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High Altitude Platforms Market Is Expected To Grow Tremendously By 2027 August 16, 2021
By Zaraki Kenpachi -
According to a new market report published by Transparency Market Research “High Altitude Platforms Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027,” the high altitude platforms (HAPs) market was valued at US$ 3.21 bn in 2018 and is estimated to reach US$ 6.80 bn by 2027, expanding at a CAGR of 8.7% from 2019 to 2027. North America accounted for the largest share, in terms of revenue, of the HAPs market in 2018. With high adoption of advanced UAV aircrafts and tethered aerostat systems, especially in the U.S., North America is expected to remain dominant throughout the forecast period. Asia Paci몭c is projected to emerge as the fastest-growing market for HAPs during the forecast period, expanding at a CAGR of 10.0% from 2019 to 2027. The market growth of HAPs in Asia Paci몭c region is mainly driven by the strong and increasing expenditure in HAP-based surveillance systems in China, India, Southeast Asia, Japan, and South Korea. Another signi몭cant factor boosting market growth is the growing Internet penetration and increasing demand for high-speed wireless communication services. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? 몭ag=S&rep_id=1282 High altitude platforms (HAPs) are airborne systems deployed at altitudes of more than 50,000 feet. These systems are typically deployed in the stratosphere layer applications such as surveillance systems, communication, and navigation. The most signi몭cant factor fuelling the growth of the HAPs market is the large competitive