A $45B Market Opportunity By 2030
The frequency and the intensity of extreme weather events have been increasing consistently over the years due to climate change, with thousands of fatalities and damage costs piling up to 4+ trillion USD per year and growing.
of the European GDP is sensitive to weather
Socio-economic benefits exceed €15 billion per year, with a more likely value being €61 billion per year for Europe alone.
Budgetary impact of extreme weather events ranges (data up to samples before 2007) between 0.23% and 1.1% of GDP
Climate change impact on global annual GDP are projected to rise over time to likely levels of 1.0% to 3.3% by 2060
Climate change could cost the US up to 10.5% of its GDP by 2100.
In a recent socio-economical study 1 , EUMETSAT (the European Organisation for the Exploitation of Meteorological Satellites) explains that a third of the European GDP is sensitive to weather. The study’s subject was the protection of property and infrastructure, the direct benefits of weather forecasting to the economy in transport, energy production, agriculture, leisure, and finally, its private use by the European citizens. It further assessed that excluding any provision for life safety and considering a conservative estimation approach, forecast information’s socio-economic benefits exceed €15 billion per year, with a more likely value being €61 billion per year for Europe alone.
The effect of climate change impacts on the economy is the subject of numerous similar studies. The European Central Bank published a study 2 showing that the budgetary impact of extreme weather events ranges (data up to samples before 2007) between 0.23% and 1.1% of GDP depending on the country group and the definition for extreme weather events.
The effects of extreme weather conditions and climate change impact on global annual GDP are projected to rise over time to likely levels of 1.0% to 3.3% by 2060, according to a study of the OECD 3 (Organisation of Economic and Co-operation and Development). Another research 4 reported by the Washington Post 5 shows that climate change could cost the US up to 10.5% of its GDP by 2100.
Governmental agencies use only a handful of satellites to provide just about enough data for weather forecasting. Research shows there is a huge scope to improve quality and timeliness of weather forecast and the market for Earth Observation weather data will grow to a multi-billion dollar market in the very near future.
Exovision is addressing this need by the establishing a dedicated Microwave Satellite Constellation to complement the legacy Earth Observation missions. Our concept is flexible, scalable, and focused on the most impactful data. At the technical Level our solution is based on using Microwave sensors to measure atmospheric water composition with high frequency and resolution for precise weather forecasting. We lead a consortium of well-established companies with proven expertise, sharing the New Space spirit.
We invite you to come and share in our mission and we will be glad to give you further details to help you decide how your investment in us can meet your expectations and more.