Photo courtesy of Lockheed Martin
Military aerostat systems, including unmanned aerial vehicles (UAVs) and unmanned ground vehicles (UGVs), will be heavily enlisted both on the battlefield and as a means of preventing conflicts during the next decade. According to the 165-page
study “Military Aerostats Market Report: 2016-2026,” compiled by market researcher Visiongain, the continued growth of national threats worldwide will fuel the need for military aerostat systems. These include different types of radar, surveillance, and imaging systems for homeland security, law enforcement, border patrols, and tactical applications.
The report notes an anticipated compound annual growth rate (CAGR) of 4.8% for the five-year period from 2016 through 2021. In addition, the market size of $4.17 billion in 2016 is expected to grow to almost $5.3 billion by the end of 2021. The detailed report, which references such companies as BAE Systems, the Boeing Co., Elbit Systems, Lockheed Martin Corp., Northrop Grumman Corp., and Raytheon Co., offers insights on how to compete in this lucrative and dynamic market.