Radar Sensors Market Global Size, Scope, Analysis, and Business Future Growth by 2027

[Business Point 2021]

The global radar sensors market reached a value of US$ 13.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 36.2 Billion by 2027, exhibiting at a CAGR of 18.51% during 2022-2027.

Market Outlook:

Radar or radio detection and ranging sensors represent the electronic devices that are utilized for sensing electromagnetic emissions from objects, including aircraft, marine vessels, two-wheelers, automobiles, etc. They are generally available in speed gauge, altimeter, pulse, continuous wave, and imaging variants. Radar sensors intercept the reflected radio waves via an antenna and process the signals to provide insights. As such, they are also embedded with global positioning systems to store information about the motion trajectory, size, location, and characteristics of the objects.

Radar sensors are wireless and penetrate through denser mediums and insulators when compared to the traditionally used optical and infrared (IR) sensing devices.

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Industry Trends and Drivers:

The growing consumer concerns towards passenger safety are primarily driving the radar sensors market. Furthermore, the escalating demand for effective target surveillance, terrain tracking, navigation, interception, missile guidance, etc., is also augmenting the market growth. Besides this, the rising adoption of radar sensors in airport intrusion detection, prison perimeter, oil depot, and power grid security systems is also positively influencing the global market.

Additionally, numerous technological advancements, including the development of corner radar sensors for short-range surveillance and high-resolution tracking that provide enhanced target separation and object recognition under low visibility conditions, are acting as significant growth-inducing factors. Apart from this, the increasing integration of product variants with autonomous vehicles for detecting stationary objects in the path and operating automatic emergency braking of heavy commercial automobiles is anticipated to bolster the radar sensors market in the coming years.

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Competitive Landscape with Key Players:

Continental AG
DENSO Corporation
Hitachi Ltd
Honeywell International Inc.
Infineon Technologies AG
L3harris Technologies Inc.
Lockheed Martin Corporation
NXP Semiconductors N.V
Raytheon Technologies Corporation
Robert Bosch GmbH
Saab AB
STMicroelectronics
Texas Instruments Incorporated
Thales Group

Market Segmentation:

Breakup by Type:

Imaging
Non-Imaging

Breakup by Range:

Short Range
Medium Range
Long Range

Breakup by Application:

Automotive
Aerospace and Defense
Environment and Weather Monitoring
Traffic Management and Monitoring
Others

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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