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Weather Forecasting Systems Market

Weather Forecasting Systems Market by Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting) and by End-use (Transportation, Aviation, Energy & Utilities, BFSI, Agriculture, Media, Manufacturing, Retail, and Others), by Application(Weather Satellites, Weather Observing Systems, Weather Stations, Weather Drones, Weather Balloons, Weather LiDAR, Weather Radar, Others), by Solution(Hardware, Software), by Regions and Global Forecast 2022-2028

Report Id: SNS/A&D/2430 | July 2022 | Region: Global | 140 Pages

Report Scope & Overview:

Weather Forecasting Systems Market Size was valued at USD 2.9 billion in 2021 and US$ 3.0 billion in 2022, expected to reach USD 4.16 billion by 2028, and grow at a CAGR of  5.3% over the forecast period 2022-2028.

Weather forecasting services encompass a wide range of meteoro logically related methods, tools, solutions, and approaches. The process of weather forecasting comprises the use of numerous techniques to analyse atmospheric data and offer current or future weather formats for a specific location. Weather forecasting makes extensive use of structured and unstructured data to boost analytical output while increasing revenue for a variety of end-use industries.

Weather Forecasting Systems Market Revenue Graph

The market is growing due to expansion in the aviation and shipping industries, as well as an increase in safety concerns among end-use industries. Furthermore, increased generation of renewable energy fuels industry expansion. However, the difficulties connected with weather forecasting models and a shortage of experienced labour are projected to stymie market expansion.

Furthermore, technological advancements in computing systems and the expansion of the transportation industry in developing countries are expected to provide lucrative opportunities for the growth of the weather forecasting services market.

MARKET DYNAMICS:

KEY DRIVERS:

  • Continuous weather monitoring is required to enable disaster management.

  • Climate change patterns are causing rainfall uncertainties.

RESTRAINTS:

  • Atmospheric variables have a dynamic nature.

  • Model complexity in weather forecasting

OPPORTUNITIES:

  • Weather monitoring using high-end radar and tiny satellites

  • Increasing supercomputer computational capabilities for weather forecasting

CHALLENGES:

  • The occurrence of misleading weather warnings

  • A substantial capital investment is required.

THE IMPACT OF COVID-19

The grounding of the worldwide aviation fleet has resulted in a sharp decrease in the movement of commercial aircraft, which is a main source of critical weather data. Meteorological agencies use this data to improve the accuracy of weather predictions, including the occurrence of catastrophic weather events such as hurricanes. For example, by the end of March 2020, the data produced by the US-based aircraft fleet had decreased by 50%, while the readings provided by aircraft across North America had decreased by 80%, according to the European Centre of Medium Range Weather Forecasts.

The centre calculated that if all data given by North America's aircraft fleet were suddenly unavailable, weather forecast accuracy would fall by an average of 15%. In the shipping business, a similar paradigm can be observed. Sea-based measurements are critical for forecasting weather over the oceans as well as maintaining long-term records of ocean health and climate changes. However, the number of shipboard observations has been continuously falling since March 2020, with a 15% loss of stations accounted for since the epidemic. The short-term outlook for the weather forecasting systems market is ultimately contingent on governments' swift response to the COVID-19 outbreak, the efficiency of their efforts, and the ongoing pandemic's influence on the global economy.

Weather satellites are expected to lead the weather forecasting systems market from 2021 to 2028, and this segment is expected to grow further due to the increasing need for earth monitoring and weather observing systems to measure, monitor, and provide valuable inputs on a variety of climatic parameters.

The aviation segment dominated the weather forecasting services market by end-use industry in 2021 and is likely to maintain its dominance in the future years, owing to increased connectivity of aerospace IT infrastructure in the aviation industry. However, the transportation category is predicted to grow at the fastest rate over the projection period, as transportation system security can directly influence operational safety and productivity in the industry, as well as indirectly impact services.

The market is divided into three segments based on forecast range: short-range forecast, medium-range forecast, and long-range forecast. The Medium-Range Forecast category is expected to grow the fastest over the anticipated time period. This time span is between 7 and 10 days. It is used in areas including as agriculture, water management, and flood control. Medium-Range weather information is useful when firms make minor operational plan decisions.

