Overview and Scope
A radar sensor is a device that uses radio waves to detect, track, and position objects without the need for direct contact. It is used to detect and track movements and stationary objects, providing information such as direction of movement, speed, distance, and angular position in relation to the sensor.
Sizing and Forecast
The radar sensor market size has grown rapidly in recent years. It will grow from $12.49 billion in 2023 to $14.43 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to increasing need for national security, growing initiatives of prominent players in germany to develop advanced products, growing use of radar sensors in systems specialized in early warning, situational awareness, and integrated air and missile defense, mandating the integration of radar sensors in modern vehicles, and the flexibility and precision of radar sensors.
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Segmentation & Regional Insights
The radar sensor market covered in this report is segmented –
1) By Type: Imaging Radar, Non-imaging Radar
2) By Range: Short-Range Radar Sensor, Medium-Range Radar Sensor, Long-Range Radar Sensor
3) By Application: Air Traffic Control, Remote Sensing, Ground Traffic Control, Space Navigation And Control, Other Applications
4) By End User: Automotive, Aerospace And Defense, Environment And Weather Monitoring, Industrial, Other End Users
Top 5 Major Players:
Europe was the largest region in the radar sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radar sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise of autonomous vehicles is expected to propel the growth of the radar sensor market going forward. An autonomous vehicle refers to a type of vehicle that is capable of navigating and operating without direct human input. Radar sensors enable autonomous vehicles to detect objects, vehicles, pedestrians, and obstacles in their surroundings at long ranges, providing crucial information for real-time decision-making regarding navigation, speed adjustments, and route planning. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, it is projected that around 3.5 million autonomous vehicles or self-driving cars are expected to be on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the rise of autonomous vehicles is driving the growth of the radar sensor market.
Key Industry Players
Major companies operating in the radar sensor market report are Robert Bosch GmbH, Raytheon Technologies Corporation, Lockheed Martin Corporation, Denso Corporation, ZF Friedrichshafen AG, Qualcomm Technologies, Continental AG, Northrop Grumman Corporation, Honeywell International Inc., Texas Instruments Inc., Thales Group, Aptiv Plc, L3Harris Technologies Inc., STMicroelectronics N.V, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices, Autoliv Inc, Hella KGaA Hueck & Co., Saab AB, SICK AG, Banner Engineering Corp, Socionext America Inc., Smart Microwave Sensors GmbH, Oculi Corp
The radar sensor market report table of contents includes:
1. Executive Summary
2. Radar Sensor Market Characteristics
3. Radar Sensor Market Trends And Strategies
4. Radar Sensor Market – Macro Economic Scenario
5. Global Radar Sensor Market Size and Growth
….
32. Global Radar Sensor Market Competitive Benchmarking
33. Global Radar Sensor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Radar Sensor Market
35. Radar Sensor Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Radar Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Radar Sensor Market, Segmentation By Range, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Radar Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 75: Robert Bosch GmbH Financial Performance
Table 76: Raytheon Technologies Corporation Financial Performance
Table 77: Lockheed Martin Corporation Financial Performance
Table 78: Denso Corporation Financial Performance
Table 79: ZF Friedrichshafen AG Financial Performance
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