Global Weather Radar Market

Weather Radar Market Size, Share, Growth Analysis, By Platform(Airborne Weather Information Radar, Land-based Information Radar), By Component(Transmitter, Antenna, Receiver, Display), By Application(Meteorology, Hydrology, Aviation, Military), By Region - Industry Forecast 2024-2031

Report ID: SQSG45H2009 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 76

Weather Radar Market Insights

Global Weather Radar Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.39 billion in 2023 to USD 2.31 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

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.

US Weather Radar Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Weather Radar Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.39 billion in 2023 to USD 2.31 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

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. 'Vaisala', 'Honeywell International Inc.', 'EEC', 'Selex ES GmbH', 'Enterprise Electronics Corporation', 'Lockheed Martin Corporation', 'Toshiba Corporation', 'L3Harris Technologies, Inc.', 'Schneider Electric SE', 'Pelmorex Corp.', 'EWR Radar Systems', 'Baron Services', 'The Weather Company', 'China Electronics Technology Group Corporation', 'BAE Systems plc', 'Mitsubishi Electric Corporation', 'Raytheon Company', 'Siemens AG', 'G. R. Pegler Ltd', 'All Weather, Inc.'

The tremendous turbulence that is created during the flight has been causing injuries to passengers and staff in recent years. There have been other occurrences as well, such as the reported aircraft damage from hailstorms. To ensure a comfortable and secure flight, it has become essential to identify and avoid extreme weather conditions. The deterioration of infrastructure and human life has also been brought on by climate change. Radar's growing use in weather analysis is anticipated to accelerate market growth. For instance, Australia has 60 land-based weather information radars and is focused on adding more radar systems because the continent is vulnerable to severe climatic changes and thunderstorms.

The recently released AN/TPY(V)1 mobile weather radar from the US is expected to become popular. The mobile radar can monitor drones, fifth-generation aircraft, and hypersonic missiles. While its sophisticated software-defined design enables quick upgrades to fight new and emerging threats, it can deliver the performance required in today's fiercely fought and crowded battlespace. With this technology, updates may be made via software in hours or even minutes as opposed to the weeks or months that are needed for conventional ground-based radars.

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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Global Weather Radar Market

Report ID: SQSG45H2009

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