Stratospheric UAV Payload Technology Market
Stratospheric UAV Payload Technology Market 2020 for the review period 2019 to 2024. By 2024, the market can expand at 3.85% CAGR in the review period. By 2024, the stratospheric UAV payload technology market can value above USD 585.42 Mn. COVID 19 analysis for the market is offered with the report. The increase in the demand for UAV payload technology as a highly effective surveillance solution to boost national security can favour the expansion of the market across the review period.
Competitive Analysis
Some reputed names in the Stratospheric UAV Payload Technology Market Players Airbus SAS (Netherlands), Near Space Systems, Inc. (the US), Lockheed Martin Corporation (US), Thales Group (France), Arca Space Corp. (US), The Boeing Company (US), QinetiQ Group PLC (UK), and Open Stratosphere SA (Switzerland)
Segmental Analysis
The segment assessment of the Global Stratospheric UAV Payload Technology Market is done by Type, Platform, and Technology.
The type-based segments of the Stratospheric UAV Payload Technology Market Share are Electronic Intelligence (ELINT), Signal Intelligence (SIGINT), Telemetry Intelligence (TELINT), and Communication Intelligence (COMINT). The COMINT segment can value at about USD 304 Mn by 2024. COMINT offers direction-finding, interception, and analysis of hostile transmissions that aid in assessing movements and intentions of the counter forces. This provides valuable information that enable operator to detect and analyze complex and unusual signals, thus boosting accuracy. This can cause the stratospheric UAV payload technology to rise in the near future.
The technology-based segments of the global stratospheric UAV payload technology market are persistent communication, imagery and sensing, and direct broadcast TV and radio. The segment of imagery and sensing is expected to of 4.15% CAGR across the study period. The increase in the adoption of stratospheric UAVs for border patrol, surveillance, reconnaissance, intelligence, and missile detection can promote the expansion of the market across the review period. Advances in UAVs to improve imagery and geospatial image processing for robust monitoring solution for national borders can also support the market expansion. The increase in incorporation of remote sensing in UAVs to enhance efficiency of surveillance can underpin the market growth.
The platform-based segments of the global stratospheric UAV payload technology market are commercial, military, and scientific among others. The commercial segment can rise at 4.57% CAGR through the evaluation period. The rise in the application of UAV payload technology for retail, industrial, and government can support the expansion of the market in the near future. Increase in investments to boost UAV payload technology for construction, border monitoring, agriculture, and communications applications can promote the market growth.
Regional Analysis
Trends and factors that are influencing the Stratospheric UAV Payload Technology Market Trends is studied for Europe, North America, APAC, and the rest of the world (RoW).
In North America, the stratospheric UAV payload technology market value can escalate from USD 229.76 Mn in 2018 to USD 277.43 million by 2024. The regional market can thrive at 3.25% CAGR across the forecast period. The expansion of the stratospheric UAV payload technology market can be attributed to the existence of reputed manufacturers, such as Arca Space Corporation and Lockheed Martin Corporation in the region.
In Europe, the stratospheric UAV payload technology market value can increase from USD 100.9 Mn in 2018 to above USD 128.6 Mn by 2024. The regional market can expand at 4.18% CAGR by 2024. The rise of the regional market can be attributed to increase in terrorist incidents and influx of illegal immigrants.
Stratospheric UAV Payload Technology Market Research Report: By Type (Signal Intelligence [SIGINT], Electronic Intelligence [ELINT], Communication Intelligence [COMINT], Telemetry Intelligence [TELINT]), Technology (Imagery and Sensing, Persistent Communication and Direct Broadcast TV and Radio), Platform (Military, Commercial and Scientific) - Forecast to 2030
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