Weather Modification Market is Expected to Touch USD 290.5 Million by 2027
Published | January 2021
According to BlueWeave Consulting, the global weather modification market is estimated to
have reached USD 152.3 million in 2020 and is further projected to post USD
290.5 million by 2027, growing at a CAGR of 9.6% during 2021-2027 (forecast
period). The weather modification market is projected to grow vibrantly in the
upcoming years owing to the increasing application in various end-user
industries ranging from agriculture, aviation, defence to water management
bodies, entertainment, and more. Additionally, escalating utilization in the aerospace
and aviation industry is driving the market. An increasing number of weather
modification providers investing in building in-house research facilities to
gather effective seeding methods to expand end-users base is expected to
strongly influence the market across the globe.
Government initiatives such as increasing the adoption of weather modification technologies to enhance the water level in different countries such as India is anticipated to propel the demand for the weather modification market. Moreover, governments in countries such as India, UAE, and China are spending significantly on weather modification activities. Government initiatives promoting cloud seeding in areas facing dry spells are also a major factor that boosts the global weather modification market. The United Nations predicts that 14% of the world’s population will suffer from water scarcity by 2026.
Declining Figures of Rainfall
A decline in rainfall rate across the globe due to global warming and pollution is increasing the risk of drought conditions globally. This factor is anticipated to positively impact the growth of the global weather modification market. Additionally, the rising application of cloud seeding technology in weather modification for events and pollution control is expected to propel significant growth in the market over the forecast period. Additionally, increasing usage in the aerospace and aviation industry accompanied by increasing demand from developed and developing countries to strengthen the agricultural production capabilities is attributed to driving the cloud seeding equipment market subsequently over the forecast period.
Aerial cloud seeding equipment segment occupies the major share of the global weather modification market
In a mode of seeding segment, the aerial cloud seeding equipment segment has dominated the global weather modification market with a major market share and is expected to dominate the overall cloud seeding equipment market during the forecast period i.e., 2021-2027. However, in such techniques, the seeding has to be done directly into the clouds and due to this aerial cloud seeding can be dangerous for rainmakers. A safer technique for cloud seeding can have a better future since there is no risk to human lives. Moreover, the aerial cloud seeding equipment segment is expected to observe a growth rate of 1.5x over the forecast period.
Global Weather Modification market: Regional insights
The Asia Pacific is holding the largest market share for the weather modification market due to higher dependency of agriculture on monsoon, strong economic growth, and rising demand for water owing to the rapidly expanding population. Due to high technological advancements in North America will hold a maximum market share for weather modification shortly. Sturdy economic progress, driving the growth of the weather modification market in the MEA region. The Demand for the weather modification market has risen dramatically over the past 18 months globally.
The leading players” in the global weather modification market include Weather Modification, Inc., Cloud Seeding Technologies, RHS Consulting, Ltd., North American Weather Consultants, Inc., Seeding Operations & Atmospheric Research (SOAR), Kyathi Climate Modification Consultants LLP, Ice Crystal Engineering, MettechSpA, AF Jets SdnBhd, Snowy Hydro Limited & Other prominent players. The weather modification market has witnessed various inorganic growth strategies, such as acquisitions & mergers, partnerships, and collaborations, adopted by companies over the recent past with the government officials.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global weather modification market size & forecast. The report promises to provide recent technology trends in the weather modification market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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