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(I-AutoNewsWire.com, February 07, 2022 ) Airships Market Size is forecast to reach $165.5 million by 2026, growing at a CAGR of 7.5% during 2021-2026. The various types of airships such as rigid airships, semi-rigid airships and others are predominantly being used for surveillance purposes as safety has become a growing concern in recent times. Airships with the hydrogen and helium lifting gas is used due to their high lifting capacity and availability. The low maintenance cost of airships and their ability to offer surveillance to large areas are acting as key growth drivers for the global airships market. Moreover, airships can monitor a large area by staying uplifted for long time periods. These factors are aiding the demand for airships in surveillance applications. Further, the airships are being used as a mode of advertisement as they have the ability to stay up in the air with little or no movement which helps the advertisements to cover a larger target area. In addition, the tremendous capacity of these airships to handle weight is driving the airship industry in the logistic sector.
Airships Market Segment Analysis - By Construction Type
The Non-Rigid segment of the market is anticipated to register the highest CAGR of 8.1% during the forecast period. Non-rigid airship rely on the pressure of the lifting gas inside the envelope and the strength of the envelope itself to maintain their shape. In addition, these kind of airships are strong demand due to their lower cost. Additionally, these airships are preferred for advertisements due to their light weight design. Further, Aerial Delivery Research and Development Establishment (ADRDE) developed a non-rigid Unmanned Small Airship System (USAS). This Airship is made up of advanced coated fabric having a very high helium retention capability making it useful for longer operational profile. Hence these factors are analysed to drive the airships market growth in the forecast period 2021-2026.
Airships Market Segment Analysis - By End User
Advertising sector in Airships market is expected to witness a highest CAGR of 8.4% the forecast period, the airships are being used as a mode of advertisement as they have the ability to stay up in the air with little or no movement which helps the advertisements to cover a larger target area. Moreover, advertising on airships has been analyzed to be much more cost effective compared to other forms of advertising. In 2020, the government of Quebec (Canada) has committed to invest $23 million in Flying Whales, a French company, to start building its massive zeppelins for its advertising campaign. In 2019, the American Blimp Corporation has also manufactured airships for advertising. Hence these factors are analyzed to drive the airships industry outlook in the forecast period 2021-2026.
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Airships Market Segment Analysis - By Geography
Airships market in North America region held significant market share of 35.2% in 2020, as the U.S. will register maximum demand for airships. The dominance of this regional market will be due to the strong presence of manufacturers in the country and development of technologically advanced products that overcome challenges such as high inflammability of hydrogen gas. Further owing to security challenges in U.S, the U.S. Army awarded a $517 million contract to Northrop Grumman and British firm Hybrid Air Vehicles to build three airships, each as long as a football field, to monitor trouble spots in Afghanistan. Furthermore a large number of companies in the U.S. are trying to stage a comeback for these floating giants, as an antidote to loud, emissions-spewing jets, and also as a better civilized way to travel. Hence these factors are analyzed to drive the airships market growth in the forecast period 2021-2026.
Airships Market Drivers
Rise in need for surveillance
Modern airship designers are targeting two pressing needs intelligence, surveillance, and reconnaissance missions and the transporting of multiton payloads to locations unreachable by conventional transport. For instance, airships are ideal for continuously monitoring sites where improvised explosive devices or rocket launchers may be deployed. They also excel at scanning for distant airborne threats. That’s why, in June 2020, the U.S. Army awarded a $517 million contract to Northrop Grumman and British firm Hybrid Air Vehicles to build three airships, each as long as a football field, to monitor trouble spots in Afghanistan. Airships have lower maintenance cost and can monitor a large area by staying uplifted for long time periods. These factors are aiding to the demand for airships in surveillance applications
The emergence of cargo airships
Cargo airships are an emerging mode of freight transportation. In 2019, Lockheed Martin’s has signed letters of intent and production for 24 airships. In addition, in 2020, AIDBA announced plans to launch its A600 airship, this planned A600 airship will be able to carry 660 tons of cargo or passengers a distance of 3,700 miles. Its 807-ft diameter gives it a bigger footprint than the superdome, which has a 680-ft diameter. Moreover modern cargo airships would be safer and more energy efficient than their predecessors, and could dramatically reduce emissions produced by shipping. Further rise in usage of airships for common logistics transportation, mining, military and other industries has been driving the growth of the airship market share across the globe in the forecast period 2021-2026.
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Airships Market Challenges
Highly flammable gases in airships
Although Airships are growing at a rapid phase, there are some issues related with the use of airships that can hinder the growth of the market. Currently, most of the airships operated with the help of lighter than air gases such as helium and hydrogen. However, hydrogen is a highly flammable gas which has led to several accidents earlier. Hence it becomes risky to operate an airship filled with hydrogen. Furthermore, the airships travel at a much slower speed compared to the modern day jets. Hence, the application of airships in commercial travel is being restrained due to slow speeds.
Airships Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Airships market. Airships top 10 companies include Lockheed Martin Corporation, Airborne Industries Inc., Zeppelin Luftschifftechnik GmbH, Hybrid Air Vehicles Ltd., Lindstrand Technologies Ltd., Shanghai Vantage Airship Manufacture Co. Ltd, Information Systems Laboratories Inc., Skyship Services Inc., Ros Aero Systems SRA., and GEFA-FLUG., among others.
In 2020, ALIAD, the Venture Capital arm of the Air Liquide Group, acquired a stake in Flying Whales. In collaboration with Air Liquide, Flying Whales has reinvented the airship, turning it into a greener solution for transporting heavy loads.
In 2021 - Testia and Flying Whales collaborated to study on structure failure detection for the new LCA60T freight airship.
Airships market in North America region held significant market share of 35.2% in 2020, as the U.S. will register maximum demand for airships. The dominance of this regional market will be due to the strong presence of manufacturers in the country and development of technologically advanced products that overcome challenges such as high inflammability of hydrogen gas.
The major factors that drive the growth of the global airships market are rise in need for surveillance and increase in use of airships for advertising to target large areas.
The airships are being used as a mode of advertisement as they have the ability to stay up in the air with little or no movement which helps the advertisements to cover a larger target area.
Airships companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
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