The business research report titled ‘Global Aerostat Systems Market by Product Type (Balloon, Airship, Hybrid), by Propulsion System (Powered, Unpowered), by Class (Compact-Sized, Mid-Sized, Large-Sized), by Application (Military and Law Enforcement, and Commercial and Research) Regional Forecasts 2021-2027’, available with MarketStudyReport, states that the global aerostat systems market, which amassed a valuation of 9.5 Bn in 2020, is expected to record a robust growth rate of more than 15.10% during the forecast period and amount up to USD 25.40 Bn by 2027.
 

Decisive findings cite that the increasing preference towards economical solutions for surveillance and the capability of aerostats to provide constant surveillance for a longer duration has helped in augmenting the global aerostat systems market over the past few years.
 

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For the uninitiated, aerostats are ambient and ellipsoidal winds that are often utilized as an aerial framework for scientific and commercial purposes. Military forces make use of aerostats for identification, intelligence, surveillance, and citizen observation.
 

Notably, inflowing government investments are anticipated to enhance industry growth. For instance, the U.S. Dept. of Homeland Security in February 2020 granted a USD 277.5 million contract to Peraton for TARS (Tethered Aerostat Radar Systems) for low-range border and marine surveillance activities.
 

Despite the positive industry outlook, challenges in the form of cost of production and maintenance may hinder the market growth during the stipulated timeframe.
 

From a regional frame of reference, North America aerostat systems market is touted to garner strong gains through 2027, creditable to increase in investments by the government along with collaborative deals with telecommunication service providers to enhance network coverage play a vital role in alleviating the stance of the globally.
 

Speaking of the competitive landscape, key players in the market are Tcom L.P., ILC Dover LP, RT LTA Systems Ltd, Worldwide Aeros Corp, Israel Aerospace Industries, Airborne Industries Ltd, Lindstrand Technologies Ltd, and Allsop Helikites Limited.