A recent report published by Infinium Global Research on high altitude platforms market provides an in-depth analysis of segments and sub-segments in the global as well as regional high altitude platforms market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high altitude platforms market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global high altitude platforms market. According to the report, the global high altitude platforms market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
High altitude platforms are objects deployed in the stratospheric layer which is far higher than the altitude where commercial aircraft operate. The high altitude platforms market is growing with the surge in the use of high altitude platforms in different applications. The leading players in the global high altitude platforms market are adopting strategies such as mergers, acquisitions, and new product launches that expand their market share.
The increasing defense expenditure worldwide drives the growth of high altitude platforms market. The operational advantages over the coverage area provided by high altitude platforms contribute to the growth of high altitude platforms market. The increasing demand for internet services globally boosts the growth of high altitude platforms market. The growing airline industry propels the growth of high altitude platforms market. High altitude platforms are utilized to deliver wireless internet services that contribute to the growth of high altitude platforms market. Furthermore, growing surveillance systems expenditure stimulates the growth of high altitude platforms market. On the other side, high operating and initial costs of UAV aircraft hamper the growth of high altitude platforms market. Moreover, research and development in the high altitude platforms market create several opportunities for the growth of high altitude platforms market.
Based on geography, the global high altitude platforms market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold a premium share in the global high altitude platforms market. The high UAV aircraft penetration in North America region contributes to the growth of high altitude platforms market. Asia-Pacific region is anticipated to grow in the global high altitude platforms market with a significant CAGR over the forecast period. The increasing investments for adoption of high altitude platforms in developing countries such as India, China stimulates the growth of high altitude platforms market. Europe is showing growth in the global high altitude platforms market.
The report on the global high altitude platforms market covers segments such as type, payload, and application. On the basis of type, the sub-markets include airships, tethered aerostat vehicles, and unmanned aerial vehicles (UAV). On the basis of payload, the sub-markets include communication, EO/IR systems, surveillance, and navigation. On the basis of application, the sub-markets include government & defense, commercial, and other applications.
The report provides profiles of the companies in the market such as ILC Dover LP, AeroVironment, Inc., Israel Aerospace Industries Ltd., Worldwide Aeros Corporation, Lockheed Martin Corporation, TCOM LP, Raytheon Company, Aerostar International, Inc., Lindstrand Technologies Ltd., Rafael Advanced Defense Systems Ltd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of high altitude platforms market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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