Radar Sensor Market - Advanced Technologies & Growth Opportunities In Global Industry By 2024

A radar sensor is an electronic device that detects the velocity and position of an object located at a distance such as an aircraft, ship, vehicle, or motor bike. Radar sensors detect electromagnetic emissions with the help of a superheterodyne receiver. It then notifies the person in the vehicle when the transmission is identified. At present, the GPS technology is embedded into these sensors which facilitates the storage of locations prompted by the sensor when the user reaches their destination.

The global market for radar sensors is segmented on the basis of type into the following categories: imaging radar (primary) and non-imaging radar (secondary).Imaging radar is further sub-divided into the continuous wave (CW) radar and pulse radar varieties and non-imaging radar into speed gauge and radar altimeter types. Non-imaging radar accounted for a major share in the market in 2015 owing to its extensive usage in traffic management & monitoring, spacecraft, aircraft, and the automotive sector. In terms of band, the global market is segregated into HF, VHF, & UHF bands; L, S, C, & X bands; and Ku, K, Ka, V, & W bands. Ku, K, Ka, V, & W bands are estimated to exhibit a rapid growth rate over the forecast period owing to their wide usage in the automotive sector for collision mitigation (CM), lane-change assist (LCA), blind spot detection (BSD), and adaptive cruise control (ACC) applications.

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Based on range, the global market for radar sensors is segregated into the short-range, long-range, and mid-range groups, among which long-range radar sensors held the dominant market share in 2015 and are projected to retain this position till 2024 owing to their employment in weapon control systems, air mapping systems, marine radar systems, and surveillance systems. Applications of radar sensors include automotive, aerospace & defense, industrial, security & surveillance, traffic management & monitoring, weather & environmental monitoring, and others, among which the automotive division is anticipated to expand substantially on account of the growing awareness around safety products and subsequent rising number of radar sensors in automobiles.

Major drivers of the global radar sensors market include geopolitical instabilities, increasing territorial conflicts in various regions, rising demand from the defense sector with militaries looking forward to replace legacy systems, and the growing focus on comfort, safety, and assistance features in vehicles. High development costs, however are a major restraint hindering the global radar sensor market. Emergence of driverless cars is touted to be an excellent opportunity for radar sensors globally in the near future. In addition, augmented spending in the defense sector especially in developing countries is expected to trigger the overall expansion of this market.

Geographically, the global radar sensor market is distributed over North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the key share in this market in 2015 and is predicted to grow steadily over the forecast period, whereas Asia Pacific is likely to display a speedy rate of development owing to increased government spending to strengthen weapon guidance and surveillance capabilities in countries such as India, China, and Japan.

Key players of the global radar sensor market include NXP Semiconductors N.V., Delphi Automotive PLC, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Robert Bosch GmbH, Airbus Group, Infineon Technologies AG, Lockheed Martin Corporation, Autoliv Inc, and Raytheon Company.

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