“Global Weather Forecasting System Market Analysis & Opportunity Outlook 2021”
The global weather forecasting system market is segmented into end user such as agriculture, aviation, marine, energy, military and transportation. Growing safety and security concerns amongst the consumers is a key factor which is anticipated to fuel the growth of global weather forecasting system market. The rise of the weather forecasting system market is backed by growing adoption of advanced weather forecasting technologies in order to prevent hazardous impact of climate changes and extreme weather on human’s regular life.
Global weather forecasting system market is expected to register a CAGR of 7.0% over the forecast period. Moreover, the global weather forecasting system market was valued at USD 1.5 Billion in 2016 and is expected to reach at notable revenue of 2.2 Billion by the end of 2021. The market is expected to expand due to a number of factors such as rising air and sea transport and uncertainty of rain fall across the globe.
The weather satellite systems segment by system type is likely to grow at remarkable pace during the forecast period. Rising demand for weather forecasting in military sector and marine sector to ensure safety of the consumers is a major factor which is projected to bolster the growth of this segment during the forecast period.
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Growing need for air traffic control
Factors such as increasing number of air passengers, growing air traffic coupled with increasing concern regarding safety and security of the passengers are projected to drive the growth of weather forecasting system market over the forecast period. Further, growing need to minimize the chances of accidents of passengers travelling by air due to climate change is likely to augment the demand for weather forecasting system in near future.
Favourable government initiatives and programmes
Countries such as Bangladesh, Burma, Honduras, Vietnam, Japan and other are the major victims of extreme weather and its hazardous impacts. Further, government programmes and initiatives in order to alert population regarding upcoming danger and to ensure population’s safety are estimated to be one of the major factors behind the growth of weather forecasting system market during the forecast period. Although, higher equipment cost coupled with complexity of weather forecasting procedures are likely to inhibit the growth of the Global Weather Forecasting System Market in the near future.
The report titled “Global Weather Forecasting System Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global weather forecasting system market in terms of market segmentation by component, by equipment, by system type, by forecast type, by end-user type and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global weather forecasting system market which includes company profiling of Campbell Scientific, Inc., Vaisala Oyj, Airmar Technology Corporation, Columbia Weather Systems Inc., Morcom International Inc., All Weather Inc., Thales S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global weather forecasting system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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