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Aerostat Systems Market size is set to grow by USD 14.15 billion from 2024-2028, Better performance and cost benefits compared with geostationary satellites boost the market, Technavio

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NEW YORK, Aug. 21, 2024 /PRNewswire/ –The global aerostat systems market size is estimated to grow by USD 14.15 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 17.11% during the forecast period. Better performance and cost benefits compared with geostationary satellites is driving market growth, with a trend towards growing demand for surveillance and intelligence. However, vulnerable to extreme weather conditions poses a challenge. Key market players include Aero Drum Ltd., Aeroscraft Corp., Airborne Industries Ltd., Altaeros, AUGUR RosAeroSystems, CNH Industrial NV, CNIM SA, Drona Aviation Pvt. Ltd., Forecast International Inc., Hybrid Air Vehicles Ltd., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corp., Rafael Advanced Defense Systems Ltd., RT, Solar Ship Inc., TCOM LP, Thales Group, and Zero 2 Infinity S.L..

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Aerostat Systems Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 17.11%

Market growth 2024-2028

USD 14155.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.21

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 28%

Key countries

US, France, China, UK, and Russia

Key companies profiled

Aero Drum Ltd., Aeroscraft Corp., Airborne Industries Ltd., Altaeros, AUGUR RosAeroSystems, CNH Industrial NV, CNIM SA, Drona Aviation Pvt. Ltd., Forecast International Inc., Hybrid Air Vehicles Ltd., ILC Dover LP, Israel Aerospace Industries Ltd., Lindstrand Technologies Ltd., Lockheed Martin Corp., Rafael Advanced Defense Systems Ltd., RT, Solar Ship Inc., TCOM LP, Thales Group, and Zero 2 Infinity S.L.

 

Market Driver

Aerostat systems have gained significant attention from countries and organizations due to their unique capabilities in providing persistent aerial surveillance and real-time intelligence. These systems offer an elevated vantage point, enabling comprehensive monitoring of large areas for extended periods, sometimes weeks or even months. Their benefits include persistent surveillance, rapid response to emerging threats, and effective monitoring of remote and challenging terrains. Aerostat systems are extensively used for border and coastal security, maritime surveillance, and detecting illegal activities such as smuggling and piracy. Advancements in sensor technology have enhanced their capabilities, allowing for multi-modal data collection through high-resolution cameras, radar systems, infrared sensors, and communication equipment. The global aerostat systems market is expected to grow due to these factors, making aerostat systems an attractive option for countries seeking cost-effective and long-enduring solutions for security and surveillance needs. 

Aerostat systems, which include balloons, airships, and hybrids, are gaining popularity in various sectors due to their ability to provide extended flight duration and increased payload capacity. Communication systems integrated with these systems enable better connectivity for remote areas. In the defense sector, aerostat systems are used for military surveillance, border control, and infrastructure protection. Drone evolution has led to the development of tethered UAV systems, which can be integrated with aerostats for enhanced reconnaissance capabilities. Small-class to large-class aerostat systems cater to different applications. For instance, medium-sized systems are ideal for disaster response and traffic monitoring, while large-sized systems are used for military and homeland security applications. RT aerostat systems, powered or unpowered, are equipped with cellular geolocation systems and AI algorithms for data analytics. Original Equipment Manufacturers, Sub-component Manufacturers, and Technology Support Providers are key players in this market. The future of aerostat systems lies in the integration of AI and advanced data analytics for more effective surveillance operations. 

