Radar Sensor Market Analysis

Radar Sensor Market Analysis

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The non-imaging radar segment accounted for over USD 4.5 billion in market revenue in 2022 and is poised to record more than 13% CAGR through 2032. Non-imaging radar sensors are effective in measuring Plan Position Indicator (PPI) and speed, making it valuable for applications in air traffic and weather monitoring systems. These sensors excel at providing precise quantitative measurements of energy reflection from targets, relying on surface properties. The product integration in aircraft and satellites for altitude determination and topographic mapping is driving its adoption in the aerospace and geospatial industries. As per the report by ICAO, after witnessing drastic decline in passenger traffic number due to the pandemic, the aviation sector is recovering with passenger traffic increasing from 1.77 billion in 2020 to 2.28 billion in 2021. The growing aviation industry will push the demand for non-imaging radar sensor in the coming years.
 

The radar sensor market size from medium-range segment is projected to reach more that USD 30 billion by 2032, attributed to the extensive product utilization in automotive radar applications. These sensors operate within the frequency band of 76 - 77 GHz that is considered standard for the automotive industry. With an aperture angle of +-45 degrees, these sensors can efficiently detect objects up to 160 meters away. This capability makes medium-range radar sensors well-suited for front-end applications, including predictive emergency braking systems and ACC adaptive cruise control. The ACEA data indicates that over 85 million motor vehicles were produced in 2022. The increasing demand for vehicles, especially those with technologically advanced features will bolster the usage of medium-range radar sensors, adding to the industry value.
 

Asia Pacific dominated the global radar sensor market with a remuneration of more than 5 billion in 2022 and is slated to showcase a y-o-y growth rate of over 18.5% during 2023 and 2032. The regional growth is fueled by the increasing adoption of electric vehicles (EVs) in China. With China accounting for 60% of global EV sales in 2022 and witnessing an 82% increase from the previous year as per the IEA report, the demand for advanced radar sensors to support EV operation and performance is on the rise. Leading automakers and radar sensor manufacturers are actively collaborating to integrate radar sensors into EVs, further driving market growth in the region.