Radar Sensor Market Growth Forecast to 2022: 6.94% CAGR Led by Non-Imaging Sector
The radar sensor market estimated to grow at a CAGR of 6.94% between 2016 and 2022 to reach USD 30.67 billion with aerospace & defense application to hold a major share and dominated by APAC region
Pune, India – June 9, 2016 /MarketersMedia/ —
The radar sensor market is expected to grow from USD 19.29 billion in 2015 to USD 30.67 billion by 2022, at a CAGR of 6.94% between 2016 and 2022. The growth of this market is propelled by the increasing territorial conflicts and geopolitical instabilities in regions such as Asia-Pacific, the Middle East, and the Americas and the rising demand for radar systems worldwide since military systems seek to replace their legacy systems. The market is further driven by the increasing focus on the safety, comfort, and assistance features in vehicles.
Complete report on global radar sensor market spread across 260 pages, profiling 15 companies and supported with 81 tables and 109 figures is now available at http://www.rnrmarketresearch.com/radar-sensor-market-by-type-imaging-and-non-imaging-technology-component-band-hf-vhf-and-uhf-l-s-c-and-x-ku-k-ka-v-and-w-range-short-range-mid-range-long-range-application-vertical-and-geog-st-to-2022-market-report.html .
The increasing need of many nations to upgrade their radar technology to safeguard their borders and tackle growing territorial conflicts and geopolitical instabilities are some of the major factors that are driving the growth of the radar sensor market for the aerospace & defense application. Applications for radar systems continue to expand in airborne-based, naval-based, space-based, and ground-based platforms. Other military applications such as electronic countermeasures (ECM) and electronic-warfare (EW) systems are dependent on radar systems for their successful operation. With the increased demand for defense surveillance over porous and attack-prone borders, increased spending on the defense sector by the developing countries, and increased terrorism and ongoing inter-country conflicts, the market for military radars is expanding subsequently.
Increasing military investments in APAC, along with the growing demand for radar sensors and systems in countries such as China, Japan and India, are driving the growth of the market for radar sensors. This region has become a global focal point for large investments and business expansion opportunities. Additionally, in the automobile sector, as of 2015, this region accounted for a share of more than 50% of the world‘s passenger car production. As of 2015, countries such as China, Japan, South Korea, and India were among the Top 10 largest automobile manufacturers worldwide. China ranks first (with 12,095,000 units); Japan ranks third (with 4,650,968 units); South Korea ranks fifth (with 2,321,841 units); and India ranks sixth (with 2,049,037 units) (Source: Production Statistics – OICA).
The major companies involved in the development of radar sensors include Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), HELLA KGaA Hueck & Co (Germany), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Airbus Group (Netherlands), Lockheed Martin Corporation (U.S.), Raytheon Company (U.S.), NXP Semiconductors N.V. (Netherlands), Smart Microwave Sensors GmbH (Germany), Escort Inc. (U.S.), and Omniradar BV (Netherlands) among others.
Ask for a discount before order a copy of Radar Sensor Market by Type (Imaging and Non-Imaging), Technology, Component, Band (HF, VHF, and UHF; L, S, C, and X; Ku, K, Ka, V, and W), Range (Short-Range, Mid-Range, Long-Range), Application, Vertical, and Geography – Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=608902 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (45%), Tier 2 (32%) and Tier 3 (23%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (30%), Directors (45%) and others (25%) from various key organizations operating in the radar sensor market. The primary interviews were conducted worldwide covering regions such as North America (26%), Europe (40%), APAC (22%) and RoW (12%).
On a related note, another research on Military Radar Market Global Forecast to 2020 says, he global military radars market was valued at USD 11.02 billion in 2015 and is projected to reach USD 13.04 billion by 2020, at a CAGR of 3.42% from 2015 to 2020. Ground-based radars are expected to grow fastest in the military radars market. X & KU band radars are expected to grow fastest in the military radars market. In this report, the military radars market is segmented into X & Ku band, L & S band, and other frequency band. Companies like Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Saab Group, Thales Group, Airbus Group, BAE Systems, General Dynamics, Israel Aerospace Industries Ltd. and Finmeccanica SPA have been profiled in this 162 pages research report available at http://www.rnrmarketresearch.com/military-radar-market-by-platform-ground-based-naval-airborne-space-based-band-type-x-ku-band-l-s-band-others-application-weapon-guidance-system-surveillance-geography-global-forecast-to-2020-market-report.html .
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