|Forecast Period :||2018-2026|
|Base Year :||2018|
|Leading Market Segments :||Non-Rigid Segment|
|Value in 2018 :||$181 Million|
|Research covered :||100+ Countries|
Global Statistics Representing Airship Market Scenario
The global airship market was valued at USD 181 million in 2018 and is expected to reach USD 306.37 million by 2026 with an anticipated CAGR of 6.8% during the forecast period, 2019–2026.
An airship is a power-driven aircraft lighter than a conventional aircraft. The market has observed a shift from conventional single-gas bag and helium, which is most commonly used in airship as the gas is extensively used for filling balloons as it is a much safer gas than hydrogen. They are majorly used for reconnaissance and surveillance, communication, law enforcement, weather forecasting, and coast guarding. low maintenance cost and can monitor large areas by staying in the air for long periods; thus, they are adopted on a large-scale in military applications.
The global airship market is expected to witness significant growth during the forecast period, owing to increasing cross-border warfare and political instability around the globe. Furthermore, increasing incidents of terror attacks and internal political instability around the globe have created a need for superior intelligence, surveillance, and precision attacks, which is expected to augment the demand for the market. Key players are investing in R&D to offer next-generation airship capable of encountering increasingly sophisticated threats from enemy countries at relatively low costs.
The global airship market can be segmented by construction method, class, and application.
Based on the construction method, the market can be segmented into rigid, semi-rigid, and non-rigid. The non-rigid segment is expected to hold a prominent market share, owing to its simplest form containing the lifting gas, with a gondola suspended below it, containing the crew accommodation, propulsion and fuel. Moreover, several agencies and companies are opting for non-rigid method as they are low cost & exceptionally lightweight.
On the basis of class, the airship market can be segmented into small, medium, and large. The large class segment is expected to witness significant growth, owing to increasing advertising activities and innovation in product development to meet consumer demand.
Based on application, the airship market can be segmented into military, homeland security, commercial, and environmental research. The military application segment is expected to witness significant growth during the forecast period, owing to the increasing use of product in the surveillance of large areas.
Geographically, the global airship market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa.
The North America airship market is expected to register substantial growth during the forecast period, owing to increasing security threats, terrorist activities, and political differences, globally. Additionally, modernization of electronic warfare with technological advancements and innovation have been garnering investments from prominent military warfare equipment manufacturing companies such as Lindstrand technologies, Sceye Inc., and AT&T. For instance, Sceye Inc. commenced a new venture for airship technology, majorly for communication purposes.
In Europe, the military protection equipment market, which includes airship, is expected to grow as the region has been facing escalating challenges with the creation and development of potential military forces. Furthermore, increasing terror attacks and internal political instability have generated a need for surveillance over the enemy territories.
Asia Pacific China has the world’s largest military base, followed by India. This factor, coupled with increasing border disputes between countries such as India, China, and South Korea, has created a need for stringent surveillance, which in turn is expected to bolster the demand in Asia Pacific.
The Middle East and Africa region is pegged to be an emerging market for warfare equipment, owing to the region’s need for a self-reliant army base. Globally, technological developments in warfare techniques have compelled these regions to perceive technical knowledge from leading markets such as the U.S. and Europe.
Latin America airship market is witnessing steady growth in the market, owing to the relatively slow growth of infrastructure and defense sectors.
Some of the major players in the market are Lockheed Corporation Inc., Skyship Services Inc., RosAeroSystems s.r.a., Lindstrand Technologies, West Deutsche Luftwerbung GmbH, GEFA-FLUG GmbH, Information Systems Laboratories Inc., Airborne Industries, Hybrid Air Vehicles Ltd., and Sceye Inc.
Global Airship Market Segmentation
By Construction Method