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Market Challenges

Aerostat systems involve large balloon-like structures filled with helium or other lifting gases, susceptible to damage from extreme weather conditions. Adverse weather, including strong winds and storms, can cause structural damage or rupture, leading to costly repairs and downtime. Lightning poses a significant risk, potentially causing electrical failures and damaging sensitive equipment. Ensuring personnel safety during challenging weather is crucial. Weather disruptions can halt critical missions, such as surveillance, border security, or disaster response, resulting in lost intelligence. Deployment and recovery are complicated by inclement weather, making launches and landings challenging and potentially disrupting mission execution. These factors may hinder the growth of the global aerostat systems market.Aerostat systems, including balloons, airships, and hybrids, offer solutions for various applications such as infrastructure protection, traffic monitoring, and surveillance operations in the defense sector. These systems come in different sizes – small-class, medium-class, and large-class – and can be powered or unpowered. In the defense industry, aerostat systems are used for military applications and homeland security. In the commercial sector, they find use in environmental research and commercial applications. Challenges in this market include the need for advanced electro-optic sensors, infrared sensors, communication intelligence, cameras, electronic intelligence, and surveillance radar. Additionally, there is a growing demand for compact-sized and mid-sized aerostats for cost-effective solutions. Original Equipment Manufacturers (OEMs), Sub-component Manufacturers, and Technology Support Providers are key players in this market. The use of drones and anti-drones, UAVs, and aerial vehicles adds complexity to the market, requiring advanced inertial navigation systems and payload capabilities.

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Segment Overview 

This aerostat systems market report extensively covers market segmentation by

Type 1.1 Balloons1.2 Airships1.3 Hybrid airshipsPropulsion 2.1 Powered2.2 UnpoweredGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Balloons- Aerostat systems, specifically high-altitude balloons, are utilized for various applications such as atmospheric and climatic research, weather surveillance, remote sensing, and submillimeter astronomy. These structures are helium or hydrogen-filled, elliptical or spheroid-shaped hollow constructions that can remain inflated with the help of a hot air blower system or solar panels. High-altitude balloons can reach the near-space zone, between 12 to 62 miles above sea level, where they provide Internet connectivity in remote areas and offer longer endurance than conventional balloons. Telecom operators, including Google with Project Loon, are exploring the potential of aerostats to diversify their revenue streams and facilitate growth. The technology’s financial stability and investment capabilities are expected to fuel its growth, leading to the development of new business models and partnerships in the value chain. Innovative solutions like end-to-end commercial aerostat services and on-demand live video data acquisition can further boost business development in the aerostat systems market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Aerostat systems, also known as tethered aerial vehicles, offer a unique solution for communication systems and surveillance operations in various industries. These systems consist of airships, such as spheroidal or ellipsoidal balloons and hybrid airships, which can remain aloft for extended periods. Communication systems integrated with aerostats enable long-range, high-bandwidth data transfer, making them ideal for remote areas or disaster response situations. Surveillance applications of aerostat systems include the use of electro-optic and infrared sensors for reconnaissance and anti-drone measures. Small-class, mid-sized, and large-class aerostat systems cater to different requirements, from compact-sized units for specific missions to large-sized systems for extensive coverage. Drone evolution has led to the development of tethered UAV systems, which combine the advantages of drones with the endurance and stability of aerostats. Cellular geolocation systems and AI enhance the capabilities of these systems, providing real-time data processing and analysis. Unpowered and powered aerostat systems offer flexibility in terms of operational requirements and environmental conditions. Aerostat systems are revolutionizing the way we conduct surveillance and communication operations, offering cost-effective, versatile, and efficient solutions.

Market Research Overview

Aerostat systems are floating platforms used for various applications, including communication systems, surveillance, and reconnaissance. These systems consist of tethered UAVs, such as spheroidal or ellipsoidal balloons, airships, and hybrid designs, available in compact-sized, mid-sized, and large-sized options. They are employed in various sectors, including military and defense, homeland security, and commercial applications. Communication systems are a crucial component of aerostat systems, enabling long-range connectivity for remote areas. Surveillance operations use electro-optic sensors, infrared sensors, cameras, and surveillance radar for real-time monitoring. AI algorithms and data analytics enhance the capabilities of these systems, providing valuable insights for military surveillance, disaster response, border control, infrastructure protection, traffic monitoring, and environmental research. The defense sector relies on aerostat systems for intelligence gathering, while the commercial application sector uses them for communication and data services, meteorological research, and even entertainment. Original Equipment Manufacturers (OEMs), Sub-component Manufacturers, and Technology Support Providers contribute to the development and deployment of these advanced systems. Aerostat systems are evolving, with the integration of cellular geolocation systems, drone evolution, and anti-drone technologies, expanding their capabilities and versatility. The future of aerostat systems holds promise for continued innovation and growth in the defense, surveillance, and commercial sectors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBalloonsAirshipsHybrid AirshipsPropulsionPoweredUnpoweredGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Judopay leaps across the pond, bringing its mobile payment services to North America.

