Global Market in Imaging Radars

The global imaging radars market is valued at USD 976 million in the year 2020. It is expected to grow at the CAGR of 6.3% within the forecasted time horizon of 2020-2025 because of rising demand for IoT and smart devices, increasing usage of surveillance systems in military units, governmental initiatives to mandate the integration of safety systems and growing global security concerns

However, issue of the electronic warfare and high cost of development might restrain the growth and development of this global imaging radars market. Its market value will reach USD 1,324.69 million by the end of the year 2025.

Definition / Scope
Market Overview
Market Risks
Top Market Opportunities
Market Drivers
Market Restraints
Industry Challenges
Technology Trends
Pricing Trends
Regulatory Trends
Market Size and Forecast
Market Outlook
Technology Roadmap
Distribution Chain Analysis
Competitive Factors
Key Market Players
Strategic Conclusion
References
Appendix

Definition / Scope

Radar is the radio waves-based detection system applied to determine distance, angle and velocity of objects. Here, imaging radar is concerned with the application of radar to create 2D, 3D and 4D imaging through the illumination of the area on the ground. It uses the antenna to take a picture at radio wavelengths and digital computer storage to record the images. It can be either millimeter-wave imaging radar or laser imaging radar.

By product type, the global market in imaging radar is comprised of Millimeter-wave Imaging Radar and Laser Imaging Radar. Short range radar, mid-range radar and long-range radar.

Based on the type of application, the global market in imaging radars consists of automotive, aerospace & defense, industrial, security and surveillance, traffic monitoring and management, and others.

Market Overview

The total market size of the global imaging radars market is valued at USD 976 million in the year 2020 and is expected to reach USD 1,037.48 million in the year 2020. Its market value is expected to grow at a CAGR of 6.3 % within the forecasted time horizon of 2020-2025. Its market value is expected to reach USD 1,324.69 million by the end of the year 2025.

Based on geography, the North American region is leading the global market with a market share of almost 45% of the total global imaging radars market. The market size of this region is valued at USD 439.2 million in the year 2020.

Based on type of product, the short-range radars segment is leading the market with a market share of almost 56% of the total global imaging radars market. The market size of this segment is valued at USD 546.56 million in the year 2020.

Based on the type of application, the aerospace & defense segment is leading the market with a market share of almost 37.5% of the total global imaging radars market. The market size of this segment is valued at USD 366 million. in the year 2020.

Rising demand for IoT and smart devices, increasing usage of surveillance systems in military units, governmental initiatives to mandate the integration of safety systems and growing global security concerns are the factors responsible for the growth and development of the global imaging radars market. However, issue of the electronic warfare and high cost of development might restrain the growth and development of this global imaging radars market.

The key market players engaged in the operation of this global imaging radars market are Continental, Hella, Denso, Lockheed Martin, Raytheon Company, ZF Friedrichshafen, Veoneer, Aptiv, and Vayyar.

Market Risks

Issue of the electronic warfare

At present, the electromagnetic jamming of radars and noise interruption is one of the burning issues in the sector of the imaging radars. This issue has influenced the functions of the imaging radars and creates the false target generation functions, noise jamming, and decoys. As a result, the effectiveness and surveillance system of the radars are degraded due to electromagnetic noise interruptions. This issue of the jamming and interruption is creating the difficulty in the surveillance process in the application sector of the global imaging radars market such as military sector. The issue of the electronic warfare might restrain the growth and development of the global imaging radars market.

Top Market Opportunities

The opportunities creating the favorable environment for the growth and development of the global imaging radars market are proliferation of 5G activities, increasing demand for internet of things and smart devices, adoption rate of wearables in health care, rising development of the smart cities and driverless vehicles.

The major opportunities for the growth and development of the global imaging radars are discussed as follows:

Increasing demand for IoT and smart devices

Globally, the adoption of the internet of things and smart devices is in rising trend. Here, the global average spending of the enterprise IoT has increased by almost 23.5% and is expected to increase up to 24% by the end of the year 2021. The market size of the global IoT devices market is expected to reach USD 159.8 billion by the end of the year 2021.

According to the National Cybersecurity Center of excellence, the connected devices has reached almost 20 billion in the year 2020, increase from 6.4 billion connected devices in the year 2019. Thus, the increasing demand for the adoption of the internet of things and smart devices is creating a significant opportunity for the growth and development of the global imaging radars market.

Increasing usage of surveillance systems in military units

Globally, the governmental agencies are increasing their focus towards the use of the radar-based surveillance systems and their spending of the government is increasing in the military sector. For instance, the government of China has developed the J-31 prototype stealth fighter planes to improve the radar systems in the country. Similarly, the government of the India is also upgrading the land radar surveillance technology.

The defense market in the Middle East region is expected to rise by almost fourfold during the forecasted time horizon. Along with this, the adoption of the unmanned automated vehicles is also increasing to secure the borders and counter the efforts of the terrorist groups. The rising focus and adoption on the surveillance systems in the military sector is creating a significant opportunity for the growth and development of the global imaging radars market.

