The high range obstacle detection system market size is projected to reach US$ 26.78 billion by 2031 from US$ 13.79 billion in 2023. The market is expected to register a CAGR of 8.7% in 2023–2031. The mounting demand for efficient obstacle detection systems in the automotive sector and the adoption of LiDAR technology across various industries are likely to remain key to high range obstacle detection system market trends.
The global high range obstacle detection system market is expected to expand rapidly due to its application in a variety of industry verticals, including automotive, robotics, aerospace, and defense. Some of the major factors driving the growth of the global high range obstacle detection system market include rising demand for autonomous vehicles and an increased need for collision detection. Technological advancements in sensors and related components are expected to create significant opportunities for market participants.
Reliable high-range obstacle detection is critical for fast-moving, safety-critical platforms such as autonomous cars to respond to hazards in real-time. A high Range Obstacle Detection System detects obstacles such as trees and buildings from a distance. It works by utilizing sensors such as radar, cameras, and lasers to measure the height and objects in the environment and notify the user when an obstacle is detected. These systems are used in a variety of applications, including vehicle and aircraft navigation, military detection, avoidance of landmines and others.
High range obstacle detection system is a sophisticated detection system that uses both radar and vision technologies to detects obstacles and hazards from a long distance. It is used in military applications, such as drones, ground vehicles, and ships. This system uses advanced sensors that helps to detect obstacles in the real-time. Such advanced technology helps to improve the efficiency of drones, unmanned surface vehicle (USV), and others. For such use of this technology in the military sector, the market players are funded by military to develop technically advanced solutions. For instance, in December 2023, KEF Robotics received funding from the US Department of Defense to develop an AI-enabled obstacle detection solution for US Army tethered drones.
There is a growing market of automated vehicles and self-driving systems as it poses safer and more efficient transportation. The automated vehicles generate the demand for the obstacle detection system, which further foster the demand for high range obstacle detection systems to gain accurate detection of obstacles. With the adoption of this solution, the vehicle quickly detects the obstacles and react accordingly. This feature enhances the safety of autonomous vehicles.
Key segments that contributed to the derivation of the high range obstacle detection system market analysis are type and application.
The geographic scope of the high range obstacle detection system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific region is expected to grow with the highest CAGR. The high range obstacle detection market is growing in the region with the rise in the use of industrial robots. The wide application of high range obstacle detection in autonomous vehicles and drones further fosters its market growth.
The regional trends and factors influencing the High Range Obstacle Detection System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses High Range Obstacle Detection System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 13.79 Billion |
| Market Size by 2031 | US$ 26.78 Billion |
| Global CAGR (2023 - 2031) | 8.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The High Range Obstacle Detection System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the High Range Obstacle Detection System Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The “High Range Obstacle Detection System Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
The global high range obstacle detection system market was estimated to be US$ 13.79 billion in 2023 and is expected to grow at a CAGR of 8.7% during the forecast period 2023 - 2031.
The mounting demand for efficient obstacle detection systems in the automotive sector and the adoption of LiDAR technology across various industries are the major factors that propel the global high range obstacle detection system market.
Soaring Demand for UAVs and UGVs is anticipated to play a significant role in the global high range obstacle detection system market in the coming years.
The key players holding majority shares in the global high range obstacle detection system market are BAE Systems plc, Blickfeld GmbH, Collins Aerospace, Honeywell International Inc., and ifm electronic gmbh.
The global high range obstacle detection system market is expected to reach US$ 26.78 billion by 2031.
The incremental growth expected to be recorded for the global high range obstacle detection system market during the forecast period is US$ 12.99 billion.