Global Radar Sensor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Radar System (Bistatic Radar, Continuous Wave Radar, Instrumentation Radar, Weather Radar, Others), By Application (Automotive, Aerospace & Defense, Security & Surveillance, Industrial, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Oct 2022 Report Code: KSI061611537 Pages: 136

The global radar sensor market is anticipated to grow at a CAGR of 16.04% to attain a market size of US$21.475 billion by 2027, up from US$7.579 billion in 2020. The increasing terrorist attacks at the global level and the rising geopolitical issues are putting pressure on governments around the globe to invest heavily in the military and defense sectors. As per the Stockholm International Peace Research Institute (SIPRI), total global defense expenditure was approximately USD 2.1 trillion in 2021. Also, the military expenditure of the United States grew from USD 715 billion to USD 705 billion in 2022 to keep pace with the technological advancements in the defense sector. The increasing number of national security threats is paving the way for the creation of high demand for radar sensors, fueling the market growth in the forecast period. Hence, this, in turn, is significantly driving the demand for radar sensors in the United States and in other parts of the world.

The worldwide emergence of autonomous vehicles provides a great opportunity for the growth of the radar sensors market in the coming years. This is because of the fact that the ADAS (Advanced Driver Assistance System) does require many radar sensors for the following applications, which include blind-spot detection, parking assistance, and emergency braking among other applications, thus making an important contribution to the overall functioning of autonomous driving. Auto manufacturers are continuing to invest in the development of autonomous vehicles to reduce road accidents and improve traffic flow. Traffic delays bring in huge traffic congestion costs regarding fuel loss and productivity. As per the Texas Transportation Institute and UK government estimates, the cost of traffic congestion ranges from USD119 billion per year and 3.9 billion gallons of fuel wastage to £22 billion per year in the United Kingdom by the end of 2025.

However, the radar technology is not good for mapping fine details at large distances. Hence, this is leading to investments in alternative technology known as LIDAR. The LIDAR technology enables measuring distances with high accuracy while offering better resolution than radar, thus making it better at detecting smaller objects. This will negatively impact the growth of the radar sensor market to some extent. Zala, a Russian company, is using LIDAR in its drones to be used in the country’s military industry.

By Radar Application, the market is segmented as smart cities, smart factories, biosensing, defense, and others. The defense segment is accounted to hold a significant market share on account of the rising defense budget across the globe and investments in the adoption of advanced technologies.

Geographically, the global radar sensor market is segmented into North America, South America, Europe, the Middle East, Africa, and Asia-Pacific. North America accounted for a major market share in the forecast period owing to the early adoption of newer technologies coupled with high investments in R&D across various industries. The high military and defense budgets of countries like the U.S. and Canada contribute to the dominance of the regional market in the global radar sensor market. Europe also holds a significant share on account of high investments in the aerospace and defense sector and autonomous vehicles. As of 2016 European Commission information, The European Investment Bank signed an agreement consisting of providing a EUR28 million loan from the European Investment Bank (EIB) to Danish aerospace manufacturer Terma in order to carry out R&D and innovation projects for the development of high-tech products for various civilian space applications, including radar technology for coastal, harbour, airport and air traffic control. The APAC regional market for radar sensors is projected to witness a high CAGR during the forecast period. This fastest regional market growth is majorly attributed to factors such as the rising production of autonomous cars in China, increasing government spending in APAC countries to strengthen surveillance capabilities and the rising number of installations of renewable energy projects in the region.

The growing airport surveillance radar industry, with the manufacturing of new aircraft and an increasing number of air passengers carried, is providing an opportunity for the market to thrive in the forecast period.

With significant investments in airport infrastructure, the market is expected to augment in the forecast period. According to the Airports Council International, global air passenger traffic is projected to reach a size of around 20 billion by the end of 2039. (source: Airports Council International). This is further poised to create a need for investments in airport infrastructure for new and improved airports in order to meet the growing capacity, in addition to evolving passenger expectations as well, leading to smooth operations. Furthermore, the increasing investment in airport infrastructure is supported by the increasing middle-class population, increasing consumer spending on services, evolving business airline models to bring more value to passengers, and keeping pace with the evolving air travel industry, especially in the emerging economies of the world. This has further resulted in airport privatization, further contributing to the community and national economic productivity. Additionally, the framing of government policies for supporting aviation infrastructure development is further strengthening the modernization of airports and augmenting the airport service quality for people and cargo. For example, the Indian aviation industry is projected to witness an investment of around USD 4.99 billion for the next four years. The GOI is planning to invest around USD 1.83 billion in the development of airport infrastructure in addition to aviation navigation services by 2026 (source: Ministry of Commerce & Industry, Government of India).

According to the EU, a loan agreement of 200 million euros was signed in December 2018 between the European Investment Bank (EIB), and Budapest Airport for the expansion and upgrading of Hungary’s main international airport.

The modernization project of the Los Angeles International Airport is a $14 billion (approximately) modernization project, expected completion date is 2023. Such initiatives in the future may also provide an opportunity for the market to grow during the forecast period.

