Europe Radar Sensor Market size surpassed USD 2 billion in 2020 and is estimated to witness 11% CAGR from 2021 to 2027. The market growth will be driven by the rising trend toward automation, IIoT, and robots in the industrial sector. Radar sensor offers high flexibility and resolution detection capabilities in various industrial machines and robots for collision prevention and area monitoring applications.
Increasing investment by regional manufacturers to modernize their production facilities and infrastructure will add an advantage to companies operating in the radar sensor market. Also, increase in trend toward industrial automation will positively influence the market players to develop new sensing technology and gain a highly competitive edge among other players. For instance, in September 2020, Sick AG launched its new LBR SicWave radar sensors with measuring range upto 120 meters and 80 GHz radar frequency, used in various process applications in food & beverages, metal, mining, and other industries.
Europe Market, By Type
The radar altimeter segment will grow at significant CAGR through 2027 impelled by its increasing adoption in satellites and aircraft for topographic mapping and altitude determination. Radar altimeter offers high reliability and accuracy for determining various geophysical parameters, increasing its demand in spacecrafts for observation and surveillance applications of Earth atmosphere. Rising initiatives by governments and space agencies to accelerate smart solutions in space missions will accelerate the adoption for radar altimeter. For instance, in May 2020, UK Space Agency announced a funding of around USD 3 million to integrate smart solutions for monitoring of objects in the low earth orbit.
Europe Market, By Country
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France radar sensor market accounted for 14.5% revenue share in 2020 and will observe a growth rate of more than 8.5% during the forecast timeline. This market growth can be credited to the continuous development in the regional aerospace industry and increasing aircraft deliveries in other nations. For instance, in July 2020, the Government of France delivered five new Rafale fighter jets to India to upgrade its military strength.
Increasing development of new aircraft and military vehicles in the region will positively influence the companies in the market to accelerate their R&D activities and product innovation for radar sensing technologies. In October 2020, Thales developed its new airborne surveillance radar “AirMaster C” with a smaller footprint and electronically scanned array. This new radar sensor will be used by French armed forces in Airbus Helicopters H160M Guepard and will start its services in 2026.
Competitive Industry Landscape
Prominent companies operating in Europe radar sensor market are Acconeer AB, Banner Engineering Corp., Continental AG, HELLA GmbH & Co. KGaA, Infineon Technologies AG, Sick AG, MediaTek Inc., among others.
The industry players are continuously inclined toward new product innovation and research & development strategies to cater to high demand among other players. In December 2020, NXP Semiconductors announced the development of its new radar sensor solution with 77GHz transceivers and radar processors, offering 360-degree surrounding in automotive applications.