PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418767
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418767
Global Weather Forecasting System & Solutions Market is valued at approximately USD 3.22 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2023-2030. A Weather Forecasting System comprises a sophisticated array of tools and technologies designed to predict and communicate atmospheric conditions. Leveraging data from diverse sources such as satellites, weather stations, and radar systems, these systems utilize numerical weather prediction models and advanced algorithms to generate accurate forecasts. The Weather Forecasting System & Solutions Market is expanding because of factors such as rising sea and air traffic, increasing stringency of norms about environmental protection, and changing weather patterns resulting in unpredictability of rainfall.
The burgeoning growth in air travel is a significant driver for the expansion of the Weather Forecasting System & Solutions Market. As air traffic continues to rise globally, airlines and aviation authorities are increasingly relying on advanced weather forecast systems to ensure the safety and efficiency of flights. Unpredictable weather conditions pose a substantial challenge for aviation operations, affecting everything from takeoff and landing to routing decisions during flight. Weather forecasting solutions play a pivotal role in providing real-time, accurate meteorological information, enabling airlines to plan and adjust routes, schedules, and operations accordingly. The 2022 report from the International Air Transport Association (IATA) anticipates a global increase in air traveler numbers, projecting a total of 4.0 billion passengers by 2024. According to the same source, the total number of travelers in 2021 demonstrated a substantial growth of 47% compared to 2019 and an impressive 83% increase in 2022. The trajectory is expected to continue, reaching a forecasted 94% by 2023, 103% by 2024, and culminating in a projected 111% growth by the year 2025. Thus, rising air traffic is driving the market growth. In addition, the integration of Advanced technologies in weather forecast services and the rising agriculture industry is creating new opportunities for the market. However, the high cost of Weather Forecasting System & Solutions stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Weather Forecasting System & Solutions Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. The robust growth of the regional market is being fueled by stringent regulatory standards, a surge in sea and air transportation activities, and the reliance on rainfall for water supply. Moreover, the escalating demand for effective disaster management strategies in the face of diverse natural calamities is anticipated to drive increased adoption of weather forecast systems and solutions in the region. North America is expected to grow at the fastest rate during the forecast period, owing to factors such as the presence of key market players, rising technological advancement, and rising technological advancement.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.