Rise in HAP-based Wireless Communication Services to Spur High Altitude Platforms…

According to a new market report published by Transparency Market Research “High Altitude Platforms Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” the high altitude platforms (HAPs) market was valued at US$2.30 bn in 2014 and is estimated to reach US$4.77 bn by 2023, expanding at a CAGR of 8.7% from 2015 to 2023. North America accounted for the largest share, in terms of revenue, of the HAPs market in 2014. With high adoption of advanced UAV aircrafts and tethered aerostat systems, especially in the U.S., North America is expected to remain dominant throughout the forecast period. Asia Pacific is projected to emerge as the fastest-growing market for HAPs during the forecast period, expanding at a CAGR of 10.0% from 2015 to 2023. The market growth of HAPs in Asia Pacific region is mainly driven by the strong and increasing expenditure in HAP-based surveillance systems in China, India, Southeast Asia, Japan, and South Korea. Another significant factor boosting market growth is the growing Internet penetration and increasing demand for high-speed wireless communication services.

 

…The global high attitude platforms market comprises players such as TCOM L.P., Lockheed Martin Corporation, Raytheon Company, Aerostar International, Inc. (Raven Industries, Inc.), Lindstrand Technologies Ltd., ILC Dover LP., Israel Aviation Industries Ltd., AeroVironment, Inc., Worldwide Aeros Corporation, and Rafael Advanced Defense Systems Ltd…

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