Weather Modification Market is Expected to Touch USD 290.5 Million by 2027
Published | 13 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 Projects
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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