Market development

Sky, clouds and a city below (aerial view)

COVID-19 pandemic will continue to cause significant uncertainty in 2021. Still, the global economy is expected to continue to recover in 2021.

Market for high-end industrial instruments is expected to recover after weak 2020.  Life science and power industry market is expected to continue to grow.

Meteorology market in developing countries is expected to continue to suffer due to lack of funding and delayed decision making while demand in developed countries is expected to remain stable. Aviation market declined significantly in 2020 as a result of the global pandemic, and market outlook remains weak, although some recovery is expected. Ground transportation market is expected to be stable. Renewable energy market is expected to continue to grow.

Financial Statement Release January-December 2020, February 19, 2021