Global High-Altitude Pseudo Satellites (HAPS) Market Analysis 2022
The Global High-Altitude Pseudo Satellites (HAPS) Market is expected to reach $91.13 million by 2028 growing at a CAGR of 9.2% from 2021 to 2028. High-altitude pseudo-satellites are aircraft, airships, or balloons that fly in the stratosphere and can provide a variety of services over regional coverage areas. It is a category of unmanned aircraft that delivers a multitude of benefits to the commercial market through the use of the Internet of Things (IoT) and other technologies and concepts.
Factors such as increasing demand for high-capacity bandwidth & wireless services and rising use of advanced materials are driving the growth of the market. However, complexity in data management and spectrum management issues are restraining the growth of the market.
Based on technology, the stratospheric balloons segment is going to have a lucrative growth during the forecast period as these balloons are used for atmospheric and climatic research, weather surveillance, remote sensing, and submillimeter astronomy, among others.
The key vendors mentioned are The Boeing Co, Astigan Limited, TAO-Group, Airbus SE, SoftBank, Prismatic Ltd, MAG Aerospace, Lockheed Martin Corp, Facebook, Composite Technology Team, AUGUR – RosAeroSystems, SZ DJI Technology Co. Ltd, AeroVironment Inc, Thales Group, and Alphabet Inc.
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