Market outlook 2020

Sky, clouds and a city below (aerial view)

 

Market outlook is impacted by the COVID-19 pandemic and related economic downturn. For weather observation solutions, market in developed countries is expected to remain relatively stable while in developing countries the negative impact of the COVID-19 pandemic will be more significant. The restrictions imposed by governments and authorities on people and businesses as well as travel, will cause delays or interruptions globally in project and service deliveries.

Climate change and severe weather events drive need for continued replacement and enhancement of weather observation and forecasting capabilities. However, due to the economic impact and constraints caused by COVID-19 pandemic, decisions on larger meteorology infrastructure projects may be postponed.

In aviation, market for weather observation solutions is expected to suffer due to the steep decline in air traffic and consequent fall in aviation revenues. Ground transportation and road surface state modeling markets are expected to be more stable.

The renewable energy market is generally expected to continue to grow, but short-term investments in wind and solar energy capacity may suffer from increased market uncertainty and financing constraints.

In industrial measurements, increasing focus on energy and operations efficiency as well as increasing regulations and requirements for high-quality and security drive the need for high-end industrial instruments and systems. Industrial instruments and liquid measurements markets are expected to suffer from implications of the COVID-19 pandemic. Continuous monitoring systems and power industry markets’ growth is expected to continue.

Interim Report January-September 2020, October 27, 2020