Market Overview:
The Weather Radar Market is estimated to be valued at US$117.29 million in 2023 and is expected to exhibit a CAGR of 19.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Weather radars help in detecting precipitation, calculating rainfall rate and wind speed using electromagnetic pulses. They are vital equipment used for weather monitoring and forecasting applications.
Market Dynamics:
The rising demand for accurate weather forecasting to minimise disasters caused by extreme weather events is driving the weather radar market growth. Weather radars capture real-time weather data which helps meteorologists to detect storms and forecast weather patterns in advance. Their ability to monitor weather conditions from long ranges with high resolution makes them important tools for analysing hazardous weather. Additionally, growing investment by governments as well as private weather agencies in modernising weather surveillance infrastructure is expected to boost the adoption of advanced weather radars during the forecast period.
Market key trends
Some of the key trends in the weather radar market include increasing adoption of more technologically advanced weather radars such as Doppler radars and dual polarization radars. Doppler radars are able to detect precipitation type and movement by measuring the Doppler shift in microwave signals. Dual polarization radars send both horizontal and vertical signals and are able to differentiate between rain, snow, hail and other hydrometeors. This information is useful for more accurate weather forecasting and analysis. Moreover, integration of weather radars with advanced technologies such as artificial intelligence, autonomous vehicles and manned/unmanned aircraft is supplementing the demand.
SWOT Analysis
Strengths: Weather radars provide accurate real-time weather monitoring which helps in mitigating risks to life and property from extreme weather events.
Weaknesses: High installation and maintenance costs of weather radars limit their adoption. Additionally, interpretation of weather radar data requires trained professionals.
Opportunities: Growing automation across industries and integration of weather radars with emerging technologies will support the market growth. Adoption is expected to rise in developing regions for better disaster management.
Threats: Presence of alternate weather monitoring solutions including satellite imaging, weather sensors and weather stations poses competition.
Key Takeaways
The Global Weather Radar Market is expected to witness high growth, exhibiting CAGR of 19.9% over the forecast period, due to increasing natural calamities and need for efficient disaster management solutions.
Regional analysis
North America dominates the weather radar market currently due to high adoption of advanced weather radar technologies by national weather agencies and airports. Asia Pacific is expected to witness the fastest growth over the coming years. Countries like China, India and Japan are increasingly procuring Doppler and dual polarization weather radars as a preparedness against extreme weather events.
Key players
Key players operating in the weather radar market are Furuno Electric Co., Ltd, EWR Weather Radar, Honeywell International Inc, Selex ES Gmbh, Beijing Metstar Radar Corporation Ltd., Vaisala, Garmin International Ltd, Glarun Technology Co, Ltd., AERODATA, Inc, and Anhui Sun Create Electronics Co. Ltd. These players are focusing on developing more sophisticated weather radars with capabilities like scanning multiple elevation angles to improve forecasting accuracy.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
