Global Airships Market Report, published by Variant Market Research, forecast that the global market is expected to reach $304 million by 2024 from $174 million in 2016; growing at a CAGR of 7.2% from 2016 to 2024. By geography, Asia Pacific and rest of the world (RoW) are expected to grow at a CAGR of 8.7% and 7.6%, respectively, during the forecast period.
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Global Airship Market Report by Variant Market Research, estimate that global market is expected to reach $304 Million by 2024, from $174 Million in 2016. The report will include detailed analysis of airship market with respect to major segments such as structure type, application, and geography.
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Airships are the aircrafts that navigate through the air with their individual power and are raised into the air by the help of gases hydrogen and helium. Several types of airships are principally being used for surveillance or investigation purposes mainly in remote areas as the safety and security has become a rising concern.
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The lesser maintenance cost of these airships and their capacity to offer surveillance to many areas are acting as major reason for the growth in the global airships market size.
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Increasing security and safety concern shall drive the global airship market
The market is majorly driven by the high competitive advantages and low operational cost of these systems. Growing need for surveillance, persistent intelligence, and reconnaissance in which these aircrafts are widely used, will also help to drive the airship market share.
In addition, growing demand of airships for Climatic or weather research and fast communication is anticipated to boost the demand of the market and will also decide the airship market future. However, operational risk or hazards and accessibility of alternatives for example aerostat systems are likely to hamper the growth of the airships industry.
Structure type, application, and geography are the major segments in the market. Structure type is segmented into semi rigid, rigid, and non-rigid.
Application is further categorized into surveillance, cargo transport, commercial tours, research, and others.
Non- rigid airships dominated the structure type segment
Non-rigid airships dominated the structure type segment majorly due to their low cost. Furthermore, many companies and marketing agencies are opting for non-rigid airships as they are remarkably light in weight.
North America held the largest market share of global airship market
North America has been the largest market, with U.S. as the basic contributor followed by Canada.
The factor driving the growth of North American airship market comprise strong presence of the manufacturers in the region. Europe, with U.K. as expected to be the major growing segment in coming years.
Various developments have been observed in Asia Pacific, with countries like New Zealand and Australia investing heavily in these projects. Growth in these countries are expected to explain the airship global scenario in the coming years.
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Lockheed Martin Corporation is the major player of the market which recently in 2016 announced its first customer a Canadian Mining Company. The company is working with its hybrid airship to target commercial market for advertising and marketing for these slow-moving airships.
The major players in the market includes Airborne Industries Inc., Hybrid Air Vehicles Ltd., Lindstrand Technologies, Lockheed Martin Corporation, Lindstrand Technologies, Skyship Services Inc., GEFA-FLUG GmbH, Shanghai Vantage Airship Manufacture Co. Ltd., Information Systems Laboratories Inc., and RosAeroSystems s.r.a., among others.
Scope of Airships Market
Structure Type Segments
- Commercial Tours
- Cargo Transport
- North America
- South Korea
- South America
- Middle East
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