Market Research Future (MRFR) anticipates that the high altitude long endurance (pseudo satellite) market 2020 could potentially achieve a strong valuation of $23 Billion by 2022. The market is also projected to advance at an approximate rate of 9% between 2016 and 2022 (review period).
Post the SARS-CoV-2 outbreak, the satellite technology has proved to be a valuable commodity across industries.
Satellites are being used to offer information regarding the global scenario in the face of lockdown as well as social distancing practices.
Satellite imageries are able to provide information pertaining to the activities across geographies, diverse tourist destinations, industrial sites, public places and highways, which used to be generally crowded before the pandemic.
In addition, a thorough assessment of mortuaries and medical facilities are being performed using satellite imagery.
With the intention of finding a COVID-19 breakthrough, governments everywhere are trying to get their hands on any type of information that can help them make sound decisions regarding the betterment of the grave situation, post COVID-19 outbreak.
The information can be related to the movement of migrant laborers, water and electricity supply that can help build medical facilities on open grounds.
Aerospace & defense, surveillance, communication and military applications are increasingly deploying HALE and HAPS (high altitude pseudo satellites) to boost operation efficiency and gather critical information that can help fight against novel coronavirus.
Some of the top players in the market for High altitude long endurance (Pseudo Satellite) include IAI Ltd., Parrot SA, AeroVironment, Boeing, Northrop Grumman Corporation, Lockheed Martin, SZDJI Technology Co. Ltd., BOSH global services, Hawkeye systems Ltd., Airbus SAS, to name a few.
Primary Boosters and Main Barriers
High altitude long endurance (pseudo-satellite) finds a number of applications in diverse sectors like surveillances, military services, civil and communications and more.
The satellite can perform an extensive survey with high precision and provide real-time information to the military and defense sector.
A notable advantage of high altitude long endurance (pseudo-satellite) includes its ability to operate at extremely high altitude and reach close to 65,000 feet above the ground.
The growth of the high altitude long endurance (Pseudo Satellite) industry is quite strong in Asia Pacific on account of the surge in cross border tension between India-China, North Korea-Republic of Korea and India-Pakistan.
Thus, the increasing need to survey the borders across nations can induce major market growth in the approaching years.
Moreover, the rising use of drones in the communication industry for better quality of pictures and images can benefit the worldwide market.
Drones find extensive deployment in photography, media houses, telecom, business construction and real estate sectors, and more.
Therefore, the escalating demand for drones for civil and surveillance applications can work in favor of the high altitude long endurance market from 2016 to 2022.
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The High Altitude Long Endurance (Pseudo Satellite) Market has been considered for application and energy source.
The applications of High Altitude Long Endurance satellite are civil, communication, surveillance, military, and others.
Solar cell, hydrogen & helium, fuel cells and lithium-ion batteries are some of the primary energy sources that are used in aircrafts, and pseudo satellites.
North America was the largest high-altitude pseudo satellites market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period.
The increasing surveillance and security-related applications and substantial investments by private companies will significantly drive high-altitude pseudo satellites market growth in this region over the forecast period.
The APAC market can note the fastest growth at a rate of approximately 11% in the years ahead, given the technological advancements and the expansion of the industrial base in China and Japan.
Also, surge in government initiatives to boost domestic manufacturing as well as production of military and defense equipment can stimulate the market growth in the region.
SoftBank, Ericsson, DT, Telefonica, Nokia, Bharti Airtel, Loon and China Telecom are coming together to form an HAPS Alliance and equip it with edge compute capabilities for processing of real-time IoT data.
This could lead to more accurate weather prediction along with public safety applications including quick response to floods, oil spills and wildfires, better weather forecasting; tracking massive areas of oceans for illegal fishing, piracy and pollution, as well as monitoring infrastructure and agriculture.