The global radar sensors market is expected to post a CAGR of nearly 18% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global radar sensors market 2019-2023. (Graphic: Business Wire)
Numerous countries across the globe use drones or UAVs for military and defense applications, which increases the need for radar sensors. Radar sensors are vital components in autonomous flying drones due to their ability to identify obstacles and ensure smooth navigation. Recently, Ainstein announced the launch of their new customizable radar sensors, Ultra Long-Range Airborne (ULAB-D1) and Ultra Long-Range Ground-Based (ULGB-D1) for drone applications. These radar sensors can detect objects more than 1,000 meters away and can also be used as altimeters. The growing demand for UAVs will increase the adoption of such radar sensors in drones, which in turn, will boost the global market growth during the forecast period.
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As per Technavio, the increasing adoption of sensor fusion technology, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Radar Sensors Market: Growing Adoption of Sensor Fusion Technology
The increasing adoption of sensor fusion technology will be one of the critical trends in the global radar sensors market. Sensor fusion technology in collaboration with the AI processing system collects information from various sensors and decides upon the action to be taken. The technology is being adopted in the automotive sector to improve safety. OEMs are collaborating with camera manufacturers to develop and integrate radar sensors into a single module in a vehicle. The sensor fusion technology also collects raw data and provides instructions to the control unit of the vehicle. For instance, Tram builder PK Transportnye Systemy partnered with Cognitive Technologies to develop a tram integrated with cameras and sensors to process raw data. The cameras integrated with radar sensors can recognize objects with high accuracy.
“The increasing investments in autonomous cars and the emergence of high-resolution radar imaging sensors are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Radar Sensors Market: Segmentation Analysis
This market research report segments the global radar sensors market by application (automotive, aerospace and defense, industrial, and others), product (non-imaging sensors and imaging sensors), and geographical regions (North America, Europe, APAC, South America, and MEA).
The Europe region led the market share in 2018, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the Europe region is expected to maintain its dominance over the global market. This is due to the presence of a large number of automobile manufacturers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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