Report : North America Aviation Weather Forecasting System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Component (Hardware, Software, and Services), Application (Weather Stations, Weather Drones, Weather Balloons, and Others), and Forecast Type (Short Range, Medium Range, Extended Range, and Long Range)
At 6.5% CAGR, the North America Aviation Weather Forecasting System Market is speculated to be worth US$ 377.04 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America aviation weather forecasting system market was valued at US$ 258.29 million in 2022 and is expected to reach US$ 377.04 million by 2028, registering an annual growth rate of 6.5% from 2022 to 2028. Burgeoning awareness for safer aviation operations and introduction of electronic weather forecasting systems.
Airlines are more focused on aircraft safety with the rising aircraft movement worldwide. To ensure aircraft safety, all the aircraft operations are now being monitored at every stage, from flight component checks to flight operations. The airlines focus on avoiding the risk of turbulence to retain the proper working of the aircraft parts for which the aviation weather forecasting data is utilized to achieve a safer flight operation. Several factors such as high cloud and fog, atmospheric temperature, space weather conditions, and levels of volcanic ash in the atmosphere are monitored and analyzed before any flight operation, based on data collected from aviation weather forecasting systems. These systems help generate different weather reports and forecast analyses to make decisions for any flight operations to ensure the safety of passengers and flight operations. Moreover, the demand for safer flight operations among airline operators is also supported by rising awareness about reducing the overall operational costs of an aircraft operation. For instance, according to several aviation sources, airlines can lose ~US$ 13,000 whenever a flight is canceled due to uncertain events, such as unsuitable weather, which is a considerable loss for any airline operating across any airport. Moreover, in 2018, the US airline industry witnessed a loss of around US$ 340 million due to weather-related flight operation delays. Such factors are generating awareness among airline companies to check all the weather details and forecasting data to conduct a cost-effective and safer flight operation.
On the contrary, less reliable long term weather forecasts.
- Based on component, the North America aviation weather forecasting system market is segmented into hardware, software, and services. The hardware segment held 44.0% market share in 2022, amassing US$ 112.74 million. It is projected to garner US$ 156.99 million by 2028 to expand at 5.7% CAGR during 2022–2028.
- Based on application, the North America aviation weather forecasting system market is segmented into weather stations, weather drones, weather balloons, and others. The weather stations segment held 52.6% market share in 2022, amassing US$ 136.48 million. It is projected to garner US$ 203.86 million by 2028 to expand at 6.9% CAGR during 2022–2028.
- Based on end user, the North America aviation weather forecasting system market is segmented into short-range, medium-range, extended-range, and long-range. The short-range segment held 59.7% market share in 2022, amassing US$ 155.23 million. It is projected to garner US$ 236.56 million by 2028 to expand at 7.3% CAGR during 2022–2028
- Based on country, the North America aviation weather forecasting system market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.8% market share in 2022. It was assessed at US$ 189.05 million in 2022 and is likely to hit US$ 284.02 million by 2028, exhibiting a CAGR of 7.0% during the forecast period.
Key players dominating the North America aviation weather forecasting system market are Campbell Scientific, Inc.; Collins Aerospace; IBM Corporation; Universal Weather and Aviation, Inc.; Sutron; UBIMET; Vaisala; DTN; and Spire Global among others.
- In May 2022, Spire Global has received a five-year, multimillion-dollar award to provide weather forecasts for TCOM, an intelligence, surveillance, and reconnaissance (ISR) firm based in the United States. The subcontract will provide weather forecasts in ten sites where TCOM operates aerostats, which are aircraft that use a lifting gas to become airborne.
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