Weather radar is a type of radar that allows us to "see" where precipitation is located and monitor its movement. It is commonly used by national weather forecasting services to scan the atmosphere for clouds, rain, snow and other hydrometeors. Weather radars are able to detect rainfall distribution patterns and intensity as well as wind speed. By tracking weather systems and monitoring developments in cloud formation and storm strengths, weather radar allows meteorologists to issue warnings about hazardous weather such as hurricanes, blizzards, and severe thunderstorms far in advance. This helps protect lives and property.
The global weather radar market is estimated to be valued at US$ 157 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One driver from the heading, increasing demand for precise weather forecasting, is fueling growth in the weather radar market. Weather radar systems are playing a vital role in improving the accuracy of weather predictions and allowing timely warnings of dangerous weather conditions. This is leading to rising adoption across various end-use industries such as aviation, marine, mining, oil & gas, renewable energy, and tourism and recreation. Weather radar technology is advancing with dual polarization, Doppler winds, gap filler systems, and mobile radars providing higher resolution scans and more precise data for analysis. The growing need for such accurate weather information to minimize losses caused by extreme weather events is expected to drive increased investments in weather radar solutions over the forecast period.
SWOT Analysis
Strength: Weather radar has precise detection capabilities that help in early warning systems for severe weather events like hurricanes, thunderstorms, etc. Weather radar provides high-resolution scans of precipitation, wind, and other atmospheric variables over a large area. The ability to detect precipitation at long ranges gives forecasters and emergency managers more lead time.
Weakness: Weather radar systems require high capital and operational costs for installation, maintenance, and upgrades. The advanced technologies used also make these systems prone to technical issues and failures. Accuracy of weather radar can be affected in mountainous regions due to beam blockage.
Opportunity: Growing demand for improved weather monitoring and forecasting is fueling investments in modernizing aging weather radar networks. The scope of weather radar is expanding from traditional meteorological uses to new applications in aviation, hydrology, and renewable energy industries. Dual-polarization radar is gaining popularity as it provides enhanced detection of microphysical properties of precipitation.
Threats: Budget cuts can delay or cancel modernization plans for weather radar networks in some countries. Natural calamities may damage critical radar infrastructure. Open-source weather data and civilian weather satellites are emerging as alternatives that may reduce reliance on proprietary weather radar over time.
Key Takeaways
The Global Weather Radar Market Size is expected to witness high growth over the forecast period driven by replacement of obsolete systems and expanding applications. The need for improved situational awareness of severe weather is a major factor driving replacement demand. The global weather radar market is estimated to be valued at US$ 157 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.
North America currently dominates market share due to large installed base and major refurbishment programs underway in the U.S. and Canada. The Asia Pacific region is poised to become the fastest growing regional market for weather radar as countries like China and India invest heavily to modernize their meteorological monitoring capabilities. Europe is also a major weather radar market supported by modernization initiatives under the EUMETNET program. Many European nations have realized the need to replace first generation weather radars with more advanced dual-polarization radars for better hydrological applications.
Key players: Key players operating in the weather radar market are Menzel Elektronic, EWR Weather Radars, Selex ES GmbH, Honeywell International Inc., Beijing Metstar Radar Co., GAMIC, Huawei, Fujian Newland Electronic Technology Co., and China Electronics Technology Group Corporation.
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https://www.newswirestats.com/weather-radar-market-size-share-growth-outlook-2023/
