High altitude market forecast to grow 8.7% annually and generate USD4 billion by 2029 – white paper

The High Altitude (HAPS) Platform Station market is growing at 8.7% a year and is expected to generate USD4 billion by 2029. These are just some of the findings from a new white paper looking at the HAPS landscape. Stratospheric balloons, airships, and heavier-than-air-flight vehicles will all play a role in the growing HAPS ecosystem of the future, enabling applications like connectivity, earth observation, disaster management, maritime communications, infrastructure inspections, and humanitarian missions.

The HAPS Alliance Marketing Communications Working Group, comprised of world-leading telecommunications, technology, aviation, and aerospace companies, has just released this first White Paper.

According to Market Source NSR, High Altitude Platforms 4th Edition, 2020, the HAPS market is gaining traction with a steady increase of in-service units, from 310 in 2019 reaching 710 by 2029, growing at an annual rate of 8.7%. HAPS technology is developing, generating new market demand and disrupting the current landscape, providing new business potential for companies in the HAPS ecosystem. By 2029 the HAPS market is expected to generate $4 billion, driven by market demand and a rise in scientific research and funding from business, university and government space agencies.

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