Airships Market report published by Accurize Market Research forecast that the global market is expected to reach $320 Million by 2025; growing at a CAGR of 7.2% from 2017 to 2025. By geography, the Asia Pacific and RoW are expected to grow at a CAGR of 8.7% and 7.6%, respectively, during the forecast period.
Constant surveillance requirement to drive the market
Increasing necessity for continuous surveillance, along with low operational cost could support the growth of the airships market. Moreover, high adoption in advertisement owing to its ability to stay up in the air and target larger audiences also boosts the growth of the market.
The global airship market has been categorized based on the application, structure type, and geography. Based on structure type, airships market is segmented into rigid, semi-rigid and non-rigid. The applications segment is further bifurcated into commercial tours, surveillance, research, cargo transport, and others.
By geography, the global airship market has been divided into North America, Europe, Asia-Pacific, and RoW. The U.S., Canada, and Mexico are covered under North America wherein Europe covers the U.K., Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. The rest of the World (RoW) covers South America, the Middle East, and Africa.
"Non-rigid and semi-rigid accounted for the largest market share in the structure type segment", says Accurize.
Non-rigid and semi-rigid accounted for the market share of 43% and 34.% respectively, 2017. Likewise, applications are segmented into commercial tours, surveillance, research, cargo transport, and others. Advertisement held the largest share in the global airship market in 2017 and also expected to grow at the highest CAGR of 7.8% between 2017 and 2025.
"North America dominated the global market with the highest market share over the forecast period", says Accurize.
North America holds the largest share of the market with 34% followed by Europe with 27%, in the year 2017. Asia-Pacific is the fastest-growing region in the global airships market, owing to the growing penetration of airships in emerging economies for moving freight, particularly in remote areas and high use in outdoor advertising.
Top players in the market
Major companies in the market include Lockheed Martin Corporation, Airborne Industries Inc, Hybrid Air Vehicles Ltd., Lindstrand Technologies, GEFA-FLUG GmbH, Information Systems Laboratories Inc., Shanghai Vantage Airship Manufacture Co. Ltd., ZeppelinLuftschifftechnik GmbH. And Skyship Services Inc., among others.