ALBANY, NY, March 9, 2022 /PRNewswire/ — Increasing popularity of airships in commercial passenger transport has spurred massive interest in the development of eco-friendly, sustainable, and safer designs in airships. Rise in demand for semi-rigid and rigid airships cargo services around the world has expanded the avenue, assert the authors of a TMR study on the airships market. The global valuation of the market is projected to surpass US$519.78 Mn by 2031.
Non-rigid airships have been popularized for advertising application due to cost-effectiveness, notes the in-depth study on the airships market. Rise in use of airships for cargo, transport, and surveillance purposes has opened up profitable opportunities, find the TMR study.
In this regard, brands across several industries are getting attracted toward the innovative format of blimp advertising. Increasing promise of this form of advertisement and promotion among brands pivots on cost-effective outdoor advertisement. In the near future, they are expected to open up new avenues in luxury air travel.
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Key Findings of Airships Market Study
- Cost-effective Means of Surveillance to Propel Demand: The use of airships in surveillance solutions has been reinvigorated considerably in recent years. Despite the resurgence in interest, electric drones still find significant use in surveillance for military and law enforcement agencies. Thus, companies in the airships market are also leaning on growing production of electric drones to diversify their revenue streams. Rise in demand for affordable and low-cost surveillance for military, defense, law-enforcement, and border security applications has bolstered the revenue possibilities in the airships market.
- Airships with Sustainable Designs to Spur Adoption for Cargo Movement and Commercial Tours: The defense industry in a few developed countries are growing their investments in eco-friendly designs airship projects. Such projects have gained attention in the US and the UK This is expected to make commercial airships more environmentally friendly. The growing spending on prototype hybrid aircrafts will open promising frontiers for stakeholders in the airships market.
- Prospect in Advertising & Marketing Applications to Steer Stable Revenues: Players are keenly developing airships for advertisement to gain steady revenues. They are emerging as impressive means of multi-faceted advertisement. Of note, the use of airships grant access to isolated locations or areas with less to no infrastructure such as over the North Pole.
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Airships Market: Key Drivers
- Industry interest in airships is not new, but has been renewed significantly in recent years. Technological advancements have made them safer, thus attracting funding by manufacturers of air transport.
- Airships are expected to increase in popularity as a cost-effective and rapid means of transport. In addition, the low-carbon footprint of the new generation of airships is opening new frontiers in the airships market.
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Airships Market: Regional Growth Dynamics
North America is witnessing massive lucrative avenues in the global airships market. Burgeoning demand for airships in advertisement and promotion is spurring revenue generation in the North America airlines market. Furthermore, the rise in demand for airships for security and patrolling application is expected to generate vast profitable avenue in the global market during the forecast period.
Airships Market: Prominent Players
Some of the key players in the airships market are AUGUR-RosAeroSystemsa, Information Systems Laboratories Inc., GEFA-FLUG, Lindstrand Technologies Ltd., Airborne Industries Inc., Hybrid Air Vehicles Ltd., Lockheed Martin Corporation, Shanghai Vantage Airship Manufacture Co. Ltd., and Zeppelin Luftschifftechnik GmbH.
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Global Airship Market: Segmentation
- Airship Market, by Product Type
- Airship Market, by Application
- Commercial Tours
- Cargo Services
- Airship Market, by Region
- North America
- Middle East & Africa
- South America
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