DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “High Altitude Pseudo Satellite Market by Platform (Airships, Balloons and UAVs), Application (Communication, Earth Observation & Remote Sensing, Others (ISR, Monitoring, Search and Rescue, Navigation)), End User and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The high-altitude pseudo satellite market is valued at USD 85 million in 2023 and is projected to reach USD 189 million by 2028, at a CAGR of 17.2% from 2023 to 2028
The study covers the high altitude pseudo satellite market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on platform, application, end user and region.
The demand for these satellites has witnessed significant demand as these systems meet a range of needs, including communication and connectivity to provide internet and communication services, Earth observation, including weather patterns, natural disasters, and environmental changes. These platforms provide cost-effective and flexible solutions for various industries and applications.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
AeroVironment, Inc. (US), Prismatic Ltd. (UK), Airbus (France), Thales Group (France), and SoftBank Group Corp. (Japan) are some of the leading players operating in the High altitude pseudo satellite market.
Airships platform to be the fastest growing segment for the High altitude pseudo satellite market during the forecast period.
Airships, categorized as High Altitude Pseudo Satellites within the Lighter Than Air (LTA) category, possess technology enabling them to manage their lateral trajectory. They have the capability to operate above or below the 60,000 ft flying altitude (FL600) to harness prevailing winds and maintain pressure equilibrium.
Thales Alenia’s Stratobus, based in France, provides an extended range of surveillance capabilities and the capacity to remain suspended over specific locations for extended periods, supporting intelligence, surveillance, and reconnaissance (ISR) operations, thereby enhancing the defense capabilities of the French military..
Other (ISR, Monitoring, Search and Rescue, Navigation) Application Segment To Grow At Highest CAGR of 22.1% during the forecast period.
Other segments of High-Altitude Pseudo Satellites (HAPS) offer a diverse range of applications that extend beyond merely delivering internet connectivity. They are increasingly finding utility in various sectors, including Intelligence, Surveillance, and Reconnaissance (ISR), monitoring, search and rescue, as well as navigation.
For example, the PHASA 35 HAPS developed by Prismatic Ltd (UK) serves as a consistent and stable platform suitable for tasks such as monitoring, maritime surveillance, agricultural monitoring, communication, and security applications. The ApusDuo HAPS, created by UAVOS Inc. (US), is well-suited for maritime surveillance, border patrol missions, communication services, and forest fire detection and monitoring..
Commercial end-user segment to have higher growth for the High altitude pseudo satellite market during the forecast period.
Based on end user, the market segmented into commercial, and government & defense. Commercial HAPS have a wide range of applications.
They can be utilized for agricultural monitoring, which involves overseeing crops, soil conditions, and weather patterns across extensive farmlands. This collected data aids farmers in making well-informed decisions, allowing them to optimize their agricultural practices and consequently increase crop yields and resource efficiency.
Additionally, HAPS contribute to the enhancement of GPS and navigation systems by improving the precision and dependability of signals. They are also valuable in the creation of high-resolution 3D maps for urban planning and infrastructure development.
North America is anticipated to dominate the High Altitude Pseudo Satellite market in 2023
The regional supremacy can be attributed to the presence of major companies, mainly situated in the United States. These industry leaders consistently channel investments into research and development to innovate and enhance technologies used in the High Altitude Pseudo Satellite market.
Such advancements have resulted in cost reduction for satellite launches, making High Altitude Pseudo Satellites more economically viable. Consequently, the increased affordability and reliability of High Altitude Pseudo Satellites are pivotal factors propelling the growth of this market within the North American region.
The report provides insights on the following pointers:
- Analysis of key drivers and several factors, such as Russia-Ukraine Conflict, defense expenditure, and others that could contribute to an increase in high altitude pseudo satellite market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the high altitude pseudo satellite market
- Market Development: Comprehensive information about lucrative markets – the report analyses the high altitude pseudo satellite market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in high altitude pseudo satellite market
Company Profiles
- Aerostar
- Aerovironment, Inc.
- Airbus
- Airstar Aerospace
- Atlas
- Aurora Flight Sciences
- Avealto
- Capgemini
- Composite Technology Team
- Elson Space Engineering
- Hapsmobile Inc.
- Hemeria
- Ilc Dover Lp
- Kraus Hamdani Aerospace, Inc.
- Prismatic Ltd.
- Sceye Inc.
- Sierra Nevada Corporation
- Skydweller
- Stratospheric Platforms Ltd.
- Stratosyst S.R.O.
- Swift Engineering
- Tao Trans Atmospheric Operations
- Thales
- Uavos Inc.
- Zero 2 Infinity S.L.
For more information about this report visit https://www.researchandmarkets.com/r/se0aby
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/high-altitude-pseudo-satellite-market-research-report-2023-aerovironment-prismatic-airbus-thales-and-softbank-group-dominate-302000407.html
SOURCE Research and Markets
