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Weather Forecasting Services Market worth US$ 2,732.52 million by 2028 - Exclusive Report by The Insight Partners
Weather Forecasting Services Market
According to our latest market study on "Weather Forecasting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Industry, Purpose, Forecasting Type, and Organization Size," the market was valued at US$ 1,501.00 million in 2021 and is projected to reach US$ 2,732.52 million by 2028; it is expected to grow at a CAGR of 8.9% from 2021 to 2028.
Weather forecasting services are highly efficient and helpful when dealing with the turbulence and wind shear issues. These services help monitor and measure wind at and near the airport environment. They are also used in the aerospace sector to improve long-range wind awareness.
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Impact of COVID-19 Pandemic on Weather Forecasting Services Market
The COVID-19 epidemic has had a substantial impact on the weather forecasting services market. The grounding of the majority of the world's fleet has resulted in a significant reduction in commercial aircraft flights, which provide critical weather data. Retail plane data is one of several sources used by meteorological organizations to forecast the weather, and it helps improve the accuracy of predicting most weather events, such as hurricanes. According to the European Centre of Medium-Range Weather Forecasts (ECMRWF), at the end of March 2020, data provided by US aircraft had decreased by 50%, while readings provided by aircraft across Europe had been reduced by 80%. According to the center, cutting off all data from aircraft would reduce the accuracy of weather forecasts by around 15%. The impact of COVID-19 pandemic on the global airline industry will have a severe negative effect on both short and long-term readings.
Companies Mentioned:
• Global Weather Corporation
• Accuweather, Inc.
• BMT Group Ltd.
• Skymet Weather Services Pvt. Ltd.
• Precision Weather
• The Weather Company
• Fugro
• Enav S.p.A.
• Met Office
• Skyview Systems Ltd.
Weather Forecasting Services Market Insights
Significant Investments in Clean Energies and Government Support
The rising awareness among the individuals about clean energies and strong demand from several prominent non-profit government organizations for them have significantly favored their uptake globally. It has led to a decrease in uncertainties toward climate change. For instance, according to one of the United Nations Environment Programme (UNEP) research, in 2019, the global investment into renewable energy rose to 1% from 2018 and was valued at US$ 282.2 billion. Furthermore, the US-registered 28% increase in their investment for renewable energy, whereas, the European region witnessed a decline of 7% in 2019 for their clean energy-related spending. Overall, the total global investment in renewable energy and clean energy saw a steady rise in investment, especially in the past few years.
The global Weather Forecasting Services market has been segmented as mentioned below:
By Industry:
• Agriculture
• Aviation
• Marine
• Transport and Logistics
• Energy and Utilities
• Oil and Gas
• Media
• Insurance
• Retail
• Construction and Mining
• Others
By Purpose:
• Operational Efficiency
• Safety
• Others
By Forecasting Type
• Nowcast
• Short Range
• Medium Range
• Long Range
By Organization Size
• Large Enterprises
• Small and Medium-sized Enterprises
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The document will help readers gain vital information regarding the market such as leading players, their company profiles, portfolios, financial information, and latest developments. The report also enables companies in making strategic decisions such as partnerships, product launches, collaborations, etc. to gain a competitive edge.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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