As per the research report titled ‘Asia Pacific Radar Sensor Market Forecast 2027 By Type Radar, By Range, By Application, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific radar sensor market is slated to amass a revenue of USD 13 billion by the end of 2027.

Rise in funds directed towards improving the aerospace and defense verticals of the region is driving Asia Pacific radar sensors market growth. Rapid adoption of Internet of Things (IoT) across manufacturing facilities and growing product utilization in the automotive are also expected to favor industry expansion in the upcoming years.

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Based on type, the imaging radar segment accounted for around 60% market share in the past and is expected to register a colossal CAGR of 20% over the forecast timeline, attributable to increasing inclination towards automated and electric vehicles.

Notably, these radars facilitate accurate object detection in all weather conditions, while also improving the performance of the vehicle. In addition, the deployment of advanced 4D imaging sensors has furthered Asia Pacific radar sensors industry remuneration over the past few years.

Speaking of application scope, the industrial segment is expected to record a robust CAGR of 19% through 2027, due to the advent of industrial robots that aid superior vision-based safety, collision avoidance, and a faster production process. Moreover, minimized risk of human error and integration of IIoT (industrial internet of things) contributing to further product uptake, fostering segmental expansion.

From a regional frame of reference, China marketplace is likely to register an impressive CAGR of 20% during the assessment timeline, creditable to rising incorporation of automation and robots across various industry verticals in the country. The integration of advanced radar sensors in fifth generation fighter aircrafts in China defense sector is contributing significantly to the total remuneration of the industry space.

The competitive framework of Asia Pacific radar sensors business sphere is influenced by prominent players such as Veoneer Inc., UWT GmbH, Texas Instruments Inc., Sick AG, Smart Microwave Sensors (SMS) GmbH, Pepperl + Fuchs SE, OTT Hydromet GmbH, Infineon Technologies AG, Hunan Nano Radar Science and Technology Co. Ltd., Hella KGaA Hueck & Co., Denso Corporation, Continental AG, Banner Engineering Corp., Ainstein AI, and Acconeer AB.