Fatpos Global has released a report titled “Radar sensor market - Analysis of Market Size, Share & Trends for 2014 – 2021 and Forecasts to 2031” which is anticipated to reach USD 59.1 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 17.2% between 2021 and 2031. According to the report, the major factor contributing to the growth of the RADAR sensors market are rising focus on safety and security needs in an automotive application, unlocking the wideband 5G and millimeter wave-based RF system capabilities, and the increasing requirement for border security systems. Now technology become more advanced and focuses on safety and security requirements in different applications such as vehicle collision assistance, industrial and public safety, and robotic assistance which, in turn, is expected to increase the demand over the coming years.
The market report on the global Radar sensor market includes in-depth insights as:
“One of the market's primary drivers is the increasing use of surveillance systems in military and rising security concerns across the world will influence the radar sensor growth opportunity. Governments from different nations are enhancing their military power by integrating new and monitoring systems security. These factors hamper the growth of the market opportunity for radar sensors in the aerospace and defense sector. Factors such as increasing demand for radar systems in automotive and defense industries, and emerging applications of radar in remote sensing expected to continue pushing sales in the forthcoming years.”, said a lead analyst at Fatpos Global.
A radio detection and ranging system (RADAR) sensor is an electronic device that is used to detect the position and velocity of an object located at a distance such as an aircraft, ship, vehicle, or motorbike. Radar sensors detect wave emissions with the help of a superheterodyne receiver. Radar sensors are products that are used to detect motion, distance and range of arrival, speed, and direction of movement. RADAR sensors are not restricted by adverse weather conditions such as storms, dust, and fog.
The global Radar sensor market is classified based on Type into Imaging and Non-Imaging. During the forecast period, the non-Imaging segment is expected to grow at the fastest CAGR. The non-imaging radar sensor market is being fueled by the increasing use of non-imaging radars in adaptive cruise control (ACC), blind-spot detection, lane change assist, and stop & go functionality.
Key Players in the Market
Some of the key players operating in the global Radar sensor market are Robert Bosch, Continental, Infineon Technologies, Hella KGaA Hueck, Autoliv, Smart Microwave Sensors, Omniradar B.V., Lockheed Martin, Denso, NXP Semiconductors, Honeywell International Inc., L3harris Technologies Inc., and Other Prominent Players.
Get Valuable Insights into Global Radar Sensor Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global Radar sensor market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into growth that is witnessed in the market. The global Radar sensor market is classified based on Type into Imaging and Non-Imaging. Based on the Application global Radar sensor market is fragmented into Air Traffic Control, Remote Sensing, Ground Traffic Control, Space Navigation and Control, and Others. The global Radar sensor market is classified based on End Users into Automotive, Aerospace and Defense, Environment and Weather Monitoring, Industrial, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East, and Africa.
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