The aviation weather forecasting system market in Asia Pacific is expected to grow from US$ 196.08 million in 2022 to US$ 341.11 million by 2028; it is estimated to grow at a CAGR of 9.7% from 2022 to 2028.
The growing air passenger traffic is catalyzing the procurement of commercial aircraft fleets. To cater to the increasing passenger traffic and rising aircraft fleet, several countries—such as China, India, and Japan—that have large air traffic volume have already made their plans for building new airports across their respective regions. For instance, the Melbourne International Airports started its renovation activities in 2021. Similarly, the construction of Western Sydney Airport started in November 2021. According to several aviation sources, seven of the top 10 expensive airport projects that entered the execution phase in 2021 are in Asia. Such factors are expected to generate future opportunities for aviation weather forecasting systems and services during the forecast period across Asia Pacific. For instance, according to the plans released by the Civil Aviation Administration of China (CAAC) in 2021, China has already planned to build 215 airports by the end of 2035, which is one of the major factors expected to catalyze the demand for aviation weather forecasting systems during the forecast period. According to the plans released by the Civil Aviation Ministry of India in 2022, the country plans to initiate 220 new airport projects by 2025. Hence, construction of new airports and expansion of existing ones are likely to generate demand for aviation weather forecasting systems and services during the forecast period.
Asia Pacific Aviation Weather Forecasting System Market Segmentation
The Asia Pacific aviation weather forecasting system market is segmented on the basis of component, application, forecast type, and country. Based on component, the market is categorized into hardware, software, and services. In 2022, the hardware segment held the largest share of the market and is expected to register the highest CAGR during the forecast period. By application, the Asia Pacific aviation weather forecasting system market is divided into weather stations, weather drones, weather balloons, and others. The weather stations segment held the largest market share in 2022, and the weather drones segment is expected to register the highest CAGR in the market during the forecast period. In terms of forecast type, the Asia Pacific aviation weather forecasting system market is segmented into short-range, medium-range, extended-range, and long-range. The short-range segment held the largest market share in 2022 and is expected to register the highest CAGR in the market during the forecast period. From country point of reference, the Asia Pacific aviation weather forecasting system market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2022, China held the largest market share, and India is expected to register the highest CAGR during the forecast period.
Campbell Scientific, Inc.; Collins Aerospace; IBM Corporation; Universal Weather and Aviation, Inc.; Sutron; UBIMET; Vaisala; DTN; and Spire Global are among the leading companies operating in the Asia Pacific aviation weather forecasting system market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 196.08 Million |
| Market Size by 2028 | US$ 341.11 Million |
| CAGR (2022 - 2028) | 9.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Aviation Weather Forecasting System Market is valued at US$ 196.08 Million in 2022, it is projected to reach US$ 341.11 Million by 2028.
As per our report Asia Pacific Aviation Weather Forecasting System Market, the market size is valued at US$ 196.08 Million in 2022, projecting it to reach US$ 341.11 Million by 2028. This translates to a CAGR of approximately 9.7% during the forecast period.
The Asia Pacific Aviation Weather Forecasting System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Aviation Weather Forecasting System Market report:
The Asia Pacific Aviation Weather Forecasting System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Aviation Weather Forecasting System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Aviation Weather Forecasting System Market value chain can benefit from the information contained in a comprehensive market report.
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