Global Stratospheric UAV Payload Technology Market Industry Analysis, Size, Share and Growth Trends 2020-2026
Summary - A new market study, titled “Global Stratospheric UAV Payload Technology Market Research Report—Forecast till 2024” has been featured on WiseGuyReports.
Global Stratospheric UAV Payload Technology
Market Research Report—Forecast till 2024
Market Overview
The Global Stratospheric UAV Payload
Technology Market is accounted to register a 3.85% CAGR during the study
period. The Stratospheric UAV payloads are four main types namely signals
intelligence (SIGINT), electronic intelligence (ELINT), communication
intelligence (COMINT), and telemetry intelligence (TELINT). These UAV payloads
are primarily used in military, commercial and scientific applications owing to
the use of technologies such as imagery and sensing, persistent communication,
and direct broadcast TV and radio. The UAVs are predicted as the next
generation of aerial platforms established by defense forces around the world.
Nowadays the unmanned aerial systems (UAS) for electronic attacks (EA),
destruction of enemy air defense (DEAD), suppression of enemy air defense
(SEAD), communication transfer, combat search and rescue (CSAR), and intelligence,
surveillance, and reconnaissance (ISR) operations is increasing. The rising
demand for such unmanned systems and payloads is nourishing the profitable
expansion in combat missions against terrorism, especially in countries such as
Iraq and Afghanistan.
The demand for Stratospheric UAV Payload
technology systems is estimated to obtain substantial growth because the
defense forces around the world are contributing to these systems to control
terrorism and reduce troop accidents. The increasing number of internal and
external security risks and the rising requirement for boarder monitoring are
some of the major factors propelling the global stratospheric UAV payload
market. The military segment of the global Stratospheric UAV Payload technology
exhibited the largest market share of 58.9% in 2018, with a market value of USD
276.2 million.
Market Segmentation
The Global Stratospheric UAV Payload
Technology Market has been segregated by type, technology, platform, and
region. Based on the type segment the market is classified into Signal
Intelligence (SIGINT), Electronic Intelligence (ELINT), Communication
Intelligence (COMINT), and Telemetry Intelligence (TELINT). Based on technology
type, the market has been segmented as imagery and sensing, persistent communication,
and direct broadcast TV and radio. By the platform segment, the market has been
divided into military, commercial, and scientific.
Regional Analysis
Geographically, the global stratospheric
UAV payload technology market has been categorized, into North America, Europe,
Asia-Pacific, and the rest of the world.
In 2018, North America was evaluated for
the largest market share of 49.07% of the global stratospheric UAV payload
technology market and the region is anticipated to command the global market
during the review period. the region is accounted to register a significant
market growth to exhibit a CAGR of 3.09% during the study period. Europe held
the second-largest market share followed by Asia-Pacific owing to the adoption
of technological advancements in the military and defense sector and rising
military expenditure. Asia-Pacific is evaluated to be the fastest-growing
market for stratospheric UAV payload technology during the forecast period.
Major Players
The Major Players in the Global
Stratospheric UAV Payload Technology Market are Airbus SAS (Netherlands), The
Boeing Company (US), Lockheed Martin Corporation (US), QinetiQ Group PLC (UK),
Thales Group (France), Arca Space Corp. (US), Near Space Systems, Inc. (the
US), and OpenStratosphere SA (Switzerland).
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