Market Drivers

Rising governmental initiatives to mandate the integration of safety systems

The governmental authorities are taking initiatives to develop the mandatory system for the integration of the safety systems in the automobile sector with a view to avoid the accidents and injuries. According to the National Highway Traffic Safety Administration, almost 99% of the vehicle manufacturers are expected to integrate the automated emergency systems in their coming vehicles by the year 2022 in the context of the United States.

The key market players engaged in the automobile sector are also focused towards the use of the radar-based control systems. For example, BMW Motorrad has revealed that it will introduce radar-guided adaptive cruise control systems for the motorcycles. Similarly, the corner radar is implemented for 360-degree surveillance of car supported by short and mid radars of 24 GHz. Thus, the mandatory initiatives to integrate the safety systems in automobile sector is driving the growth and development of the global imaging radars market as automobile is one of the potent application sectors of this market.

Growing security concerns across the globe

Globally, the issues of the security concerns and intra-border disputes are increasing. The major global security concerns are global terrorism, overseas conflicts, organized crime, cyberattacks, civil unrest, governmental instability, etc.

Because of this, the different governmental agencies are adopting the high-tech technologies to deal with the security concerns and maintain the peace across the country. For instance, the Slovak government has announced to procure 17 radar systems from Israel government industries to enhance its military capabilities in January 2021. Here, the integration of new imaging radar-based systems in the air defense and other defense units with view to track and intercept the airborne and other targets is driving the growth and development of the global imaging radars market.

Market Restraints

High initial and development costs

The cost for the development of the imaging radar is quite high and depends on the type of radars, features, and adoption of advanced technological systems. For instance, the price of the RADARSAT fine beam frame is about USD 3000 for 50 * 50 km frame. Similarly, the cost of the mid-range radar detectors ranges from almost USD 150 to USD 350 per unit. The high initial and development cost of the imaging radars systems and its associated products might restrain the growth and development of the global imaging radars market.

Industry Challenges

Specific legal issue for the use of radar technologies

In the application of the imaging radar, some of the countries have developed the legislations and regulations which forbids the use of the radar’s technologies such as radar detectors. For instance, the government of the UK has developed the Wireless Telegraphy Act which bans the use of the radar detectors. Similarly, the government of United States has also developed Communication Act which supports the bans of the radar detector.

The use of the radar detector is illegal in most of the parts of Australia, UAE, Switzerland, North Korea, India, etc. It is quite challenging for the key market players engaged in the global imaging radars market to deal with the implementation of these specific regulations regarding the use of the radar detectors.

Technology Trends

Adoption of new and advanced technologies is creating a favorable environment for the growth and development of the global imaging radars market. Some of the key technological trends in this market are discussed as follows:

Synthetic Aperture Radar: This is the active sensor-based technique that uses the active data collection system to produce the fine-resolution images in two-dimensions from the resolution-limited radar system.

Inverse synthetic Aperture Radar Imaging: This radar technique uses the movement of the target to create the two-dimensional high-resolution image of a target through the use of the stationary radar.

Advanced Synthetic Aperture Radar System: It is the new generation system based on multimode real-time high-resolution system with all weather, day-night and long-range mapping capacities.

Monopulse Radar 3-D imaging: It utilizes the inverse synthetic aperture radar imaging to create 1-D range image, Monopulse angle measurement and separate scatters in the doppler domain.

Pricing Trends

The price of the products of this global imaging radars market depends upon the type of products, features, application and type of technology. The price of the imaging radar technologies differs in according to their functionality and range of imaging.

For instance, the cost of the mid-range radar detectors ranges from almost USD 150 to USD 350 per unit while the cost of the radar detectors with GPS technology and software upgrades ranges from USD 400 to USD 650 per unit. Here, the price of the 50 * 50 km RADARSAT fine beam frame is about USD 3000 per unit.

Regulatory Trends

Some of the regulations directly or indirectly related to the global imaging radars market are discussed as follows:

Restrictions on remote sensing sat: The commerce department of the United States has developed the new rule related to the use of the remote sensing devices. According to it, the US-based commercial remote sensing satellite operators must receive the license before its use. It also puts the restriction on the use of radar imaging, night-time imaging and short-wave infrared imaging.

The Wireless Telegraphy Act: This act is developed by the government of the UK which regulates the radio communications. It is concerned the transfer of electro-magnetic energy over paths.

Market Size and Forecast

Based on geography

The North American region is leading the global market with a market share of almost 45% of the total global imaging radars market. The market size of this region is valued at USD 439.2 million in the year 2020.
The Asia-Pacific region accounts for a market share of almost 30% of the total global imaging radars market. The market size of this region is valued at USD 292.8 million in the year 2020.
The European region accounts for a market share of almost 20% of the total global imaging radars market. The market size of this region is valued at USD 195.2 million in the year 2020.
ROW stands for rest of the world, which includes the Middle East & Africa and the South American region. This segment accounts for a market share of almost 5% of the total global imaging radars market. The market size of this region is valued at USD 48.8 million in the year 2020.

