Pune, India, July 07, 2021 (GLOBE NEWSWIRE) --
The global radar sensors market size is anticipated to grow substantially during the forecast period. Radar sensors are gaining popularity in industrial automation and robotics and are widely used in robots to monitor important processes of a factory and avoid collisions on the floor.
There has been a sharp hike in the amount of investment made by many companies to make their industrial processes as advanced as possible. They are launching some interesting technologies to improve the overall performance and quality of their products and services. All this is being done to not just gain a competitive edge over their contemporaries but to expand their customer base as well.
The key trends that will keep radar sensors market afloat are discussed below:
Radar altimeters will gain momentum in Europe market:
Europe radar sensors market size will expand to $4 billion by 2027. Radar altimeter segment will witness steady progress in the coming years because of increase in their use in aircrafts and satellites. They will be majorly required for topographic mapping and determining the altitude of a particular place. The components are quite reliable and accurate in understanding the geophysical parameters and are even used in spacecrafts to observe the Earth’s atmosphere.
Governments and space stations across Europe are introducing favorable initiatives to bring in smart and advanced solutions to achieve successful space missions. This will raise the demand for radar altimeters in the region. The UK Space Agency, in May 2020, declared that it would provide financial assistance worth $3 million to use smart solutions in spacecrafts to monitor objects present in Earth’s lower orbit.
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France deploys radar sensors in military vehicles:
France radar sensors market will grow at 8.5% CAGR through 2027, thanks to the consistent advancements taking place in the aerospace industry in Europe. The nation has increased its delivery of special aircrafts to other nations, thereby amplifying the demand for radar sensors. In July 2020, the French government delivered five new Rafale fighter jets to India to increase the latter’s military power.
Military vehicles and other special aircrafts are being developed, resulting in the increase of research and development activities in many companies that are engaged in manufacturing these vehicles. This will ultimately lead to the creation of innovative technologies to improve the performance of radar sensors.
Radar sensors integration across North American public areas:
North America radar sensors market size is anticipated to become worth $7.5 billion by 2027. The sensors will witness strong demand among end-users because of the rising need to have strong surveillance systems in place at airports, power grid security systems and prison perimeter surveillance systems. These sensors can be widely used in intrusion detectors to sense unauthorized entry by a potential criminal.
The crime rates in the region are increasing and so is the need to have better security and surveillance systems. That is why these sensors are useful as they can detect and track certain objects from a long distance. The growing concern for child safety prompted IEE to launch its own interior radar sensor named VitaSense solution that makes unattended child detection (UCD) in vehicles a lot easier. It detects the presence of a newborn baby through its movements and prevents hot car accidents with the help of surveillance assistance.
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Long-range radar sensors application grows in North America:
North America long-range radar sensors will register 12% CAGR through 2027. One of the major reasons for this is the growing use of these sensors in the aviation and defense industries to analyze the real-time situation on ground, air and sea levels. They are quite popular for various purposes like ground surveillance, moving target indication, air traffic and missile control. They provide critical information about unknown locations as well which helps the officials take informed decisions. The growing concern for national security will foster the demand for long-range sensors.
Canada to increase its space activities:
Canada radar sensors market is expected to grow at 18% CAGR through 2027 because of rise in initiatives by the government to encourage the development of its space industry. Radar sensors will find high application in satellites that will be used for various purposes like surveillance of Earth’s atmosphere along with its land and sea.
In June 2019, the nation’s government launched a constellation mission consisting of three spacecrafts called RADARSAT that has radar satellites. The authorities invested a huge sum of money in radar sensors which will play a vital role in increasing the demand for radar altimeter, imaging and non-imaging sensors.
Military expenditure rises in Asia Pacific region:
Asia Pacific radar sensors market size will become worth nearly $13 billion by 2027. One of the major reasons for this is the rise in government expenditure across the region in the aerospace & defense industries. These investments will ensure that new and advanced technologies are brought in to increase the regional defense power. It has raised the demand for radar sensors as well because they help missile crafts and other defense machinery detect potential targets easily and help them get critical information about the same.
The Japanese government announced a budget of $51.7 billion for its defense sector in December 2020. This sum will be used to conduct various research and development activities to make their missile systems and radar sensors better and add new fighter jets as well. This will keep them prepared for any attack from North Korea or China.
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Imaging radar sensors for Asia Pacific automotive sector:
APAC imaging radar sensors share is expected to register 20% CAGR through 2027. One of the main reasons for this is the rising adoption of autonomous driving technologies. These sensors use two main principles like time of flight and echolocations which will improve their ability to detect unknown objects, thereby improving the vehicle’s performance under harsh weather conditions like heavy fog, rain and darkness. The rise in use of 4D imaging sensors will further promote the development of market in APAC region.
China begins automating manufacturing capabilities:
China radar sensors market will expand at 20% CAGR over 2021-2027. This is because of high usage of robotics and automation technologies in its manufacturing sector. In 2019 alone, the country installed nearly 140,000 industrial robots; this figure accounted for 37.6% of total global sale of robots. These AI-backed machines have radar sensors built in them to help measure the velocity, distance and movement of certain objects, thereby increasing the production of these sensors.
Radar sensors are gaining a lot of importance among several industries across the world. They help in overcoming national security issues and even act as a catalyst in automating manufacturing processes. Well-known companies like Robert Bosch GmbH, Texas Instruments Incorporated, Denso Corporation, Sick AG, Acconeer AB, MediaTek Inc. and Infineon Technologies AG are engaging in partnerships with other firms across the world to introduce high-end technologies and enhancing the performance of radar sensors.
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