High Altitude Platform Market Expected to Witness a Sustainable Growth over 2024

High Altitude Platform Market Expected to Witness a Sustainable Growth over 2024

The high altitude platform market research study is a detailed document that presents a gist of the global industry space in terms of numerous parameters. Some of these falls along the likes of the industry insights, growth drivers, industry segmentation, and trends worldwide. Also included in the research report is information pertaining to the companies partaking in the market share and the information pertaining to the regulatory norms that impact the commercialization landscape of this vertical.

One of the principal drivers contributing toward the expansion of high altitude platform market is the escalating involvement of renowned behemoths in the development of unmanned technology. For instance, a major contractor of the U.S. defense, Lockheed Martin had invested USD 100 million in 22 several start-up technologies companies in 2016. Within the next year, Lockheed Martin ventures funded USD 60 million to start-up companies, which have currently been working across several domains such as cybersecurity, nanosatellite, and autonomous technologies for trucks. Collaborating with start-ups will thus help companies contribute favorably in commercial and military applications, which would have a proportional impact on the application landscape of industry.

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In a recent development witnessed across high altitude platform market, the subsidiary of the Airbus Group, Airbus Defence and Space has designed an innovative solar-powered aircraft - Zephyr. This high-altitude pseudo satellite has been endowed to provide satellite-like Earth observation and communication services with minimum costs, as it can move in an orbit in the Earth’s stratosphere beyond the line of sight. Pertaining to the capability of this product to capture real time video and images in practically all the weather conditions, it has been predicted that it would be extensively used for civil, security, and military applications. This benchmark set by the Airbus Group will impact positively on UK’s investigation, surveillance, and intelligence capability, which will favorably boost Europe market size. Apart from UK, Germany has also taken initiatives to develop UAVs, which is a marked improvement for the country, given that it had been leasing drones from Israel for surveillance purposes earlier.

Speaking along similar lines, the Federal Government of Germany is looking forward to becoming a global technological leader with regards to innovations in safe, clean, and competitive air transport system manufacturing. The German government has framed aviation strategies to encourage high altitude platform for industry participants to carry out significant research and development activities, as many prime parts suppliers have their bases established in Germany. Alongside, there have been ongoing advancements in the technology sector of the country to improve the production and maintenance of unmanned systems for defense and commercial purposes, which would certainly propel Germany high altitude platform market over the years ahead.

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With significant developments in wireless technologies and artificial intelligence, high altitude platform market is likely to experience an exponential growth potential over the years ahead. Many researchers and high altitude platform market giants have been focusing on the development of microwave-powered platforms as well. Nowadays, pertaining to the benefits such as low-cost system availability, lower rain attenuation impact, capability to cover larger areas, eco-friendly working and lesser time required to kickstart the system, high altitude platforms are preferred over current terrestrial and satellite systems. The massive application spectrum of this product testifies that it would indeed form a major part of urban infrastructure in the ensuing years. Driven by its robust demand across myriad domains, experts claim that market will generate a revenue of more than USD 1.5 billion by the end of 2024.

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