Published Date: 2021-07-14
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European Radar Sensors Market size is predicted to reach USD 4 billion by 2027, according to a latest forecast report by Graphical Research.
The market growth is owing to the rising government initiatives toward the deployment of smart city projects in the region. For instance, in January 2020, Innovation and Networks Executive Agency (INEA) announced to receive proposals on 12 smart city projects that emphasize on the development of public infrastructure in the European Union. The European Commission will be funding approximately USD 211.1 million on these 12 smart city development projects. The radar sensors are extensively used in urban traffic management and surveillance monitoring applications. Such initiatives will increase the integration of radar sensors into public infrastructures, fueling the market growth.
The long-range radar sensor segment held 35.5% market share in 2020 and is projected to grow at a CAGR of 12.5% over the forecast period. The long-range radar is one of the widely used radar sensors due to its massive implementation in avionics for navigation, object detection, and air-to-air warfare & combat applications. Increasing defense investments toward obtaining high-end avionics systems and aircraft by European economies will add opportunities to the segment growth. For instance, in September 2020, the Government of UK awarded a USD 378.6 million contract to defense manufacturers Leonardo S.p.A. and BAS Systems for developing next-generation radar systems. The new radar systems will be integrated into ‘Eurofighter Typhoon’ aircrafts to strengthen the UK’s Royal Air Force (RAF).
Browse detailed statistical insights from the report, “Europe Radar Sensor Market Forecast 2027 By Application (Automotive, Aerospace & Defense, Industrial, Government & Public Infrastructure), By Type (Imaging Radar {Continuous Wave (CW) Radar, Pulse Radar}, Non-Imaging Radar {Speed Gauge, Radar Altimeter}), By Range (Short-range Radar Sensor, Medium-range Radar Sensor, Long-range Radar Sensor), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1886/europe-radar-sensor-market
Germany radar sensor industry accounted for over 28.5% revenue share in 2020 and will grow at a CAGR of 16.5% from 2021 to 2027 driven by the presence of several German automotive OEMs, such as Audi, BMW AG, Daimler AG, etc., which are emphasizing on developing advanced automotive safety systems, ADAS, and self-driving cars. According to Germany Trade and Invest (GTAI) 2020-2021 report, Germany accounted for 60% R&D growth in the European automotive sector in 2019. The radar sensors are extensively incorporated into various ADAS systems such as automatic parking assistance, blind-spot detection system, and adaptive cruise control. The increasing research & development initiatives by German automotive OEMs will add new growth opportunities to radar sensor manufacturers in the region.
The European radar sensors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Europe Market, By Type
Europe Market, By Range
Europe Market, By Application
The above information has been provided for the following countries:
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