Scienza e Tecnologia
RADAR Sensor Market to Reach $33.13 Bn, Globally, by 2030 at 13.1% CAGR: AMR
Surge in demand for radar systems in automotive and defense industries, increase in territorial battles across the globe, and rise in use of radar in remote sensing applications drive the growth of the global radar sensor market. However, high cost of radar systems hinders the market. On the contrary, high investment from developed countries in the military sector is expected to create lucrative opportunities in the future.
By type, the non-imaging segment is projected to register the highest CAGR of 14.2% during the forecast period, due to use of non-imaging radar to measure speed and plan position indicators to observe weather and air traffic. However, the imaging segment held the largest share in 2020, accounting for more than three-fifths of the global radar sensor market, owing to use of imaging radar in applications such as surface topography & coastal change, land use monitoring, ice patrol, and environmental monitoring.
By application, the air traffic control segment dominated the market in 2020 in terms of revenue, contributing to more than one-fourth of the global radar sensor market, due to increase in number of airports, rise in air travel in developing countries, and increase in need for efficient airspace management system. However, the ground traffic control segment is anticipated to register the highest CAGR of 14.50% during the forecast period, owing to increase in need for airports to integrate advanced taxing guidance systems based on existing international standards and integrated technologies.
By region, the market across North America held the in 2020, accounting for nearly one-third of the market, due to increase in road accident victims, rapid increase in urbanization, and increase in deployment of radar systems in luxury vehicles. However, the global radar sensor market across Asia-Pacific is expected to manifest the highest CAGR of 15.0% from 2021 to 2030, due to increase in the defense budget of India and China and rise in demand for radar systems.
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