The global weather forecasting systems and solutions market size is anticipated to expand during the projected period due to the rise in climate change patterns worldwide and uncertainties related to rainfall. Fortune Business Insights™ publishes this information in an upcoming report titled, “Weather Forecasting Systems and Solutions Market, 2023-2030″.
The market includes the design and manufacture of aircraft, rockets, missiles, and spacecraft that operate in space. Defence equipment refers to weapons, arms, and equipment that are used for military purposes. The study conducted in this report provides an in-depth analysis of the aerospace and defences industry in Europe.
Restricted Transportation To Hamper Market Growth
The COVID-19 pandemic affected various industries, including the aerospace and defense sector. Also, the government imposed strict restrictions on import/export policies and transport activities which affected the weather forecasting systems and solutions market growth during the pandemic period. Furthermore, the limited workforce and social distancing norms applied by regional government bodies created a huge impact on the companies’ market development and production rate. Also, restricted production units affected the sales rate of the companies operating in this industry.
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By vertical, the market is trifurcated into aviation, renewable, and agricultural sector.
Based on the solutions, the market is bifurcated into hardware and software.
On the basis of applications, the market is segregated into weather satellites, weather observing systems, weather stations, weather drones, weather balloons, airborne LiDAR, and others.
Geographically, the market share is segmented into North America, Asia Pacific, Europe, and the Rest of the World.
Drivers & Restraints:
Increasing Demand For Effective Disaster Management To Propel Growth
The weather forecast systems and solutions market have lucrative growth potential due to the inclination toward global climate-changing patterns and unpredictable storms and rains at uncertain times. To ensure effective disaster management and continuous monitoring of changing weather conditions is required, which is anticipated to bolster the market growth.
However, due to the lack of automated technologies and insufficient supply of effective weather alarms, the market growth can be affected to a higher extent.
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North America Dominates Global Market Due To The Presence of Prominent Players
North America is expected to hold the highest global weather forecasting systems and solutions market share during the forecast period. The presence of leading market players in this region is a major driving factor for the regional market growth.
Asia Pacific is anticipated to stand at the second-highest market position in the coming years owing to the rising demand for accurate weather prediction and analysis. Also, the need to assess weather conditions to safeguard crews of marine vessels from India and China is expected to drive the regional market growth.
Strategic Alliances Allow Companies To Improve Their Business Performance
The key market players are developing and increasing their market reach. In May 2020, BKC WeatherSys Pvt. Ltd. and Adani Power allied to monitor solar weather monitoring systems. BKC WeatherSys Pvt. Ltd. Acquires the solar weather monitoring system for Adani Power.
- February 2020: For providing supercomputing resources by NOAA’s Weather and Climate Operational Supercomputing Systems, a contract was signed among General Dynamics Information Technology, National Weather Service, and National Oceanic and Atmospheric Administration. As the contract has been signed, the supercomputing systems are managed and designed by GDIT.
- January 2020: To acquire the BullSequana XH2000 supercomputer used for weather forecasting and prediction analysis by European Centre for Medium-Range Weather Forecast, Atos, has signed a four-year contract.
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List of Key Players in the Market Report For Weather Forecasting Systems and Solutions:
- Accuweather, Inc. (U.S.)
- All Weather, Inc. (U.S.)
- Airmar Technology Corporation (U.S.)
- Campbell Scientific, Inc. (U.S.)
- DTN (U.S.)
- Davis Instruments (U.S.)
- Ensco (U.S.)
- Lufft Mess- Und Regeltechnik GmbH (Germany)
- Hoskin Scientific (Canada)
- Met One Instruments, Inc (U.S.)
- Raytheon Technologies Corporation (U.S.)
- Sutron Corporation (U.S.)
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