North American aerostat market to reach $2.4 billion

The North American aerostat market will reach $2.4 billion by 2019, according to a forecast by market research firm MicroMarketMonitor. This reflects a compound annual growth rate of 11.5 percent.

"The demand for long surveillance range and high payload capacity is majorly driven by the trends in aerostat industry where aerostat operational cost has always influenced the industry," the report said. "While the military application leads among the various applications, the commercial application is expected to grow at the highest CAGR during the forecast period."

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