Weather radars are powerful systems that use pulsed radio waves to detect precipitation, snow, wind, hail and other atmospheric phenomena. They are widely used for various applications like monitoring real-time weather conditions, tracking severe weather events such as hurricanes, cyclones, blizzards, analyzing weather patterns and forecasting. Weather radars provide high-resolution images that help meteorologists detect storms that may threaten life and property. The data collected also assists in monitoring long term climate changes and analyzing their impact. With increasing climate uncertainty and frequency of extreme weather events, demand for advanced weather monitoring systems is on the rise. The global Weather Radar Market is experiencing significant growth due to growing need for precise weather forecasting across various industries such as aviation, marine, agriculture and energy sector.

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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the weather radar market is the development of dual polarization technology. Dual polarization radars transmit radio waves with two polarized components (horizontal and vertical) instead of single polarization. This helps in better detection of hydrometeors (ice, hail etc.) and provides more accurate measurements of rain intensity. Dual polarization radars have significantly improved precipitation estimation and storm detection capabilities. Other key trends include development of compact and mobile weather radars, integration of new frequencies like C-band and X-band, use of cloud computing for big data analysis and deployment of weather radars on unmanned aerial vehicles (UAVs) and aircraft. These technological advancements are expected to boost adoption of weather radars during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the weather radar market is moderate as building a new weather radar system requires significant capital investment and technology. However, innovation in miniaturization and dual-polarization allows easier market entry.

Bargaining power of buyers: The bargaining power of buyers is moderate. While weather radars have multiple applications for government and air traffic control agencies, buyers have sufficient alternatives and options to negotiate better prices.

Bargaining power of suppliers: Component suppliers for weather radars like antenna system manufacturers and signal processors hold moderate bargaining power due to lack of substitutes. This results in supplier consolidation in some areas.

Threat of new substitutes:

There exists a low threat from substitutes as weather radars provide unparalleled accuracy for precipitation monitoring compared to satellite imagery or other weather monitoring equipment.

Competitive rivalry: The global weather radar market is consolidated with top players like Diageo PLC, Bacardi Ltd, Asahi Group Holdings Ltd capturing over 50% share. Intense competition exists based on technological advancements, pricing, and product differentiation.

Key Takeaways

The global weather radar market is expected to witness high growth. The market is projected to reach US$ 230.46 Mn by 2030 from US$ 136.28 Mn in 2023, expanding at a CAGR of 12% during the forecast period.

Regional analysis:

North America dominates the global weather radar market currently, followed by Europe and Asia Pacific. Stringent aviation safety regulations and increasing meteorological investments will drive the North America region. Countries like China, India, and South Korea are emerging revenue pockets in Asia Pacific due to rising airport infrastructure and disaster management spending.

Key players:

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. Capabilities in dual polarization, long-range monitoring, and compact solutions will determine the competitive intensity in the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it