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Judopay, the UK’s go-to mobile payments provider, is now making waves across the Atlantic. Backed by its powerful partner network, Judopay is bringing its seamless in-app and online services to the complex payment landscape of North America.

LONDON, Nov. 14, 2024 /PRNewswire-PRWeb/ — Judopay, the UK’s go-to mobile payments provider, is now making waves across the Atlantic. Backed by its powerful partner network, Judopay is bringing its seamless in-app and online services to the complex payment landscape of North America.

Joe Perry, Chief Customer Officer at Judopay, shared his excitement, “Our entry into this new market is about meeting the growing demand for seamless, mobile-first payments that breaks down geographical barriers. Something today’s consumers expect.”

This year alone, digital payments in North America are set to hit a staggering $3.3 trillion. Judopay’s expansion is set to enable its existing and prospective client base to tap into massive revenue opportunities and make a splash in a brand-new market.

Judopay’s connections will now make it even easier for merchants to go state-side. North America, once seen as lagging behind its European counterparts when it came to adopting digital payments, is catching up fast. The Payments and Commerce Market Intelligence (PCMI) forecasted that by 2026, digital wallets will reach a 41% share of the ecommerce market (versus 39% in cards) with Apple Pay and Google Pay spearheading that growth. And now, Judopay’s mobile-first approach is stepping in to keep things moving smoothly.

Joe Perry, Chief Customer Officer at Judopay, shared his excitement, “North America is now steaming ahead when it comes to app and ecommerce, and we’re excited to dive in. Our entry into this new market is about meeting the growing demand for seamless, mobile-first payments that breaks down geographical barriers. Something today’s consumers expect.

We’re focused on helping our customers go global whilst bringing our game-changing tech and innovation to North American consumers. Hand-in-hand with our partner network, we’re simplifying the payment process for all.”

As part of its North American launch, Judopay is also actively partnering with software platforms across the retail, hospitality, and mobility industry, allowing them to add innovative payment technology to their core offering.

About Judopay:

Judopay is the UK’s leading mobile payments provider. Born out of the frustration with friction-filled checkouts, we built a flexible solution designed to securely drive sales and improve the customer experience. Now wholly owned by Fabrick S.p.A., part of the Banca Sella Group, Judopay is continually building ways to enhance the overall payment experience for merchants and customers alike. Available across multiple sectors, their solution is used by KFC, Uber subsidiary Autocab, PaybyPhone, Sigma Sports, BUPA, Hiscox, Foxtons and many more.

For more information about Judopay and its services, visit www.judopay.com.

Media Contact

Jessica Carroll, Judopay, 44 20 3503 0600, jessica.carroll@judopay.com, https://www.judopay.com/

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SOURCE Judopay; Judopay

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Whatfix Recognized as a Digital Adoption Platform (DAP) Leader for the Fifth Consecutive Year and a Star Performer for the Third Year

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– 2024 PEAK Matrix® Assessment Features Whatfix as a Leader in the Inaugural Regional Reports for North America and Europe

– Strengthens Leadership Position with One of the Highest Scores in Buyer Satisfaction, Value Delivered, Market Presence, and AI Innovation

SAN JOSE, Calif., Nov. 14, 2024 /PRNewswire/ — Whatfix, a global leader among digital adoption platforms (DAPs), today announced that the company has been recognized as a Leader for the fifth consecutive year and a Star Performer for the third year and second consecutive year in the Everest Group Digital Adoption Platform (DAP) PEAK Matrix® Assessment 2024. Whatfix is also recognized as a Leader in the inaugural regional reports for North America and Europe in the DAP category. The Everest Group PEAK Matrix®, a trusted framework for assessing market impact, vision, and capabilities, evaluated 25 DAP software providers in its 2024 report, helping enterprises make well-informed purchasing decisions.

