, Revenue and Forecast to 2031
- 10.4.1 Overview
- 10.4.2 APAC Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
- 10.4.3 APAC Aerostat Market Breakdown, by Product Type
- 10.4.4 APAC Aerostat Market Breakdown, by Payload
- 10.4.5 APAC Aerostat Market Breakdown, by Application
- 10.4.6 APAC Aerostat Market Breakdown, by Country
  - 10.4.6.1 China Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.1.1 China Aerostat Market Breakdown, by Product Type
    - 10.4.6.1.2 China Aerostat Market Breakdown, by Payload
    - 10.4.6.1.3 China Aerostat Market Breakdown, by Application
  - 10.4.6.2 Japan Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.2.1 Japan Aerostat Market Breakdown, by Product Type
    - 10.4.6.2.2 Japan Aerostat Market Breakdown, by Payload
    - 10.4.6.2.3 Japan Aerostat Market Breakdown, by Application
  - 10.4.6.3 India Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.3.1 India Aerostat Market Breakdown, by Product Type
    - 10.4.6.3.2 India Aerostat Market Breakdown, by Payload
    - 10.4.6.3.3 India Aerostat Market Breakdown, by Application
  - 10.4.6.4 Australia Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.4.1 Australia Aerostat Market Breakdown, by Product Type
    - 10.4.6.4.2 Australia Aerostat Market Breakdown, by Payload
    - 10.4.6.4.3 Australia Aerostat Market Breakdown, by Application
  - 10.4.6.5 South Korea Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.5.1 South Korea Aerostat Market Breakdown, by Product Type
    - 10.4.6.5.2 South Korea Aerostat Market Breakdown, by Payload
    - 10.4.6.5.3 South Korea Aerostat Market Breakdown, by Application
  - 10.4.6.6 Rest of APAC Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.4.6.6.1 Rest of APAC Aerostat Market Breakdown, by Product Type
    - 10.4.6.6.2 Rest of APAC Aerostat Market Breakdown, by Payload
    - 10.4.6.6.3 Rest of APAC Aerostat Market Breakdown, by Application
10.5 MEA Aerostat Market, Revenue and Forecast to 2031
- 10.5.1 Overview
- 10.5.2 MEA Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
- 10.5.3 MEA Aerostat Market Breakdown, by Product Type
- 10.5.4 MEA Aerostat Market Breakdown, by Payload
- 10.5.5 MEA Aerostat Market Breakdown, by Application
- 10.5.6 MEA Aerostat Market Breakdown, by Country
  - 10.5.6.1 UAE Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.5.6.1.1 UAE Aerostat Market Breakdown, by Product Type
    - 10.5.6.1.2 UAE Aerostat Market Breakdown, by Payload
    - 10.5.6.1.3 UAE Aerostat Market Breakdown, by Application
  - 10.5.6.2 Saudi Arabia Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.5.6.2.1 Saudi Arabia Aerostat Market Breakdown, by Product Type
    - 10.5.6.2.2 Saudi Arabia Aerostat Market Breakdown, by Payload
    - 10.5.6.2.3 Saudi Arabia Aerostat Market Breakdown, by Application
  - 10.5.6.3 South Africa Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.5.6.3.1 South Africa Aerostat Market Breakdown, by Product Type
    - 10.5.6.3.2 South Africa Aerostat Market Breakdown, by Payload
    - 10.5.6.3.3 South Africa Aerostat Market Breakdown, by Application
  - 10.5.6.4 Rest of MEA Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
    - 10.5.6.4.1 Rest of MEA Aerostat Market Breakdown, by Product Type
    - 10.5.6.4.2 Rest of MEA Aerostat Market Breakdown, by Payload
    - 10.5.6.4.3 Rest of MEA Aerostat Market Breakdown, by Application
10.6 SAM Aerostat Market, Revenue and Forecast to 2031
- 10.6.1 Overview
- 10.6.2 SAM Aerostat Market, Revenue and Forecast to 2031 (US$ Mn)
- 10.6.3 SAM Aerostat Market Breakdown, by Product Type
- 10.6.4 SAM Aerostat Market Breakdown, by Payload
- 10.6.5 SAM Aerostat Market Breakdown, by Application
- 10.6.6 South America Aerostat Market Breakdown, by Country
  - 10.6.6.1 Brazil Aerostat Market, Revenue and Forecast to 2031
    - 10.6.6.1.1 Brazil Aerostat Market Breakdown, by Product Type
    - 10.6.6.1.2 Brazil Aerostat Market Breakdown, by Payload
    - 10.6.6.1.3 Brazil Aerostat Market Breakdown, by Application
  - 10.6.6.2 Rest of SAM Aerostat Market, Revenue and Forecast to 2031
    - 10.6.6.2.1 Rest of SAM Aerostat Market Breakdown, by Product Type
    - 10.6.6.2.2 Rest of SAM Aerostat Market Breakdown, by Payload
    - 10.6.6.2.3 Rest of SAM Aerostat Market Breakdown, by Application

11. Aerostat Market - Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 New Development

12. Aerostat Market - Company Profiles

12.1 Aeros
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 1.1.6 Key Developments
12.2 1.2 ILC Dover
- 12.2.1 1.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 LINDSTRAND TECHNOLOGIES LIMITED
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 LOCKHEED MARTIN CORPORATION
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 RT
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 TCOM, L.P.
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 SWOT Analysis
- 12.6.5 Key Developments
12.7 RAVEN INDUSTRIES, INC.
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Allsopp Helikites Limited
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Raytheon Company
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Israel Aerospace Industries (IAI)
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Glossary of Terms