Weather radar is an essential tool for meteorologists that uses pulsed radio waves to locate precipitation and wind in the Earth's atmosphere. It detects the size, location, and motion of objects such as raindrops, snowflakes, and hail. Weather radars are also used by the military, aviation sector, and broadcast meteorologists to scan the skies and warn populations of approaching severe weather. They provide vital information to predict weather patterns, track storms, and monitor atmospheric conditions.
The global weather radar market is estimated to be valued at US$ 136.28 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: As mentioned in the heading, the weather radar market is witnessing high growth owing to the increasing demand for precision in weather forecasting. Weather forecasting plays a crucial role in various industries such as aviation, maritime, agriculture, and energy. Thus, demand for accurate weather predictions is driving the need for advanced weather radars with higher resolution. Furthermore, weather radars with dual polarization technology provide more comprehensive data about the storm's composition and structure which helps meteorologists in better analysis and warnings. This is expected to fuel the growth of the weather radar market over the forecast period. SWOT Analysis Strength: Weather Radar Market technology is evolving rapidly with advanced features like dual polarization, phased array, and digital signal processing enabling more accurate predictions. Weather radars can scan the atmosphere quickly to detect storms, winds, rainfall intensity which helps issue timely warnings. They provide high-resolution images and data on precipitation types over large areas. Weakness: High installation and maintenance costs of weather radars pose budgetary challenges for weather services. Accuracy may reduce at long ranges due to beam broadening and attenuation effects. Certain weather phenomena like hail are still difficult to detect precisely. Opportunity: Growing demand for hyperlocal weather forecasts is opening opportunities to deploy more compact, low-cost weather radars. Integrating weather radars with AI/ML models can improve nowcasting abilities. Increasing awareness on climate change is propelling investments in modernizing national weather radar networks. Threats: Technological advancements by competitors may lead to faster obsolescence of existing radars. Budget cuts during economic downturns may delay radar procurements and upgrades. Natural calamities can damage expensive radar infrastructure requiring costly repairs. Key Takeaways The global Weather Radar Market is expected to witness high growth. The global weather radar market is estimated to be valued at US$ 136.28 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030. Regional analysis related content comprises North America currently dominates the market due to large investments in updating NEXRAD network of Doppler weather radars along coastal regions. Asia Pacific is poised to grow at fastest pace on account of radar deployment plans across China, India and Southeast Asian countries to strengthen disaster management. Key players related content comprises Key players operating in the Weather Radar Market are Diageo PLC, Bacardi Ltd, Asahi Group Holdings Ltd, Pernod Ricard SA, and Suntory Beverage & Food Ltd, among others. These companies are focusing on improving spectral diversity, beamforming techniques and decentralizing radar networks. They have been partnering with meteorological departments and disaster management agencies for product development and supply contracts. For more insights, read- https://www.pressreleasebulletin.com/weather-radar-market-trends-size-and-share-analysis/
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
February 2024
Categories
All
|