Whatfix has showcased remarkable capability and impact in the digital adoption landscape, achieving top scores in portfolio mix, value delivered, vision and strategy, implementations and support, and engagement and commercial model. Whatfix was selected as one of only three DAP technology providers to receive the “Leader” title based on an evaluation of its vision and capabilities as well as market impact, including value delivered to clients. The company was also one of only four Star Performers, achieving one of the highest scores for value delivered and buyer satisfaction. Its strong market presence, extensive lifecycle expertise, and advanced AI-driven innovations underscore Whatfix’s role in providing exceptional value to clients. This progress in the yearly recognition underscores Whatfix’s consistent industry leadership, impressive year-over-year growth, and unwavering commitment to driving innovation that is shaping the future of the DAP category.

“Whatfix’s deep expertise in driving digital adoption has been crucial to its success, as evidenced by its recognition as a Leader and Star Performer in the global Digital Adoption Platforms (DAP) PEAK Matrix® Assessment 2024,” says Sharath Hari N, Vice President at Everest Group. “This highlights Whatfix’s multi-product strategy, including advanced product analytics, which effectively addresses adoption challenges throughout the application lifecycle. Their extensive global reach allows them to serve a wide range of industries, while advancements in AI significantly enhance user experiences. The Rise 2 Excellence Partner Program further empowers partners to boost sales and customer success. With a continued focus on user experience and robust customer support, Whatfix is well-positioned to maintain its leadership in the rapidly evolving DAP market.”

Key factors contributing to Whatfix’s recognition include:

Multi-Product Strategy & Global Presence: Whatfix employs a multi-product strategy to effectively address adoption challenges throughout the entire application lifecycle. Its extensive global footprint enables the company to serve clients across a wide variety of industries. Whatfix has recorded the highest growth rate in DAP revenue, maintaining its market momentum and positioning itself among the top providers by market share in key industry verticals and regions.Expansion of the Product Suite: Whatfix is broadening its product offerings to target different aspects of an application lifecycle, including Mirror, its application simulation tool that provides a secure, hyper-realistic setting for users to practice and master new tools without affecting live systems. It also provides product analytics that encompasses both product and guidance analytics, as well as Enterprise Insights. The distinctive Ask Whatfix AI feature further sets it apart by translating natural language inquiries into insightful trend visualizations, simplifying the decision-making process. To enhance collaboration among content creators, it has introduced Comments, allowing users to tag colleagues and share links to pages. Whatfix supports a robust content lifecycle management system, offering various environments for creating and testing walkthroughs before publication. It has implemented visibility rules within the editor that allow precise control over when, where, and to whom the content is displayed, enhancing the overall user experience through behavioral targeting informed by product analytics.AI & GenAI-Driven Enhancements: As a leader in AI advancements, Whatfix utilizes AI and GenAI to improve its product functionalities, such as generating summarized responses to user queries, auto-filling text fields, elaborating text, and delivering real-time insights into user satisfaction through survey analysis.Dual Data Center Disaster Recovery for Seamless Operations: Whatfix is distinguished by its strong disaster recovery capabilities, operating two identical data center infrastructures simultaneously. In the event of a disruption in one data center, the other takes over seamlessly, guaranteeing zero downtime and uninterrupted operations. Organizations with data security and privacy concerns will appreciate Whatfix’s flexible deployment options, which include on-premises, private cloud, and hybrid hosting solutions.Commitment to Customer Satisfaction and User Support: Whatfix is consistently recognized for its responsive customer service, comprehensive platform functionalities, and valuable analytics, with clients highlighting these as primary strengths. The company achieved one of the highest scores for buyer satisfaction and value delivered in 2023. Its robust support for mobile and desktop applications, including virtual desktop solutions on Citrix, differentiates it in the market.

“Our continued recognition by Everest Group reaffirms Whatfix’s position as a leader in the DAP space. Our customer-first approach and relentless focus on innovation beyond DAP has enabled us to deliver unparalleled value to global enterprises worldwide,” said Khadim Batti, CEO and co-founder of Whatfix. “We’re proud to offer a solution that empowers organizations to drive user adoption, maximize their technology investments and enhance user productivity.”

