Press Release
Press Release
The increased adoption of IoT devices along with the rapid technological advancements are driving the global radar sensors industry. In addition, the rising implementation of short-range radar sensors in smartphones and automobiles is expected to contribute to the market growth. Moreover, the radar sensors find heightened application in the military and security operations, as they help in accurately locating any potential threats to mitigate the risk of any damage or casualty. These radar sensors provide accurate surveillance facilities with multifaceted deployment potential, such as in the aviation, ground, and maritime surveillance units. Furthermore, radar sensors are also used in the industrial and logistics sector to enhance functional efficiency.
The leading market players are increasingly developing efficient radar sensor solutions with diverse applicability by implementing advanced technologies. This is expected to significantly bolster the industry growth in the forecast period. For example, in December 2020, NXP Semiconductors N.V. (NASDAQ: NXPI) announced the launch of their complete suite of radar solutions that helps to surround a vehicle from all angles to provide a 360-degree safety potential. These are scalable solutions for NCAP corner and front application, along with 4D imaging that helps strengthen the radar’s measuring range and speed to incorporate the accurate measurement of direction, angle, and elevation. Furthermore, in June 2019, Honeywell International Inc (NASDAQ: HON), a multinational conglomerate, announced the agreement with an unnamed air taxi developer to supply multiple units of its new IntuVue RDR-84K Band Radar System to be used in the urban air mobility (UAM) prototype aircraft. This radar system offers automated take-off and landing potential, along with accurate detection of any nearby obstacles. In addition, the lightweight structure and reduced hardware helps decrease the cost of maintenance while reducing fuel costs. Such developments are expected to positively impact the growth of the radar sensors industry.
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The major players in the global radar sensors market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Hella KGaA Heuck & Co., and Infineon Technologies AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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