The global market size for radar sensors is predicted to be at USD 21.64 billion in 2024 and USD 32.70 billion by 2029, growing at a CAGR of 8.6% during the forecast period.
Radar is a detection system that utilizes radio signals to decide the distance, trajectory, and speed of bodies. This can track planes, vessels, satellites, missiles, automobiles, the atmosphere, and the landscape. The radar system comprises a signal transmitter generating electromagnetic radiation in the form of radio or microwaves, a data transmitting antenna, a receiver antenna, and a receiver and analyzer/processor for determining the object's properties. Electromagnetic waves (Radio Waves) from the transmitter bounce off the body and return to the receiving antenna, providing information regarding the distance and velocity of the object.
The technological developments in the field, such as the development of vehicle and weapon identifiable Radar Sensors, are making this technology better and easier to use, which can act as another driver to the market.
The increase in privacy concerns is one factor significantly restraining the radar sensors market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
8.6% |
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Segments Covered |
By Component, End-Use, Range, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Airbus Defense and Space, BAE Systems, Leonardo S.p.A., NXP Semiconductors N.V., Israel Aerospace Industries Ltd, Raytheon Corporation, Inc., General Dynamics Corporation, Infineon Technologies AG, Lockheed Martin Corporation, and Rockwell Collins |
Based on the component, the antenna segment held the majority of the share, which can be attributed to the increased demand for digital signal processing and the growing usage of radar systems worldwide. Also, the transmitter is expected to be the fastest-growing segment, with over 11.5%, because the transmitters are the core of the radar sensors.
Based on range, the Long Range is the largest and the fastest-growing segment. This segment is expected to expand at a CAGR of 12.6% during the forecast period due to the usage of these sensors in the aerospace and defense sector. In addition, these sensors are beneficial for surveillance purposes. With increasing threats to security, many countries are investing in these technologies, which could be a significant driver of the long-range radar sensor market.
Based on the end-use, the military segment accounted for the largest share of the global radar sensors market, with over 45%, which can be attributed to the increasing safety concerns and the need for surveillance. In addition, the need for vehicle and weapon identification is a significant factor propelling this segment's growth.
Geographically, with significant support from the United States, North America registered the largest share of the global radar sensors market in 2021. It’s consistent with the well-known fact that the US has the most significant military power. Also, the investments being led into the field, North America is quickly followed by the Asia-Pacific region, with China pulling a lot of weight. The availability of investments and funding, coupled with China’s passion for military dominance, is the driving factor in the radar sensor market in this region. China has developed technology that can identify all types of bombers and fighter jets.
Airbus Defense and Space, BAE Systems, Leonardo S.p.A., NXP Semiconductors N.V., Israel Aerospace Industries Ltd, Raytheon Corporation, Inc., General Dynamics Corporation, Infineon Technologies AG, Lockheed Martin Corporation, and Rockwell Collins are a few of the promising companies in the global radar sensors market.
In June 2019, BAE Systems, Inc. confirmed the takeover of Riptide Autonomous Solutions (Riptide). It is a manufacturer of ground-breaking, accessible submerged vehicles or unmanned underwater vehicles (UUV). Adding the technological capacity of Riptide will allow BAE technologies to provide consumers with unparalleled versatility by providing UUVs and embedded payload solutions worthy of supporting a multitude of critical tasks.
By Component
By Range
By End-use
By Region
Frequently Asked Questions
The key drivers include the increasing adoption of radar sensors in automotive applications, rising demand for advanced driver assistance systems (ADAS), growing use in industrial and security applications, and advancements in radar technology, such as miniaturization and improved accuracy.
In the automotive industry, radar sensors are primarily used for collision avoidance systems, adaptive cruise control, blind-spot detection, parking assistance, and autonomous driving systems. These applications enhance vehicle safety and driving comfort.
Technological advancements such as the development of compact and high-frequency radar sensors, integration with artificial intelligence (AI) and machine learning (ML) for enhanced data processing, and the evolution of 5G technology are significantly influencing the radar sensors market.
The future outlook for the radar sensors market is positive, with expected growth driven by increasing adoption in autonomous vehicles, smart infrastructure, and industrial automation. Innovations in sensor technology and integration with other advanced systems will further propel market growth.
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