This recognition comes on the heels of Whatfix’s recent $125 million Series E funding, which is driving the company’s efforts to enhance its integrated product suite beyond DAP through both organic growth and strategic acquisitions. With this momentum, Whatfix will further solidify its market presence in the US, EMEA, and APAC regions, expand into the Middle East, and strengthen its position within the global public sector.

Click here to read the Everest Group Digital Adoption Platform (DAP) PEAK Matrix® Assessment 2024.

About Whatfix
Whatfix is advancing the “userization” of application technology, by empowering companies to maximize the ROI of digital investments across the application lifecycle. Powered by GenAI, Whatfix’s product suite includes a digital adoption platform, simulated application environments for hands-on training, and no-code application analytics. Whatfix enables organizations to drive user productivity, ensure process compliance, and improve user experience of internal and customer-facing applications. With seven offices across the US, India, UK, Germany, Singapore, and Australia, Whatfix supports 700+ enterprises, including 80+ Fortune 500s like Shell, Microsoft, Schneider Electric, UPS Supply Chain Solutions, and Genuine Parts Company. Backed by investors such as Warburg Pincus, Softbank Vision Fund 2, Dragoneer, Peak XV Partners, Eight Roads, and Cisco Investments, software clicks with Whatfix. For more information, visit the Whatfix website.

Media Contact
whatfix@luminapr.com

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Sonepar’s North American Expansion Brings over $2B in Additional Revenue

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Acquisition growth in 2024 includes 7 companies, 1700 new associates and 89 new branches

CHARLESTON, S.C., Nov. 14, 2024 /PRNewswire/ — 2024 has been a transformative year for Sonepar as it continues to focus on strategic growth. Since 2021, Sonepar has closed 21 acquisitions in North America. The acquisition growth alone in 2024 consists of seven companies representing over $2B in additional revenue, approximately 1,700 new associates, and 89 new branches. Sonepar’s North American acquisition strategy is key to the global success of the Sonepar Group.

Sonepar’s mission is to continue as the strongest and most dynamic electrical distribution network across the entirety of North America. It seeks to combine local sales excellence with significant regional and global investments and capabilities to provide customers with the best distribution experience and associates with the most opportunities to succeed.

Philippe Delpech, President & CEO of Sonepar, commented:

North America is our largest market, where Sonepar leads in building and industrial verticals serving customers with a best-in-class level of service. With 36 billion dollars in sales in 2023, Sonepar is the world leader in B2B electrical distribution of products and services, deploying a global automated supply chain and a proprietary omnichannel digital platform called Spark. Today, the USA is leading in size, processes, technology, and workforce quality. We welcome the more than 1,700 associates who joined the Sonepar family through these seven acquisitions and are already working on combining our strengths for the benefit of customers, suppliers and associates.”

Rob Taylor, President of Sonepar Americas, said:

“Each acquisition is carefully considered, and we look to partner with the best local and regional distributors, which share our values and desire to grow. We truly believe that acquisitions are a strategic partnership that benefits all parties. We work closely with the leadership of companies we engage with to understand what makes them a success, with the goal of enhancing the local go-to-market approach and culture with significant investment and new capabilities. This strategy will continue to be an important focus for Sonepar across the Americas.”

The statistics regarding Sonepar’s investments in North America are striking. Sonepar has added numerous automated distribution centers and significantly increased its density branch network, now serving every province, territory and state in North America out of 548 total branches. It has also added new service offerings like panel shop design and assembly capabilities, and expanded expertise and product offerings in the solar and EV, industrial, broadband and utility segments. Sonepar’s digital solutions such as Spark and the Digital Job Center are best-in-class, offering customers a seamless digital experience.

Sonepar will continue to grow organically and through acquisitions and make significant investments across its entire business.

About Sonepar

Sonepar is an independent family-owned company standing as the world leader in B-to-B distribution of electrical equipment, solutions, and services. In 2023, Sonepar achieved global sales of $36 billion.

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