Theoretical and experimental evaluations of potential capabilities of Noise Radar Technology (NRT) in design and development of radar sensors are presented. Derivation of Ambiguity Function for Pulsed Noise Waveform is given. Theoretical basis for Noise Radar design and three different methods for coherent processing of Noise Radar returns are briefly described. Interference immunity and probability of interception for NR as well as current and future applications of NRT are presented. In concluding remarks, the methods and existing technologies for design and development of NRT key components are listed and the nearest tasks for NRT developments are pointed out.