Global High-Altitude Platform Industry to hit $1.5bn by 2024: Global Market Insights, Inc. High Altitude Platform Market size was estimated at over USD 1 billion in 2016, and set to exceed USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc. A major factor contributing to the high demand in the high altitude platform market are the operational advantages over coverage area, manufacturing and repair costs as compared to conventional communication systems such as satellites and communication towers. These provide massive cost-savings in manufacturing, testing, and maintenance as compared to satellite systems. Solar-powered, efficient technologies are massively promoted by government bodies across the world owing to the rising pollution and depletion of natural fuel sources. Vendors operating in the global high altitude platform industry are integrating photovoltaic cell modules across the wingspan to decrease the reliance on fuel cells to generate power. For instance, in May 2017, SolarStratos completed the testing of the prototype of the first commercial two-seater solar plane, Elektra-2. Following this, various other companies in the HAP market such as Airbus SE and AeroVironment, Inc. have increased their investment in the development of these technologies and developed and launched unmanned HAPs for various applications.
Rapid growth of the airline industry with long haul airplanes and large-scale globalization are leading to an increase in global passenger traffic with higher demand for in-flight services for entertainment and communication purposes. On an average, passenger and commercial airplanes are assigned a cruising altitude of over 39,000 ft. The development and commercialization of HAP technology can revolutionize the aviation and aerospace industry as HAPs are deployed above 60,000 ft., allowing continuous connectivity for on-board users and navigation to ground-based users. This 1|Page