Global Weather Radar Market research report 2020 provides informative data for evaluating the market growth, development trends, regional presence, and better competitors. Declared details of Weather Radar Systems market share, company profiles, product overview and scope, market potential, revenue estimates, and investment scenarios. The Weather Radar market size elaborates the manufacturers, segmentation, dynamics factors, current opportunities, and technology. The main aim of the Weather Radar market report is to provide research updates, product sales, volume, global industry outlook during the forecasted period.
The global weather radar market size is expected to gain impetus from the increasing need of safe and comfortable flights. Australia, for instance, currently possesses 60 weather radars. But, it is planning to install more of those in the coming years. This information is given by Fortune Business Insights™ in a new report, titled, “Weather Radar Market Size, Share & COVID-19 Impact Analysis, By Platform (Airborne and Land-Based), By Component (Transmitter, Antennas, Receiver, Display), By Application (Meteorology & Hydrology, Aviation Industry, Military), and Regional Forecast, 2020-2027” The report further states that the market size was USD 233.1 million in 2019 and is projected to reach USD 261.4 million by 2027, exhibiting a CAGR of 4.92% during the forecast period.
List of the Leading Companies Profiled in the Global Weather Radar Market are:
- Collins Aerospace, a Raytheon Technologies company (The U.S.)
- Honeywell International Inc. (The U.S.)
- EWR Radar Systems (The U.S.)
- Enterprise Electronics Corporation (Alabama, The U.S.)
- LEONARDO Germany GmbH (Germany)
- Beijing Minstar Radar Co., Ltd. (Beijing, China)
- Vaisala (Vantaa, Finland)
- GAMIC mbH (Aachen, Germany)
- FURUNO ELECTRIC CO., LTD. (Hyogo, Japan)
The shutdown of Airports & Decline in Travel amid COVID-19 to Hamper Growth
The outbreak of the COVID-19 pandemic across the globe is taking a toll on the aviation industry. Hence, several component manufacturers are facing severe monetary losses, as well as disruptions in supply chains. This has further resulted in a decline in aircraft deliveries. As airports are shut down, the owners are postponing or canceling the purchase of new tools and equipment to control air traffic. These factors would obstruct the demand for these radars. But, our reports would help you gain a competitive edge in the market by selecting the right strategy.
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It can also define the company’s strengths, weaknesses, challenges, demand, business prospects, and strategies. The Weather Radar Systems market analysis current and historical performance to present in the many work areas. The industry report offers major players with new mergers, investors, stakeholders, and acquisitions.
Drivers & Restraints
Increasing Aircraft Deliveries to Accelerate Growth
There is a surging demand for airborne weather radars as they help in assisting the passengers, crew, and pilots regarding the weather conditions. This way, they can avoid entering in the harsh weather zones. Also, the increasing aircraft deliveries would drive the weather radar market growth in the near future. This would mainly occur on account of the improvements of economic conditions in various developing nations. It is, in turn, set to increase the demand for air travel. Reputed airliners are therefore looking for broadening their fleet. However, these radars are only capable of detecting the presence of liquid. This drawback may hinder growth.
Highlights of This Report:
- Elaborate analysis of the competitive landscape.
- Insights to aid stakeholders in detecting opportunities.
- A 360-degree analysis of the global market.
- Vital recommendations on winning successful strategies & imperatives.
Aviation Industry Segment to Lead Stoked by Rising Expenditure in Various Applications
Based on application, the market is segregated into military, aviation industry, and meteorology & hydrology. Out of these, the aviation industry segment is anticipated to lead throughout the forthcoming years by procuring the largest weather radar market share. This growth is attributable to the increasing expenditure in the development of air traffic control, airports, and aircraft applications.
Rising Climate Fluctuations to Favor Growth in Asia Pacific
North America is expected to dominate the market during the forecast period due to a rise in the demand for new aircraft owing to the increasing air travel. The U.S. is a hub of major players in aircraft production. The market for weather information radar in the aviation industry is expected to grow rapidly. Asia-Pacific is anticipated to be the fastest-growing region during the forecast period owing to the increasing expenditure on aircraft manufacturing along with the rising spending by the government of countries such as India and China for safeguarding from harsh weather. Moreover, the rising climate fluctuations in the region are also expected to fuel market growth.
The Middle East and Latin America are expected to demonstrate sluggish growth during the forecast period, owing to the decreasing demand for aircraft from airlines due to the reduction in passenger capacity.
Key Players Focus on Receiving New Orders to Strengthen Positions
Several market players are engaging in new product development, acquisitions, and contracts to strengthen their positions. Most of them are persistently trying to bag new orders from regulatory bodies across the globe to deliver their in-house weather radars.
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Below are two significant industry developments:
March 2020: The U.S. Air Force awarded a contract to EWR Radar Systems, a provider of radar technology based in Kirkwood. As per the contract, the company will deliver 22 portable Doppler weather radar systems. The contract is worth USD 20.7 million.
June 2018: The Agency for Air Navigation Security in Africa and Madagascar gave a contract to Selex ES GmbH for providing five X-Band weather radar systems. They will soon be installed at five airports in Africa.
Major Table of Contents for Weather Radar Market :
- Executive Summary
- Market Dynamics
- Key Weather Radar Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Weather Radar Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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