DUBLIN--(BUSINESS WIRE)--The "Global Radar Sensor Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global radar sensor market is anticipated to grow aa CAGR of 15.53% in order to attain a market size of US$17.688 billion by 2025, from US$7.435 billion in 2019.
The increasing terrorist attacks at the global level and the rising geopolitical issues are putting pressure on the governments around the globe for investing heavily in the military and defense sector. As per the Stockholm International Peace Research Institute (SIPRI), total global defense expenditure was approximately US$1.74 trillion in 2017. Also, the military expenditure of the United States grew from USD605,803 million to USD648,798.3 million in 2018 for keeping pace with the technological advancements in the defense sector.
- 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
The increasing number of national security threats is paving a 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 the 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 Systems) 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 for reducing road accidents and hence improving the 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 allows 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 sensors market to some extent. Zala, a Russian company is using LIDAR in its drones to be used in the country's military industry.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
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
5.2. Bistatic Radar
5.3. Continuous Wave Radar
5.4. Instrumentation Radar
5.5. Weather Radar
6. Global Radar Sensor Market Analysis, by Application
6.3. Aerospace & Defense
6.4. Security & Surveillance
7. Global Radar Sensor Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
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
For more information about this report visit https://www.researchandmarkets.com/r/p1g17i