This new report from Stratview Research analyses the Aviation Weather Forecasting Services Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aviation Weather Forecasting Services Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aviation Weather Forecasting Services Market is no different. Derived from the previous market scenario, the Aviation Weather Forecasting Services Market is likely to reach US$ 447.6 million in 2024 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
Market Share Analysis
Aviation Weather Forecasting Services Market Share by Forecasting Type
The global aviation weather forecasting services market is segmented based on the forecasting type as Aerodrome Forecast, Area/Route Forecast, and Special Forecast. Aerodrome forecast is expected to remain the most dominant segment of the aviation weather forecasting services market over the next five years. Almost every airport in the world has Terminal Aerodrome Forecast (TAF) written for them. Due to a continuous increase in fleet size and increasing involvement of private players in these services, the segment is expected to grow at a healthy rate in the coming five years.
Aviation Weather Forecasting Services Market Share by Forecasting Duration Type
Based on the forecasting duration type, the global aviation weather forecasting services market is segmented as Short-Term, Medium-Term, and Long-Term Forecast. Short-term forecast is projected to remain the most dominant segment of the global aviation weather forecasting services market over the next five years. Short-term forecasts are the most widely used in the aviation industry, owing to their higher accuracy as compared to longer-term forecasts. Additionally, the technological innovations, an increase in the usage of electronic mode of transmission, and a more efficient weather-model further facilitate the use of short-term forecasts.
Aviation Weather Forecasting Services Market Share by Distribution Method Type
Based on the distribution method type, the aviation weather forecasting services market is segmented as Electronic and Written. The electronic forecast segment is projected to remain the dominant mode of communication in the global aviation weather forecasting services market during the forecast period, propelled by the advancement of technology, uninterrupted data transfer, and a better avionics user-interface.
Aviation Weather Forecasting Services Market Share by Aircraft Type
Based on the aircraft type, the aviation weather forecasting services market is segmented as Civil Aviation and Military Aviation. Civil aviation is expected to remain the growth engine for the aviation weather forecasting services market over the next five years, whereas military aviation is projected to showcase a flatter growth during the same period.
Regional Insights
Based on regions, North America is expected to remain the largest aviation weather forecasting services market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. The highest growth of Asia-Pacific is driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, presence of the most weather-sensitive nations, such as India and the Philippines, and rising aircraft fleet size.
Key Players
Some of the key players in the aviation weather forecasting services market include Universal Weather and Aviation Inc., Rockwell Collins, The Weather Company – IBM, Jeppesen, and World Fuel-Colt. The development of improved weather forecasting models, facilitation of public-private partnership in providing services, and formation of mergers & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.