UAV spending accounts for large piece of revenue in high-altitude aeronautics platform station market
NewsJuly 23, 2018
FREMONT, Calif. The increasing competitive advantages of high-altitude aeronautics platform stations (HAAPS) over conventional and terrestrial-based systems have made them essential for use in both military and commercial applications, according to a new report from BIS Research, "Global High-Altitude Aeronautics Platform Station (HAAPS) Market: Focus on Platform (Unmanned Aerial Vehicles, Airships, Balloons, Tethered Aerostats and Tethered Drones), Payload, and End-Users -- Analysis and Forecast, 2018-2028."
The HAAPS market generated revenue totaling $3.756 billion in 2017, the report found, with military end users spending the highest share. The report also states that the unmanned aerial vehicles (UAV) market accounts for a large share in overall revenue generated, with much of this spending aimed at the growing need of UAVs for surveillance across defense agencies. In addition, several manufacturers are researching and wish to develop solar-powered UAVs for use in providing internet connectivity to remote areas.
North America, according to the forecast, is expected to dominate the market during the forecast period (2018-2028); the U.S. is now the leading country in the HAAPS market and it is expected to maintain its spending dominance during the forecast period. The study predicts that the Asia-Pacific region will grow at the highest combined annual growth rate (CAGR), with China dominating the market in this region. Asia-Pacific call for HAAPS is growing at a much faster rate -- as compared to North America and Europe, says the study -- due to continuous efforts by both national governments and HAAPS manufacturers.
The study also mentions some of the key players in the HAAPS market, including Lockheed Martin, Raytheon, Airbus, Thales Alenia Space, Bye Aerospace, and Augur RosAeroSystems.
