(MENAFN- EIN Presswire) Airships Market
OREGAON, PORTLAND, UNITED STATES, May 15, 2023 /einpresswire.com / -- According to a new report published by Allied Market Research, titled,“airships market ," The airships market was valued at $349.17 million in 2021, and is estimated to reach $608.1 million by 2031, growing at a CAGR of 6% from 2022 to 2031.
Presently, the global airship market is dominated by North America followed by Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the airship market in terms of growth during the forecast period. In North America, the U.S. is expected to capture the majority of the market share owing to the extensive adoption of airships.
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The airship market is expected to showcase a growth rate of 6.0% CAGR during the forecast period, backed by its proliferating scope of application advertisement, cargo, tourism, and recreational verticals. The rise in concern about the carbon footprint generated by the aviation industry and efforts to reach carbon neutrality by 2050 is one of the major drivers supporting the growth of the airship market. Airships have a negligible carbon footprint as compared to aircraft and several operators are gradually inclining toward the adoption of airships. For instance, in June 2020, the firm Hybrid Air Vehicles announced its first commercial order of 10 Airlander airships from an airline group, to be delivered by 2026. Each Airlander is capable of carrying 100 passengers and is expected to reduce the carbon footprint by 90% per journey. Post-delivery, the Airlander ships are expected to operate on regional routes of Spain.
Furthermore, support by the regional government to promote the usage of airships in a range of travel, tourism, and logistics industries further bolster its market demand during the forecast period. European and North American countries such as France, Denmark, Norway, Spain, the UK, and the U.S. have made concrete plans for the decarbonization of air travel at the domestic level. These plans have allowed them to explore several alternatives such as all-electric aircraft and airships. Nations across the globe are actively developing a comprehensive regulatory infrastructure for the safe operations of airships. Such initiatives are anticipated to make trade, transactions, and operations of airships much smoother and more efficient, supporting global business opportunities.
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The airship market is segregated into application, architecture, operation, class, and region. The application segment is further classified into military & communication, advertisement & cargo, research & surveillance, and tourism & recreation. The architecture segment of the airship market is divided into rigid, semi-rigid, and non-rigid. By operation, the airship market is separated into unmanned and manned. By class, the airship market is categorized into large, medium, and small. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA
KEY FINDINGS OF THE STUDY :
By class, the medium segment leads the market during the forecast period
By operation, the manned segment leads the market during the forecast period
By architecture, the non-rigid segment is expected to grow at lucrative growth rate during the forecast period.
By application, the tourism, and recreational segment leads the market during the forecast period.
North America dominated the airship market in terms of growth, followed by Asia-Pacific, Europe, and LAMEA.
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The key players operating in the airship market are Lockheed Martin Corporation, Airborne Industries Inc., Zeppelin Luftschifftechnik GmbH, Hybrid Air Vehicles Ltd., Lindstrand Technologies Ltd., Shanghai Vantage Airship Manufacture Co. Ltd, Information Systems Laboratories Inc., Skyship Services Inc., RosAeroSystems s.r.a., GEFA-FLUG, Sceye Inc., Vantage Airship, West Deutsche Luftwerbung GmbH, Worldwide Aeros, CargoLifter AG, Boeing and Varialift Airships.
David Correa
Allied Analytics LLP
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