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Sectors most affected by the G5 geomagnetic storm
4
Resolution / Starting Odds
Telecommunications • 20%
Power utilities • 20%
Satellite operations • 20%
Navigation services • 20%
Other sectors • 20%
Sector-specific reports and economic impact analyses
Story
NOAA: First Extreme G5 Geomagnetic Storm in 21 Years Causes Global Aurora, Risks Power Disruptions
May 11, 2024, 02:19 PM
A severe geomagnetic storm, classified as G5—the highest intensity on the geomagnetic storm scale—has impacted Earth, resulting in spectacular displays of the Northern Lights across much of the Northern Hemisphere. This extreme solar storm, the first of its magnitude in 21 years, has been linked to a cluster of sunspots 16 times the diameter of Earth, following a week of intense solar activity. The auroras, typically confined to higher latitudes, were visible as far south as Florida in the U.S. and across parts of Europe. NOAA has raised concerns about potential disruptions to power grids, satellites, and communication systems, including GPS functionalities, with risks of power blackouts and widespread voltage issues.
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Similar markets
GPS • 25%
Power grids • 25%
High-frequency radios • 25%
Satellite communications • 25%
No significant impact • 33%
Impact in select regions • 33%
Widespread impact • 34%
Mild • 25%
Moderate • 25%
Severe • 25%
No significant impact • 25%
No activity • 25%
Minor (G1-G2) • 25%
Moderate (G3-G4) • 25%
Severe (G5) • 25%
Consumer Spending • 25%
Real Estate • 25%
Higher Education • 25%
Financial Services • 25%
Agriculture • 25%
Energy • 25%
Transport • 25%
Tourism • 25%
High impact • 33%
Moderate impact • 34%
Low impact • 33%
Energy • 25%
Defense • 25%
Technology • 25%
Finance • 25%
G1 (Minor) • 20%
G2 (Moderate) • 20%
G3 (Strong) • 20%
G4 (Severe) • 20%
G5 (Extreme) • 20%
Electric Vehicles • 25%
Semiconductors • 25%
Solar Cells • 25%
Steel and Aluminum • 25%
Oil and Gas • 33%
Mining • 33%
Manufacturing • 34%