Weather Forecasting Systems Market is Projected to Reach USD 1.99 Billion by 2020

Date: 2015-10-13

The weather forecasting systems market is estimated to be USD 1.50 billion in 2015, and is projected to reach USD 1.99 billion by 2020, at a CAGR of 5.81% from 2015 to 2020.

This report provides a comprehensive analysis of the weather forecasting systems market in North America, Europe, Asia-Pacific, and rest of the world. This market is segmented on the basis of end user, component, equipment, system type, and forecast type. On the basis of end user, the WFS market is segmented into aviation, agriculture, energy, marine, military, and transportation. In terms of component, the market is segmented into data loggers, sensors, software, and hardware. Based on equipment, the market is segmented into barometer, anemometer, hygrometer, rain gauge, thermometer, sling psychrometer, and weather balloons. On the basis of system type, the market is segmented into weather satellite systems, weather radar, weather station, and sounding systems & radiosondes. The weather forecasting system market is further classified on the basis of forecast type into normal range, short range, medium range, and long range. 

The WFS market in Asia-Pacific is projected to grow at the highest CAGR of 7.21% from 2015 to 2020. This growth is mainly attributed to the increasing applicability of weather forecasting systems in the field of agriculture, especially in the Asia-Pacific region.

The report also offers a competitive landscape by analyzing market share of key players in the WFS market. These key players include Vaisala Oyj (Finland), Campbell Scientific, Inc. (U.S.), Airmar Technology Corporation (U.S.), Thales S.A. (France), Liquid Robotics, Inc. (U.S.), Lockheed Martin Corporation (U.S.), All Weather, Inc. (U.S.), Morcom International, Inc. (Japan), Columbia Weather Systems, Inc. (U.S.), and Skye Instruments Ltd (U.K.). 

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