USD 33.87 Billion
Report ID: SQSG45H2009 | Region: Global | Published Date: December, 2022 | Pages: 157
The Global Weather Radar Market was valued at USD 33.87 Billion in 2021, and it is expected to reach a value of USD 45.17 Billion by 2028, at a CAGR of 4.2% over the forecast period (2022 - 2028).
The flexible technology of weather radar may be used to assess the atmosphere. Estimates of future rainfall, inferences about clouds, and the rate and direction of cell migration are all part of these crucial systems. In order to study and offer information on weather conditions, a weather radar is a pulse-doppler radar that detects the velocity and intensity of rain, snow, or hail. Several businesses, including agriculture, tourism, public safety, the aviation industry, and others use the data collected by the radar system. The demand for weather radar systems is increasing as a result of the increased frequency of natural disasters such as thunderstorms, cyclones, ice storms, and snowstorms. The dramatic increase in traffic all over the world is resulting in increased demand for airborne-based radar systems. However, increased alternative technologies are a factor limiting the market growth.
Global Market Size
USD 33.87 Billion
Land-based Information Radar
Land-based Information Radar
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The Global Weather Radar Market is segmented based on Platform, Component, Application, and region. Based on the Platform, the market is segmented as Airborne Weather Information Radar and Land-based Information Radar. Based on the Component the market is segmented as Transmitter, Antenna, Receiver, and Display. Based on the Application, the market is segmented as Meteorology and Hydrology, Aviation, and Military. Based on Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Platform
Based on the Platform, the Global Weather Radar Market is segmented as Airborne Weather Information Radar and Land-based Information Radar. A growth in aircraft deliveries is expected to make the airborne weather radar sector the dominant section in upcoming years. Market recovery is anticipated to be sluggish. Due to the increasing climatic variations, it is projected that the land-based radar market would expand considerably. Additionally, the demand for weather stations on military sites is anticipated to drive the expansion of the land-based radar market.
Analysis by Component
Based on the Component, the Global Weather Radar Market is segmented as Transmitter, Antenna, Receiver, and Display. Due to their ongoing technical improvements, the antenna is expected to be the market sector with the highest and quickest growth. Additionally, it is anticipated that increased investments in the construction of antennas for reliable data transfer from weather radar would boost the segment's growth. Due to the aviation industry's rapid adoption of doppler radar, the transmitter and receiver segments are also anticipated to expand significantly throughout the projection period.
Analysis by Application
Based on the Application, the Global Weather Radar Market is segmented as Meteorology and Hydrology, Aviation, and Military. The aviation industry, military, and meteorology are the three application-based segments of the market. Due to the growing costs associated with the construction of aircraft, airports, and air traffic control applications, the aviation industry is anticipated to dominate the market in further years. As a result of an increase in climatic variations, which would have an impact on public safety, agriculture, tourism, transportation, and other sectors, the meteorology & hydrology segment is anticipated to see considerable expansion over the course of the projected period.
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Due to an increase in demand for new aircraft as a result of rising air traffic, North America is anticipated to lead the market over the projected period. Major producers of aircraft have their headquarters in the U.S. Radar used to collect meteorological data is projected to see a sharp increase in demand in the aviation sector. Due to rising investment by governments in nations like China and India for weather-related protection, as well as increasing spending on aircraft production, the Asia-Pacific region is predicted to have the highest growth throughout the projection period. Also anticipated to support market expansion are the region's increasing climatic changes. Due to the airlines' declining need for aircraft as a result of the reduction in passenger capacity, the Middle East and Latin America are predicted to see slow development throughout the projected period.
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The Global Weather Radar market is relatively fragmented, with a high level of competition. Companies are working on Research and Development to accelerate technology and working on product development. While increasing their existence in the market. Companies are developing strategies to survive in the market which includes mergers and acquisitions.
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According to our analysis, in 2021, Due to an increase in demand for new aircraft as a result of rising air traffic, North America is anticipated to lead the market over the projected period. Major producers of aircraft have their headquarters in the U.S. A growth in aircraft deliveries is expected to make the airborne weather radar sector the dominant section in upcoming years. Market recovery is anticipated to be sluggish. Due to the increasing climatic variations, it is projected that the land-based radar market would expand considerably. Additionally, the demand for weather stations on military sites is anticipated to drive the expansion of the land-based radar market.
|Market size value in 2021||USD 33.87 Billion|
|Market size value in 2028||USD 45.17 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Weather Radar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Weather Radar Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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