HYDERABAD, TELANGANA, INDIA, Feb. 26, 2022 /EINPresswire.com/ — High Altitude Platforms Market Forecast to 2028 – Global Analysis by Type (Airships, UAVs and Others), Payload (Communication, Navigation and Others) ), end user (commercial, government and defense and other) and by geography
The global high altitude platform market is worth USD 3.10 billion in 2020 and is expected to reach USD 5.65 billion by 2028, growing at a CAGR of 7.8% during the forecast period. Rising spending on surveillance systems and growing defense spending are the major factors propelling the growth of the market. However, high costs and poor technological infrastructure are hampering the growth of the market. It is estimated that the government and defense systems segment will have a huge demand during the forecast period. Governments are investing heavily in the high altitude platform market to scale the technology infrastructure. North America will witness a lucrative growth over the forecast period owing to the improved adoption and penetration of UAV aircraft in the region by various government and private organizations.
Some of the key players profiled in the High Altitude Platforms Market include AIRBUS SAS, Eros, AeroVironment, Inc., Avealto Ltd., ILC Dover LP, Israel Aerospace Industries (IAI), Lindstrand Technologies Limited, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raven Industries, Inc., Raytheon Technologies Corporation, Tcom LP and Thales Group.
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