Weather forecasting systems are used in aviation, energy, agriculture, retail, media, and other industries. Weather forecasting services provide early warnings of changes in the weather, allowing businesses to arrange weather-sensitive activities at the proper time, assuring safety and sustainability. As these organisations' security and safety concerns grow, so does the demand for weather forecasting services in order to avoid ecological disasters and natural disasters while also increasing revenue streams. For example, the aviation industry relies on forecasting services to stay current on air traffic control and weather. Furthermore, weather forecasting services offer dependable communication services and products to meet the specific needs of government-centric maritime operations.

MARKET PLAYER

Skymet Weather Services Pvt., Ltd., Skyview Systems Ltd., Global Weather Corporation, Accuweather Inc., BMT Group, Fugro, Enav S.p.A, Met Office,Precision Weather, The Weather Company, and other players

MARKET SEGMENT:

by Type

  • Short-range Forecasting

  • Medium-range Forecasting

  • Long-range Forecasting

by End-use

  • Transportation

  • Aviation

  • Energy & Utilities

  • BFSI

  • Agriculture

  • Media

  • Manufacturing

  • Retail

  • Others

by Application

  • Weather Satellites

  • Weather Observing Systems

  • Weather Stations

  • Weather Drones

  • Weather Balloons

  • Weather LiDAR

  • Weather Radar

  • Others

by Solution

  • Hardware

  • Software

Weather Forecasting Systems Market Segment Chart

REGIONAL ANALYSIS

From 2021 to 2028, Asia Pacific is predicted to lead the weather forecasting systems market. The Asia Pacific weather forecasting Systems market is expanding due to a greater emphasis on growing investments in weather forecasting Systems technologies by countries in this area. Furthermore, regional economies have undertaken a number of projects linked to sustainable and renewable energy generation in order to protect the environment and avoid future energy crises. Due to the vulnerability of most renewable energy sources to weather fluctuations, the necessity to maximise energy output mandates the adoption of sophisticated weather monitoring and forecasting systems to assure optimal output, hence boosting the weather forecasting systems market in the region.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Weather Forecasting Systems Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 2.9 Billion
Market Size by 2028 US$ 4.16 Billion
CAGR CAGR of 5.3% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Short-range Forecasting, Medium-range Forecasting, and Long-range Forecasting)
• By End-use (Transportation, Aviation, Energy & Utilities, BFSI, Agriculture, Media, Manufacturing, Retail, and Others)
• By Application(Weather Satellites, Weather Observing Systems, Weather Stations, Weather Drones, Weather Balloons, Weather LiDAR, Weather Radar, Others)
• By Solution(Hardware, Software)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Skymet Weather Services Pvt., Ltd., Skyview Systems Ltd., Global Weather Corporation, Accuweather Inc., BMT Group, Fugro, Enav S.p.A, Met Office,Precision Weather, The Weather Company, and other players.
DRIVERS • Continuous weather monitoring is required to enable disaster management.
• Climate change patterns are causing rainfall uncertainties.
RESTRAINTS • Atmospheric variables have a dynamic nature.
• Model complexity in weather forecasting


Frequently Asked Questions (FAQ) :


Table of Content:

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Weather Forecasting Systems Market, by Type

8.1 Short-range Forecasting

8.2 Medium-range Forecasting

8.3 Long-range Forecasting

 

9.Weather Forecasting Systems Market, by End-use

9.1 Transportation

9.2 Aviation

9.3 Energy & Utilities

9.4 BFSI

9.5 Agriculture

9.6 Media

9.7 Manufacturing

9.8 Retail

9.10 Others

 

10.Weather Forecasting Systems Market, by Application

10.1 Weather Satellites

10.2 Weather Observing Systems

10.3 Weather Stations

10.4 Weather Drones

10.5 Weather Balloons

10.6 Weather LiDAR

10.7 Weather Radar

10.8 Others

 

11.Weather Forecasting Systems Market, by Solution

11.1 Hardware

11.2 Software

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13.Company Profiles

13.1 Skymet Weather Services Pvt., Ltd.

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Skyview Systems Ltd.

13.3 Global Weather Corporation

13.4 Accuweather Inc.

13.5 BMT Group

13.6 Fugro

13.7 Enav S.p.A

13.8 Met Office

13.9 Precision Weather

13.10 The Weather Company

 

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

 

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Secondary Research

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