Increasing Demand for Weather Monitoring System in Aviation Industry to Provide Growth Opportunities Players
According to our latest market study on "Weather Monitoring System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Application, and Geography," the market is expected to grow from US$ 1,746.47 million in 2021 to reach US$ 2,932.92 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028.
The aviation industry is susceptible to the weather, and no decision is taken without considering the weather. Pilots require real-time weather information to operate airplanes and helicopters in harsh environments to avoid accidents. The growing aviation industry with an increasing emphasis on new airports and up-gradation of the existing ones with advanced solutions, rising fleet size, surging focus on improving safety and operational efficiency, and advancement in avionics technology is likely to create a sustainable demand for weather monitoring services and drive the weather monitoring system market. Moreover, the increasing demand for helicopters in various applications such as emergency medical service, transportation, search and rescues, and others is creating growth opportunities for weather monitoring market systems in the aviation sector.
In addition, the increasing development and modernization of airports worldwide are expected to create lucrative opportunities for market players, further driving the market over the forecast period. For instance, in 2020, in India, Bengaluru-based CSIR-National Aerospace Laboratories (NAL) developed the Aviation Weather Monitoring System. Moreover, since 2021, China has been building 30 airports in Tibet and Xinjiang provinces. In Moscow, Russia, the East Line Group had undertaken the expansion of Domodedovo International Airport. Since 2021, The Department of Infrastructure and Regional Development and Western Sydney Airport Ltd. has been constructing an airport in New South Wales, Australia. Thus, the factors mentioned above are driving the weather monitoring system market.
The global weather monitoring system market is assessed on the basis of component, application, and geography. The market, based on component, is segmented into hardware, software, and services. Based on application, the market is segmented into metrology, energy & power, transportation, aviation, and others. Based on geography, the weather monitoring system market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, UAE, Iran, and Rest of the MEA), and South America (Brazil, Argentina and the Rest of SAM).
Impact of COVID-19 Pandemic on Weather Monitoring System Market
North America is one of the most prominent markets for weather monitoring systems providers. The demand for weather monitoring systems is relatively high in countries, such as the US, Canada, and Mexico, due to a strong focus on the aviation sector. However, the COVID-19 pandemic negatively impacted the North America weather monitoring system market in 2020. The region has the highest adoption of new technologies owing to favorable government policies to boost innovation and strengthen infrastructure capabilities. Therefore, any impact on industries affects the economic growth of the region. Due to the shutdown of businesses and delays in procurement activities in the last six months of 2020, the weather monitoring system market is negatively impacted. Moreover, the falling GDP is another factor affecting the market's growth. The COVID-19 crisis has drastically impacted air, ship, and road transportation, which has hindered the region's weather monitoring system market.
Baron Services, inc.; Aeron Systems Private Limited; NVIS Technologies PVT. Ltd.; Logics POWERAMR; Boltek; Free Spirits Green Labs Private Limited; Telegrafia A.S.; Trinity Touch; Vaisala; and Trafitek are the leading companies operating in the weather monitoring system market.
Weather Monitoring System Market — by Geography, 2020 and 2028 (%)
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