Weather Radar Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Weather Radar Market 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.
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.
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.
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)
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.
Segment
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.
Regional Analysis
Rising Climate Fluctuations to Favor
Growth in Asia Pacific
Geographically, North America is likely
to dominate in the coming years. The region held USD 82.8 million in terms of
revenue in 2019. The U.S. is considered to be the most significant contributor
to growth as it is a major hub for aircraft production. Asia Pacific is set to
be the fastest-growing region because of the increasing climate fluctuations.
Competitive Landscape
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.
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.
Browse a Detailed Summary of 200 Pages
Premium Research Report With TOC:
https://www.fortunebusinessinsights.com/weather-radar-market-103522
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements,
Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global
Weather Radar Market
- Impact of the COVID-19 pandemic on the Global Weather Radar Market
- Steps taken by Industry/ Companies/ Governments to overcome the
impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Weather Radar Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
o
- Market Size Estimates and Forecast
·
o
- By Platform
·
o
§
- Airborne
- Land-Based
·
o
- By Component
- Transmitter
- Antenna
- Receiver
- Display
- By Application
- Meteorology & Hydrology
- Aviation Industry
- Military
- By Region
- North America
- Europe
- Asia pacific
- Rest of the world
TOC Continued…!
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Read Press Release:
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