Based on type of product

The short-range radars segment is leading the market with a market share of almost 56% of the total global imaging radars market. The market size of this segment is valued at USD 546.56 million in the year 2020.
The mid-range & long-range radar segment accounts for a market share of almost 44% of the total global imaging radars market. The market size of this segment is valued at USD 429.44 million in the year 2020.

Based on the type of application

The aerospace & defense segment is leading the market with a market share of almost 37.5% of the total global imaging radars market. The market size of this segment is valued at USD 366 million. in the year 2020.
The automotive segment accounts for a market share of almost 36.67% of the total global imaging radars market. The market size of this segment is valued at USD 357.86 million in the year 2020.
The industrial segment accounts for a market share of almost 14.44% of the total global imaging radars market. The market size of this segment is valued at USD 140.97 million in the year 2020.

Market Outlook

The global imaging radars market is expected to grow at the CAGR of 6.3% within the forecasted time horizon of 2020-2025 because of rising demand for IoT and smart devices, increasing usage of surveillance systems in military units, governmental initiatives to mandate the integration of safety systems and growing global security concerns. Its market value will reach USD 1,324.69 million by the end of the year 2025.

Effects of COVID-19 pandemic on global market in imaging radars

The pandemic outbreak of the COVID-19 disease has influenced the global imaging radars market as the social mobility restrictions were imposed all across the globe. Because of this, the manufacture of the equipment related to image radar system is interrupted and disturbed. Similarly, the economic slowdown and geopolitical matters due to COVID-19 outbreak have limited its market in the early phase of pandemic.

However, later on after of the loose down of the social mobility restriction, the growth and development of the global imaging market returns to its previous market growth rate and is growing at a CAGR of 6.3% over the horizon of the forecasted time period.

Technology Roadmap

The major technologies and techniques adopted in the global imaging radars market are synthetic aperture radar, inverse synthetic aperture radar imaging, advanced synthetic aperture radar system, Monopulse radar 3D imaging, etc.

Here, Adoption of new and advanced technologies is facilitating to create the fine-resolution images in 2D and 3D dimensions with long-range mapping capacities. Thus, the adoption of the new technological system is creating a significant opportunity for the growth and development of the global imaging radars market.

Distribution Chain Analysis

The key stakeholders involved in the operation of this market are product manufacturers, software vendors, distributors, sales, and end-users. Here, the equipment required for the development of the imaging radar systems are manufactured and software vendors development the technological information management system for its control.

Competitive Factors

The key market players engaged in this global imaging radars market are competing for the development of the high-tech systems, high investment in research and development activities, mergers & acquisitions, geographical expansion, and collaborations.

For instance, the corner radar is implemented for 360-degree surveillance of car supported by short and mid radars of 24 GHz. BMW Motorrad has planned to introduce radar-guided adaptive cruise control systems for the motorcycles.

Key Market Players

The key market players engaged in the operation of this global imaging radars market are Continental, Hella, Denso, Lockheed Martin, Raytheon Company, ZF Friedrichshafen, Veoneer, Aptiv, and Vayyar.

Short profile of the key market players engaged in the global imaging radars market are discussed as follows:

Continental AG: It is the German-based multinational company engaged in the manufacture of the automotive parts for brake systems, interior electronics, automotive safety, powertrain & chassis components. The market size of this company is valued at USD 44.44 billion in the year 2020.

Hella: It is the German-based company specialized company engaged in the manufacture of lighting & electronic systems for the automotive industry. It also engaged in the supply of the automotive parts and accessories globally.

Denso: It is the Japanese company engaged in the manufacture of the automotive components, gasoline & diesel engine components, hybrid vehicle components, climate control systems, airbag systems, and spark plugs.

Lockheed Martin: It is the US-based company specialized in the sector of aerospace, arms, defense, information security and technology. The revenue of this company is valued at USD 65.4 billion in the year 2020.

Raytheon Company: It is the US-based manufacturing company engaged in the sector of the weapons, military and commercial electronics. The revenue of this company is valued at USD 27.1 billion.

ZF Friedrichshafen: It is the German-based company specialized in engineering & manufacturing, automotive industry, rail transport, marine engineering and aviation. Its major products are transmission systems, steering, axle components, advanced driver-assistance systems, seat belt systems, and brake systems.

Veoneer: It is the Swedish company specialized in the sector of the automotive technology. The major products of this company are vision systems, radars, advanced driver assistance and autonomous drive software.

Aptiv: It is the Ireland-based company specialized in the sector of the vehicle electronics, systems, modules and components. The revenue of this company is valued at USD 14.43 billion.

Vayyar: It is the Israel-based semiconductor company engaged in the production of the 4D imaging radar sensors for automotive, senior care, retail, smart home and commercial property sector.

Strategic Conclusion

The global imaging radars market is growing at the CAGR of 6.3% within the forecasted time horizon of 2020-2025 because of rising demand for IoT and smart devices, increasing usage of surveillance systems in military units, governmental initiatives to mandate the integration of safety systems and growing global security concerns However, issue of the electronic warfare and high cost of development might restrain the growth and development of this global imaging radars market.

References

Appendix

IoT= Internet of things
USD= United States Dollar
CAGR= Compound Annual Growth Rate