Westford, USA, Aug. 18, 2022 (GLOBE NEWSWIRE) -- As we continue to experience more extreme weather conditions, businesses and organizations in the global weather radar market are looking for weather radar solutions to stay informed and protect their operations. The demand for weather radar is constantly growing as the need for more accurate and up-to-date information about the weather becomes more and more important. Weather radar is used by everyone from farmers to airline pilots to emergency responders, and its benefits are undeniable.
There are two main types available in the global weather radar market: ground-based and satellite-based. Ground-based radar is usually found at airports or other locations where it can get a clear view of the sky, while satellite-based radar is used to cover large areas like whole countries or continents.
As the use of radar technology grows, so does the demand for weather radar market. An estimated 73% percent of airlines rely on ground-based radars for flight planning, while 79% of militaries use ground-based radars for tactical decision making. In the energy industry, weather radar is indispensable for predicting tornadoes and other extreme weather events. And while research agencies are always eager to improve their data collection capabilities, weather radar is a critical tool in measuring hazardous weather conditions.
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Flooding, Hurricanes, and Other Extreme Weather Events are Becoming More Common | More than $3.47 Trillion Lost to Adverse Weather Events
Looking at the data, it is clear that weather-related disasters are one of the leading causes of death in the world. As per latest findings by SkyQuest on the weather radar market, more than 490,000 people have lost their lives due to extreme weather events such as hurricane, flooding, and thunderstorm, among others in the last 20 years.
The report also shows that young people are the most vulnerable group when it comes to weather-related disasters. This is because they are more likely to be displaced or homeless, which makes them more exposed to risks.
At least 24,500 people die each year from extreme weather events, and this number is only going to increase as we move into the future in the global weather radar market. In the 50 years, the world witnessed at least 11,000 extreme weather events. As of July 2022, the global economy suffered a loss of around $3.47 trillion from the year 1970.
In the United States, demand for weather radar market is increasing as the effects of climate change are becoming more severe. Flooding, hurricanes, and other extreme weather events are becoming more common, and as a result, people are looking for ways to protect themselves and their property. Weather radar can help people track storms and make decisions about whether to evacuate or take other safety measures. In order to overcome the challenges, the US government has so far deployed over 200 doppler radars to get the most accurate information and avoid the loss of life and nation’s wealth.
Developing Countries to Offers Lucrative Opportunity for the Weather Radar Market Participants
Over 2 million people died of extreme weather event across the globe in the last 50 years. Wherein, low- and middle-income countries were the most affected due to their inadequate capability to detect and plan the adverse weather conditions. In the last 20 years, the majority of deaths (75%) occurred in low-income countries, with India accounting for the most fatalities (152,000). Other countries with high numbers of deaths included China (40,000), Pakistan (38,000) and Bangladesh (15,000).
In line with this, developing countries around the globe have started addressing these issues by adopting advanced weather radar technology to accurately forecast weather and avoid loss further. Many developing countries in the global weather radar market are now benefiting from increased access to doppler radar technology, thanks in part to organizations like the United Nations Development Program (UNDP). In fact, UNDP has helped install over 1,000 radar systems until 2022 in developing countries. Apart from this, the government metrological department have also started taking initiatives to but quality weather radar. As of July 2022, Indian Metrological Department has announced to purchase 11 doppler radar in the coming months. In January 2021, the department commissioned 4 doppler radar in Leh, India.
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There is an expanding aviation, defense, and weather forecast industries in developing countries across the global weather radar market. This means that many weather radar manufacturers are finding opportunities in these regions. For example, the aviation industry is booming in countries like China and India. This has created a need for weather radar manufacturers to develop new products and services to meet this demand. In addition, defense organizations are increasingly investing in weather forecast technology to improve their strategies. This has led to an increase in demand for weather radar systems across the board.
The aerospace and defense industries are two of the biggest drivers of economic growth in many developing countries. And, as those industries boom, so too does the need for weather radar." This is especially true in countries like India, Indonesia, and Brazil, where the aviation and defense sectors are respectively worth $128 billion, $127 billion, and $112 billion. Consequently, weather radar manufacturers that can tap into these growing industries will be able to reap significant rewards.
SkyQuest has published a report global weather radar market that covers a detailed analysis of the demand and supply gap of the radar across countries around the globe. The report also provides data on the current adoption, future adoption rate, and total need for weather radar and available number of radars in the global weather radar market. The report would help the market players in identifying the market potential and formulating growth and manufacturing strategy as per the end-user sector.
Top Players in Global Weather Radar Market
- Collins Aerospace, a Raytheon Technologies company (US)
- Honeywell International Inc. (US)
- EWR Radar Systems (US)
- Enterprise Electronics Corporation (US)
- LEONARDO Germany GmbH (Germany)
- Beijing Minstar Radar Co., Ltd (China)
- Vaisala (Finland)
- GAMIC mbH (Germany)
- Furuno Electric Co., Ltd. (Japan)
- Northrop Grumman (US)
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