Weather Radar Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Weather Radar Market is expected to gain impetus from the increasing need ofsafe and comfortable flights. Australia, for instance, currently possesses 60weather radars. But, it is planning to install more of those in the comingyears.
Fortune Business Insights™ in a new report, titled, “Weather Radar Market Size,Share & COVID-19 Impact Analysis, By Platform (Airborne and Land-Based), ByComponent (Transmitter, Antennas, Receiver, Display), By Application(Meteorology & Hydrology, Aviation Industry, Military), and RegionalForecast, 2020-2027” The report further states that the market sizewas USD 233.1 million in 2019 and is projected to reach USD261.4 million by 2027, exhibiting a CAGR of 4.92% during the forecastperiod.
The shutdown of Airports & Declinein Travel amid COVID-19 to Hamper Growth
The outbreak of the COVID-19 pandemicacross the globe is taking a toll on the aviation industry. Hence, several componentmanufacturers are facing severe monetary losses, as well as disruptions insupply chains. This has further resulted in a decline in aircraft deliveries.As airports are shut down, the owners are postponing or canceling the purchaseof new tools and equipment to control air traffic. These factors would obstructthe demand for these radars. But, our reports would help you gain a competitiveedge in the market by selecting the right strategy.
List of the Leading Companies Profiledin 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 toAccelerate Growth
There is a surging demand for airborneweather radars as they help in assisting the passengers, crew, and pilotsregarding the weather conditions. This way, they can avoid entering in theharsh weather zones. Also, the increasing aircraft deliveries would drive theweather radar market growth in the near future. This would mainly occur onaccount of the improvements of economic conditions in various developingnations. It is, in turn, set to increase the demand for air travel. Reputedairliners are therefore looking for broadening their fleet. However, these radarsare only capable of detecting the presence of liquid. This drawback may hindergrowth.
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 LeadStoked by Rising Expenditure in Various Applications
Based on application, the market issegregated into military, aviation industry, and meteorology & hydrology.Out of these, the aviation industry segment is anticipated to lead throughoutthe forthcoming years by procuring the largest weather radar market share. Thisgrowth is attributable to the increasing expenditure in the development of airtraffic control, airports, and aircraft applications.
Regional Analysis
Rising Climate Fluctuations to FavorGrowth in Asia Pacific
Geographically, North America is likelyto dominate in the coming years. The region held USD 82.8 million in terms ofrevenue in 2019. The U.S. is considered to be the most significant contributorto growth as it is a major hub for aircraft production. Asia Pacific is set tobe the fastest-growing region because of the increasing climate fluctuations.
Competitive Landscape
Key Players Focus on Receiving NewOrders to Strengthen Positions
Several market players are engaging innew product development, acquisitions, and contracts to strengthen theirpositions. Most of them are persistently trying to bag new orders fromregulatory bodies across the globe to deliver their in-house weather radars.
Below are two significant industrydevelopments:
March 2020: The U.S. Air Force awarded a contract to EWRRadar Systems, a provider of radar technology based in Kirkwood. As per thecontract, 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 Africaand Madagascar gave a contract to Selex ES GmbH for providing five X-Bandweather radar systems. They will soon be installed at five airports in Africa.
Browse a Detailed Summary of 200 PagesPremium 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
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- Market Size Estimates and Forecast
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- By Platform
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- Airborne
- Land-Based
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- 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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