Aviation Weather Forecasting Services Market Report
Aviation Weather Forecasting Services Market is Segmented by Forecasting Type (Aerodrome, Area/Route, and Special), by Forecasting Duration Type (Short-term, Medium-term, and Long-term), by Distribution Method Type (Electronic and Written), by Aviation Type (Civil Aviation and Military Aviation), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Aviation Weather Forecasting Services Market is Segmented by Forecasting Type (Aerodrome, Area/Route, and Special), by Forecasting Duration Type (Short-term, Medium-term, and Long-term), by Distribution Method Type...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The global aviation weather forecasting services market is projected to grow at an impressive growth rate over the next five years to reach US$ 447.6 million in 2024. An organic growth of the aircraft industry, rising aircraft fleet size, increasing focus on improving safety and operational efficiency, and advancement in avionics technology are likely to create a sustainable demand for weather forecasting services in the aviation industry in the foreseen future.
Boeing anticipated that there would be total deliveries of 44,040 commercial and regional aircraft worth US$ 6.8 trillion in the global marketplace during 2019-2038. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 62.8% of the total commercial aircraft deliveries during 2019-2038. An expected healthy CAGR of 4.6% in air passenger traffic during 2019-2038 will chiefly drive the demand for commercial aircraft. This is likely to facilitate a healthy long-term demand for weather forecasting services in the coming five years.
The aviation industry is sensitive to the weather and no decision is taken without first putting the weather into consideration. Safety has come under some threat as demand for air travel has increased with an unbalanced increase in airport capacities and facilities coupled with frequent extreme weather conditions being experienced across the world. There have been as many as 79 accidents related to flights during 2012-2017, taking the life of about 2,260 passengers around the world. The weather has been one of the prominent factors for many of these accidents. Besides, increase in focus on operational efficiency and a growth in public-private partnership towards producing more accurate and reliable weather forecasts are further shaping a positive trend in the market.