Radar Sensors Market

Global Radar Sensors Market Size (2022 to 2027)

The global market size for radar sensors is predicted to value USD 27.72 billion by 2027 from USD 18.35 billion in 2022, growing at a CAGR of 8.6% from 2022 to 2027.   

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.

MARKET DRIVERS:

• The increased need for radar sensors, particularly in aviation, aerospace, and defense, is the primary driver of the radar sensors market.
• 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. 

MARKET RESTRAINTS:

• The increase in privacy concerns is one factor significantly restraining the radar sensors market. 

REPORT COVERAGE:

The global radar sensors market has been segmented by component, range, end-use, and region.

Radar Sensors Market - By Component:

• Transmitter And Receiver Antenna
• Transmitter
• Receiver
• Others

Based on the component, the antenna segment held the majority of the share in 2021, with over 30%, 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.

Radar Sensors Market - By Range:

• Long Range
• Mid-Range
• Short Range

Based on range, the Long Range is the largest and the fastest-growing segment and accounted for around 55% in 2021. 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.

Radar Sensors Market - By End-use:

• Military and Defence
• Aviation
• Automotive
• Maritime

Based on the end-use, the military segment accounted for the largest share of the global radar sensors market in 2021, 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.

Radar Sensors Market - By Region:

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

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.

KEY MARKET PLAYERS:

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.

RECENT DEVELOPMENTS:

• 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.