North America Holds Major Market Share in Global High Altitude Platforms Industry

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2020 - 2028 Global High Altitude Platforms Market

HYDERABAD, TELANGANA, INDIA, February 26, 2022 /EINPresswire.com / -- High Altitude Platforms market Forecasts to 2028 – Global Analysis By Type (Airships, UAV and Others), Payload (Communication, Navigation and Others), End User (Commercial, government & Defense and Others) and By Geography

The Global High Altitude Platforms Market is accounted for $3.10 billion in 2020 and is expected to reach $5.65 billion by 2028 growing at a CAGR of 7.8% during the forecast period. The rise in the expenditure on surveillance systems and growing defense expenses are the major factors propelling the market growth. However, high costs and poor technological infrastructure is hampering the market growth. The government & defense systems segment is estimated to have a huge demand during the forecast period. Governments are massively investing in the high-altitude platform's market to upscale the technological infrastructure. North America is going to have lucrative growth during the forecast period, due to improved adoption and penetration of UAV aircraft in the region by various governmental and private organizations.

Some of the key players profiled in the High Altitude Platforms Market include AIRBUS SAS, Aeros, AeroVironment, Inc., Avealto Ltd., ILC Dover LP, Israel Aerospace Industries (IAI), Lindstrand Technologies Limited, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raven Industries, Inc., Raytheon Technologies Corporation, Tcom L.P., and Thales Group.

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