LONDON--(BUSINESS WIRE)-- The global high-altitude pseudo satellites (HAPS) market is expected to post a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has released a new market research report on the global high-altitude pseudo satellites market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the performance and cost benefits over geostationary satellites. Growing demand for high-capacity wireless services, especially ‘last mile’ deliveries has posed challenges to telecommunication service providers. Given the need for an extensively large number of base stations to provide proper wireless communication services, coverage of terrestrial networks is limited in some regions and very costly to operate. Similarly, satellite-based communication services have many capacity and performance limitations in voice and video communication applications.

This market research report on the global high-altitude pseudo satellites market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the increasing use of advanced materials as one of the key emerging trends in the global high-altitude pseudo satellites market:

Global high-altitude pseudo satellites market: Increasing use of advanced materials

Since HAPS operate at the stratospheric layer of the Earth’s atmosphere where the air density is about 7% from sea-level, these airborne systems face several operational challenges. Since the lift generated is a direct function of air density, such platforms may also require larger wing areas or volumes to achieve sustained flight.

“The large size of HAPS platforms compels designers to incorporate relatively advanced and lightweight materials to ensure weight optimization. In addition, the advent of 3D printing has significantly improved production processes. The optimum use of additive manufacturing for component design ensures a seamless interweaving of design to meet customer specifications precisely. This reduces the number of machined parts, subsequent lead time, and associated production costs,” says a senior analyst at Technavio for research on the space industry.

Global high-altitude pseudo satellites market: Segmentation analysis

This market research report segments the global high-altitude pseudo satellites market by technology (balloons, UAVs, and airships) and geographical regions (APAC, EMEA, and the Americas).

The balloons segment held the largest market share in 2018, accounting for over 67% of the market. This technology segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of over 47%. This region is expected to dominate the market through 2023, however, there will be a decrease of over 2% in its market share.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

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