Market Research Report
Aviation Weather Forecasting Services Market by Forecasting Type (Aerodrome, Area/Route, & Special), by Forecasting Duration Type, Distribution Method Type, Aviation Type, Region, Trend, Forecast, Competitive Analysis, & Growth Opportunity 2018-2023
|Aviation Weather Forecasting Services Market by Forecasting Type (Aerodrome, Area/Route, & Special), by Forecasting Duration Type, Distribution Method Type, Aviation Type, Region, Trend, Forecast, Competitive Analysis, & Growth Opportunity 2018-2023|
Published: August 22, 2018
Content info: 178 Pages
Delivery time: 1-2 business days
Aviation Weather Forecasting Services Market by Forecasting Type (Aerodrome, Area/Route, and Special), by Forecasting Duration Type (Short-term, Medium-term, and Long-term), by Distribution Method Type (Electronic and Written), by Aviation Type (Civil Aviation and Military Aviation), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This report, from Stratview Research, studies the global aviation weather forecasting services market over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Weather forecasting is a critical service being offered for various industries wherein accurate weather information plays an important role in planning day-to-day activities. Industries, such as marine, agriculture, forestry, utility, aviation, and defense, find its use on a large scale. Historically, the aviation sector had been considered as a major meteorological customer and most of the developments made in forecasting services have primarily been for the improvement of meteorological services to aviation. Advancements in technology and aircraft design with the relentless drive for more efficient and safe operations have resulted in a requirement for increasingly accurate, varied, and customer-focused meteorological products and services, particularly for the first 24 hours of the forecast period.
The global aviation weather forecasting services market is projected to grow at an impressive growth rate over the next five years to reach US$ 426.1 million in 2023. Organic growth of the aircraft industry, rising aircraft fleet size, increasing focus on improving safety and operational efficiency, and advancement in avionics technology are likely to create a sustainable demand for weather forecasting services in the aviation industry in the foreseen future.
Boeing anticipated that there would be total deliveries of 42,730 commercial and regional aircraft worth US$ 6.35 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 62.5% of the total commercial aircraft deliveries during 2018-2037. An expected healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will chiefly drive the demand for commercial aircraft. This is likely to facilitate a healthy long-term demand for weather forecasting services in the coming five years.
The aviation industry is sensitive to weather and no decision is taken without first putting the weather into consideration. Safety has come under some threat as demand for air travel has increased with an unbalanced increase in airport capacities and facilities coupled with frequent extreme weather conditions being experienced across the world. There have been as many as 79 accidents related to flights in the last five years from 2012 to 2017, taking the life of about 2260 passengers around the world. Weather has been one of the prominent factors for many of these accidents. Besides, increase in focus on operational efficiency and growth in public-private partnership towards producing more accurate and reliable weather forecasts are further shaping a positive trend in the market.
The global aviation weather forecasting services market is segmented based on the forecasting type as Aerodrome Forecast, Area/Route Forecast, and Special Forecast. Aerodrome forecast is expected to remain the most dominant segment of the aviation weather forecasting services market over the next five years. Almost every airport in the world has Terminal Aerodrome Forecast (TAF) written for them. Due to a continuous increase in fleet size and increasing involvement of private players in these services, the segment is expected to grow at a healthy rate in the coming five years.
Based on the forecasting duration type, the global aviation weather forecasting services market is segmented as Short-Term, Medium-Term, and Long-Term Forecast. Short-term forecast is projected to remain the most dominant segment of the global aviation weather forecasting services market over the next five years. Short-term forecasts are the most widely used in the aviation industry, owing to their higher accuracy as compared to longer-term forecasts. Additionally, the technological innovations, an increase in the usage of electronic mode of transmission, and a more efficient weather-model further facilitate the use of short-term forecasts.
Based on the distribution method type, the market is segmented as Electronic and Written. The electronic forecast segment is projected to remain the dominant mode of communication in the market during the forecast period, propelled by the advancement of technology, uninterrupted data transfer, and a better avionics user-interface.
Based on the aircraft type, the global aviation weather forecasting services market is segmented as Civil Aviation and Military Aviation. Civil aviation is expected to remain the growth engine of the market over the next five years, whereas military aviation is projected to showcase a flatter growth during the same period.
Based on regions, North America is expected to remain the largest aviation weather forecasting services market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of Asia-Pacific is driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, presence of the most weather-sensitive nations, such as India and the Philippines, and rising aircraft fleet size.
Some of the key players in the aviation weather forecasting services market include Universal Weather and Aviation Inc., Rockwell Collins, The Weather Company - IBM, Jeppesen, and World Fuel-Colt. Development of improved weather forecasting models, facilitation of public-private partnership in providing services, and formation of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients: