As per the research report titled ‘Europe Radar Sensor Market Forecast 2027 By Application, By Type Radar, By Range, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe radar sensor market is anticipated to amass USD 4 billion during 2021-2027.

Increasing number of government initiatives focusing on the development of smart cities in the region is fostering Europe radar sensor market growth.

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In addition, escalating product utilization in the public sector for efficient traffic management andfor improved surveillance is likely to propel industry profits in the forthcoming years.

Based on range, the industry share from the long-range segment is anticipated to progress at an impressive CAGR of 12.5% through 2027, owing to rapid product adoption in the aviation sector for navigation, precise object detection, and air warfare. 

From the perspective of application, the manufacturing segment is expected to contribute significantly to overall market revenue during the assessment timeline, attributable to surging demand for industrial automation to facilitate an enhanced productive
capacity. Notably, integration of latest technologies and radar sensors will aid in automating mass production processes and enhance factory security.

Regionally, United Kingdom radar sensor industry is expected to account for a sizable share in the market sphere during the review period, creditable to burgeoning investments towards strengthening defense & aviation sector in the country, boosting the demand for product.

For instance, the UK government signed an agreement with Leonard S.p.A and BAE Systems plc in September 2020 and directed an amount of USD 378.6 million with the aim of creating advanced radar sensors to further the abilities of the Royal Air Force.

On the other hand, Germany market is expected to record a robust CAGR of 16.5% through the assessment timeline, due to the prevalence of major original equipment manufacturers (OEMs) in the region.

The competitive landscape of Europe radar sensor marketplace is defined by key players such as Veoneer Inc., Vayyar Imaging Ltd., UWT GmbH, Texas Instruments Inc, Socionext Inc., Sick AG, Smart Microwave Sensors (SMS) GmbH, Pepperl + Fuchs SE, OTT Hydromet GmbH, Navtech Radar, MediaTek Inc., Infineon Technologies AG, Hunan Nano Radar Science and Technology Co. Ltd., Hella KGaA Hueck & Co., Denso Corporation, Baumer Holding AG, Continental AG, Banner Engineering Corp., AMG Microwave, and Acconeer AB.