© 2016 Global Market Insights, Inc. USA. All Rights Reserved High Altitude Platform Market to grow at 5% CAGR from 2017 to 2024

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  High Altitude Platform Market size was estimated at over USD 1 billion in 2016, and set to exceed USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc. A major factor contributing to the high demand in the high altitude platform market are the operational advantages over coverage area, manufacturing and repair costs as compared to conventional communication systems such as satellites and communication towers. These provide massive cost-savings in manufacturing, testing, and maintenance as compared to satellite systems.  Solar-powered, efficient technologies are massively promoted by government bodies across the world owing to the rising pollution and depletion of natural fuel sources. Vendors operating in the global high altitude platform industry are integrating photo-voltaic cell modules across the wingspan to decrease the reliance on fuel cells to generate power. For instance, in May 2017, SolarStratos completed the testing of the prototype of the first commercial two-seater solar plane, Elektra-2. Following this, various other companies in the HAP market such as Airbus SE and AeroVironment, Inc. have increased their investment in the development of these technologies and developed and launched unmanned HAPs for various applications. Key Insights from High Altitude Platform Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Rapid growth of the airline industry with long haul airplanes and large-scale globalization are leading to an increase in global passenger traffic with higher demand for in-flight services for entertainment and communication purposes. On an average, passenger and commercial airplanes are assigned a cruising altitude of over 39,000 ft. The development and commercialization of HAP technology can revolutionize the aviation and aerospace industry as HAPs are deployed above 60,000 ft., allowing continuous connectivity for on-board users and navigation to ground-based users. This is anticipated to massively drive the high altitude platform market growth during the forecast timespan.  The UAV market is anticipated to exhibit substantial growth during the forecast time- period. These operate at 54,000 feet for up to nine hours and are equipped with laser systems to target offense missiles and have large scale applications in environmental data collection and defense purposes. In the U.S, the government has undertaken various laws such as the FAA Modernization and Reform Act of This contains provisions to make the UAS licensing process easier and quicker for law enforcement officials. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Latest Research Report On High Altitude Platform Request for a sample of this research

© 2016 Global Market Insights, Inc. USA. All Rights Reserved U.S. HAP market size, by application, 2016 & 2024 (USD Million)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The surveillance segment dominates the high altitude platform industry due to high adoption by military and naval forces in developed regions such as North America and Western Europe. This is primarily due to higher image clarity and data relay capabilities of these system as opposed to conventional surveillance systems. High growth in the telecommunications segment is due to the rising penetration of the internet and the increase in global smartphone usage. Provision of broadband services in rural locations is highly researched by companies such as Google through their various projects such as Skybender and Loon.  The economic boom in the South-East Asian countries is contributing to the high growth of the HAP market. Outsourcing of various business operations requires continuous connection to the internet and other communication facilities. Disruption in connectivity can result in massive financial losses for regional players. Additionally, the consumers in the region are also seeking high speed broadband services and wireless connectivity which at lower rates. Rising instances of smuggling and terroristic activities across the world have led to government concern and strategies to tackle such issues. Regional Analysis

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Lockheed Martin Corporation Thales Group ILC Dover L.P Worldwide Aeros Corporation Elektra Solar GmbH Raytheon Company Aerostar International, Inc. Airbus SE Major Companies in High Altitude Platform Market:

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