According to research, the radar sensors market is expected to grow at a market value of nearly $35.23 Billion by 2026, at approximately 20% CAGR. A radar sensor is an electronic device which has its application in detecting the velocity and position of an object located at a distance such as a ship, aircraft, motorbike, or vehicle. The basic working principle of radar sensors is to detect electromagnetic emissions with the help of a superheterodyne receiver and when the transmission is identified it alter the person in the vehicle. Also, the advanced development in the technology of GPS is embedded into radar sensors which provide the storage of locations impelled by the sensor when the user reaches their destination.
The key drivers of the growth of radar sensors market include increasing territorial conflicts in various regions, growing focus on comfort and safety, geopolitical instabilities, rising adoption of radar sensor in defense sector where militaries look forward to replacing legacy systems, and assistance features in vehicles. In addition, increased spending in the defense segment especially in developing countries is likely to spur the overall development of this market. Furthermore, the prominence approach of a driverless car is an excellent opportunity for radar sensors which is the contributing factor to the market growth. However, the high development cost is curbing the growth of radar sensor market.
The market research study on “Radar Sensors Market (Type: Imaging Radar (CW Radar, Pulse Radar), Non-Imaging Radar (Speed Gauge, Altimeter); Frequency Band: HF, VHF and UHF bands, L, S, C and S bands, Ku, K, Ka, V and W bands; Range: Short Range Radar, Mid Range Radar, Long Range Radar; Vertical: Commercial, Government, Industrial; Application: Aerospace & Defense, Automotive, Industrial, Security & Surveillance, Environmental & Weather Monitoring, Traffic Monitoring & Management) - Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026” offers a detailed insights on the global radar sensors market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global radar sensors market, its type, frequency band, range, vertical, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global radar sensors market size and volume, and segment markets by type, application, and geography along with the information on companies operating in the market. The radar sensors market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East and Africa followed by major countries. North America region is anticipated to hold the largest market share during forecast period due to technological advancement, rise in adoption of radar sensors, increasing safety feature systems in the vehicles, and the strong presence of key market players. For each region, the market size and volume for different segments has been covered under the scope of report. The players profiled in the report Inelta Sensor Systems GmbH & Co. KG, Micro-Epsilon, Solartron Metrology, Trans-Tek Inc., RDP Electronics Ltd., Kyowa Electronic Instruments Co., Ltd., and among others.
The global radar sensors market is segmented as below:
Market By Type
Market By Frequency Band
Market By Range
Market By Vertical
Market By Application
Market By Geography