Press release
Radar Sensors Market Size, Share, Growth Factor And Competitive Analysis By Leading Key Players Like Robert Bosch GmbH, Lockheed Martin, Raytheon, Saab, Northrop Grumman, Delphi Automotive, Hitachi, Continental AG, ZF Friedrichshafen AG Forecast 2023
The global radar sensors market is expected to grow at USD ~19 Billion by 2023, at ~20% of CAGR between 2017 and 2023
Radar Sensors Market Key Players:
The prominent players in the global radar sensors market are – Robert Bosch GmbH (Germany), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), Saab AB (Sweden), Northrop Grumman Corporation (U.S.) Delphi Automotive LLP (U.K), Hitachi, Ltd. (Japan), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Omniradar BV (Netherlands), and Airbus Group (Netherlands) among others.
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Market Synopsis of Global Radar Sensors Market:
The prominent companies such as Raytheon Company (US), Northrop Grumman Corporation (US) Delphi Automotive LLP (UK), Hitachi, Ltd. (Japan), Robert Bosch GmbH (Germany), are the largest contributors in the manufacturing of radar sensors. In 2017, Denso Corporation has developed 24-GHz band sub-millimeter-wave radar sensor and side radar sensors. It is used for enhancing vehicle safety systems. It enables the driver to identify and navigate other vehicles with the help of sensing direction and range of the sub millimeter-wave radar sensor.
The radar sensor is growing exponentially due to the uses of frequency modulated continuous wave which enables to detect different kinds of targets. These targets can either be moving or stationary such as cars, trains, trucks and others. The radar sensors are ideal for collision detection, level gauging, anti-collision, surveillance and security. This technology is widely being used in North America region, for weather monitoring, security and surveillance and other purposes.
The global radar sensors market is bifurcated into type, range, applications and region. The type includes radar detector detectors, radar scrambling and others. The range includes short-range radar, mid-range radar, long-range radar and others. The applications include automotive, traffic monitoring, aerospace and defense, industrial, security and surveillance, weather monitoring and others. The region includes North America, Europe, Asia Pacific and rest of the world.
The global radar sensors market is expected to grow at USD ~19 Billion by 2023, at ~20% of CAGR between 2017 and 2023.
Market Drivers and Restraints:
Some of the major factors influencing the expansion of the global radar sensors market in the automotive sector are increased awareness for passenger and vehicle safety, inclination towards automated vehicles, improving road safety regulations, the inclusion of advanced technological features in all types of automobiles and others. Geopolitical instabilities and territorial conflicts are leading to the strengthening of defense sector in various developing countries. Hence, incorporation of advanced technologies in defense strategies is acting as a driving force for the global radar sensors market. Embedding of GPS technology in these sensors has facilitated the storage of location data which is increasing the demand for radar sensors and spurring the global radar sensors market. Increasing production of automobiles and application of radar sensors in personal as well as commercial modes of transport are also driving the global radar sensors market. However, the high development cost of the radar sensors is likely to hamper the growth of the global radar sensors market.
Intended Audience
Sensor Manufacturers
Technology Providers
Original Equipment Manufacturers
Equipment distributors and suppliers
Research and development companies
Market research and consulting firms
Technology standards organizations
Technology investors
System Integrators
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