The United States Department of Transportation announced in September 2018 the allocation of grants of approximately USD616.9 million for airport infrastructure projects as part of the Airport Improvement Programme (AIP) of the Federal Aviation Administration (FAA) throughout the United States. Furthermore, USD205 million in the form of supplemental funding for the AIP grants, in addition to USD3.31 billion, which has already been allocated to the AIP grant, will be allocated to fund grants to around 37 airports in around 34 states (source: U.S. Department of Transportation).

Key developments

  • June 2022: Toyota Connected North America innovated on occupant detection technology under the concept of ‘Cabin Awareness’ by using a 4D imaging radar sensors to detect occupants like pets and babies even if they are left behind.
  • September 2021: Continental, a company that deals with ADAS solutions successfully developed affordable ADAS solutions that can be integrated into entry-level and mid-level passenger cars and is majorly directed at emerging markets.
  • March 2020: Hyundai Mobis developed an in-cabin radar system to detect the presence of anyone in the rear seats which would majorly provide a solution for babies being left in cars.

COVID-19 Impact on Radar Sensor Market

The COVID-19 outbreak has impacted the radar sensor market negatively due to the decreasing demand from the automotive and aerospace sectors. The reduction in demand for detectors can be attributed to the economic slowdown of several countries across the globe. This economic slowdown especially during the initial phases caused the demand to fall very short for the automotive due to people having low disposable incomes. For instance, in China, sales fell by 71% in February and by April, the US and Europe experienced a plunge of 47% and 80% respectively. This automatically decreased the demand for these sensors, leading to declining in the market.

Global Radar Sensor Market Scope:

 

Report Metric Details
 Market Size Value in 2020  US$7.579 billion
 Market Size Value in 2027  US$21.475 billion
 Growth Rate  CAGR of 16.04% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Type of Radar System, Application, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered Geolux d.o.o., Baumer Holding AG, ASTYX GmbH, ZF Friedrichshafen AG, Hans Turck GmbH & Co. KG, HENSOLDT Group, smart microwave sensors GmbH, InnoSenT GmbH, Banner Engineering Corp., SICK AG
 Customization Scope  Free report customization with purchase

 

Market Segmentation:

  • By Type of Radar System
    • Bistatic Radar
    • Continuous Wave Radar
    • Instrumentation Radar
    • Weather Radar
    • Others
  • By Application
    • Automotive
    • Aerospace & Defense
    • Security & Surveillance
    • Industrial
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the radar sensor market size by 2027?
A1. The global radar sensor market is anticipated to reach a market size of US$21.475 billion by 2027.


Q2. What are the growth prospects for the radar sensor market?
A2. The radar sensor market is anticipated to grow at a CAGR of 16.04% during the forecast period.


Q3. What is the size of the global radar sensor market?
A3. Radar Sensor Market was valued at US$7.579 billion in 2020.


Q4. Which region holds the largest market share in the radar sensor market?
A4. North America accounted for a major share of the radar sensor market owing to the early adoption of newer technologies coupled with high investments in R&D across various industries.


Q5. What factors are anticipated to drive the radar sensor market growth?
A5. The increasing number of national security threats is paving a way for the creation of high demand for radar sensors, fueling market growth.


1. Introduction

1.1. Market Overview

1.2. COVID-19 Impact

1.3. Market Definition

1.4. Market Segmentation

 

2. Research Methodology

2.1. Research Data

2.2. Assumptions

 

3. Executive Summary

3.1. Research Highlights

 

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

 

5. Global Radar Sensor Market Analysis, by Type of Radar System

5.1. Introduction

5.2. Bistatic Radar

5.3. Continuous Wave Radar

5.4. Instrumentation Radar

5.5. Weather Radar

5.6. Others

 

6. Global Radar Sensor Market Analysis, by Application

6.1. Introduction

6.2. Automotive

6.3. Aerospace & Defense

6.4. Security & Surveillance

6.5. Industrial

6.6. Others

 

7. Global Radar Sensor Market Analysis, by Geography

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. UK

7.4.2. Germany

7.4.3. France

7.4.4. Others

7.5. Middle East and Africa

7.5.1. UAE

7.5.2. Israel

7.5.3. Saudi Arabia

7.5.4. Others

7.6. Asia Pacific

7.6.1. Japan

7.6.2. China

7.6.3. India

7.6.4. South Korea

7.6.5. Thailand

7.6.6. Taiwan

7.6.7. Indonesia 

7.6.8. Others

 

8. Competitive Environment and Analysis

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

 

9. Company Profiles 

9.1. Geolux d.o.o.

9.2. Baumer Holding AG

9.3. ASTYX GmbH

9.4. ZF Friedrichshafen AG

9.5. Hans Turck GmbH & Co. KG

9.6. HENSOLDT Group

9.7. smart microwave sensors GmbH

9.8. InnoSenT GmbH

9.9. Banner Engineering Corp.

9.10. SICK AG

Geolux d.o.o.

Baumer Holding AG

ASTYX GmbH

ZF Friedrichshafen AG

Hans Turck GmbH & Co. KG

HENSOLDT Group

smart microwave sensors GmbH

InnoSenT GmbH

Banner Engineering Corp.

SICK AG

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