Weather radar systems help monitor and detect atmospheric conditions over large geographical areas, allowing meteorologists to issue timely weather forecasts and warnings. They find widespread adoption in applications such as aviation, meteorology, climatology, and renewable energy. Factors such as rising concerns about natural disasters and extreme weather events due to climate change are fueling investments in weather radar infrastructure across the globe.
The global weather radar market is estimated to be valued at US$ 136.28 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the weather radar market is the increasing demand for more accurate and advanced weather forecasting solutions. Weather patterns are becoming more unpredictable due to climate change, necessitating improved radar technologies that provide higher resolution data. This is prompting weather agencies and governments globally to upgrade their existing networks with dual polarization radars, phased array radars, and other advanced systems. For instance, the Indian Meteorological Department initiated a nationwide plan in 2021 to install over 200 new radars across the country over a period of 5 years, replacing older single polarization radars. Similarly, the UK Met Office awarded contracts to various vendors in 2020 to supply X-band phased array weather radars as part of the country’s Weather Radar Replacements Programme. Such modernization initiatives are expected to significantly boost the radar hardware and software procurement rates over the next decade.
Segment Analysis
Weather radars for commercial aircrafts operates in C band and S band spectrums and dominates the weather radar market. C band radars offer long-range detection of weather hazards critical for commercial aviation safety and are preferred choice for major airline fleets globally. The retrofitting and installation of weather radars on existing aircrafts also contributes significantly to the segment growth.
Key Takeaways
The Global Weather Radar Market Demand is estimated to be valued at US$ 136.28 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
Regional analysis: The North America weather radar market accounted for highest share in 2023 and is expected to maintain dominating position during forecast period driven by strong demand from naval, aviation and meteorology applications in the US and Canada. Asia Pacific weather radar market is projected to witness fastest growth owing to rising safety concerns and increasing investments in technologically advanced weather surveillance systems especially in India and China.
Key players: Weather radars operating in the weather radar market are Diageo PLC, Bacardi Ltd, Asahi Group Holdings Ltd, Pernod Ricard SA, and Suntory Beverage & Food Ltd, among others. Key players are focusing on new product launches, partnerships and geographical expansion strategies to strengthen market presence and gain competitive edge. For instance, in 2022 Diageo PLC partnered with Government of India to upgrade weather radar infrastructure across several airports in India.
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The weather radar market is evaluated to be USD 2.3 billion out of 2019 and is projected to show up at USD 3.3 billion by 2025, at a CAGR of 5.7% from 2019 to 2025.
Extending revenue for environment assessing using enormous data assessment and climb in ecological change plans achieving weaknesses related to precipitation are fundamental contemplations expected to drive the advancement of the environment checking systems market, all throughout the planet.
The climate gauging programming section coordinates a perplexing organization of frameworks that accumulate and merge meteorological, hydrological, satellite, and radar information to foresee the climate for explicit regions.
This empowers exceptionally exact climate forecasts for the issuance of progressively dependable climate admonitions and warnings by the concerned offices.
In light of utilization, the weather radar market is projected to lead the climate gauging frameworks market from 2019-2025, because of the huge quantities of establishments of individual climate stations, proficient climate stations, and home climate stations, among others across the world.
Market development in North America is driven significantly by the expanded interest for exceptionally precise climate determining frameworks from aeronautics and business enterprises.
Research Nester published a report titled “Weather Radar Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global weather radar market in terms of market segmentation by installation, components, end-user, and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The global weather radar market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2030.
According to the data by the International Civil Aviation Organization, 4.397 billion people travelled through airways in 2019.The global weather radar market is projected to grow on the back of rising government concerns to reduce damage caused by bad weather conditions, such as, hurricanes, cyclones, storms, and floods, along with increasing incidences of weather disturbances.
Moreover, growing adoption of air travel is estimated to boost the market growth, as the aviation industry required weather radar to ensure safe flights.
In addition to this, the growing use of weather radars in military bases is estimated to boost the market growth.On the basis of geographical analysis, the global weather radar market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in the North America is estimated to gain largest share over the forecast period on the back of increasing government expenditure on reducing damage to life and public property caused by natural calamities.
Moreover, growth of the aviation industry in the region, is estimated to boost the regional market growth.The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
