Is it correct that the varying stream of electrons or photons or wavicles etc. in the transmitting antenna (i.e complex analog signal) are literally flying or traveling in air or vacuum and then get inside the receiving antenna to form back the transmitted information?
If not, then what is the best explanation how does the information reach at the receiving end?
The only accessible reality to physics studies is the one we can reach with our mathematical tools. They extend our five senses to small and large dimensions and describe what our instruments measure. This site is for mainstream physics questions and mathematics is the basic language.
When physics mathematical knowledge is used in engineering, which is the realm of antennas and transmission of information, another site would be appropriate for submitting this question, because the complexity becomes even worse.
A simplistic explanation of how information can be transmitted with radio frequency electromagnetic waves is the following:
Electromagnetic waves ride on zillions of elementary particles, called photons. Have you seen a stadium wave ? Its medium is people lifting themselves off their seat in a time sequence, nobody moves much, but the wave passes . If the thousands of people were throwing a ball in the direction of the wave, there would be a wave of balls going around the stadium.
Electrons in the metal of the antenna, under the rhythmic influence of induced currents in the antenna metal, throw off, radiate, photons that join up, and, with the velocity of light, leave the antenna as a coherent wave. This wave reaches a receiver antenna which interacts with the electrons in the antenna, and gives them a drift velocity with the frequencies and intensity of the incoming wave, which generates a current, which can be read in the electronic instruments of the antenna.
The modulation of the currents in the transmitting antenna can imprint a signal on these zillions of photons ( either in intensity or in frequency) which is transmitted to the receiving antenna.
The Morse code was the first way that information was modulated on an electromagnetic wireless signal,
Starting in late 1894, Guglielmo Marconi began pursuing the idea of building a wireless telegraphy system based on Hertzian waves (radio). Marconi gained a patent on the system in 1896 and developed it into a commercial communication system over the next few years.
At present electronic circuits can continuously modulate radio wave beams, carrying complicated sounds and images which leave, riding on zillions of photons through the air, and are received in a receiving antenna, the signal read off the currents induced by the absorption of the incoming photons.
To get an idea of what complicated mathematics models electromagnetic waves need have a look at this
Basic phenomenons of the electromagnetic radiation
Applications of EM radiation by humans (according to your question)
Accelerated between a gap in the conducting circuit electrons produce EM radiation in a wide range from visible radiation (sparks) to X-rays. See the Spark Gap transmitter of Heinrich Herzt.
Moving non-parallel to an external magnetic field electrons undergo a deflection perpendicular to the plane between the direction of movement and the external magnetic field. Take the thumb and the second and third fingers of your hand to visualize this! It's called the Lorentz force. During the deflection the electron looses kinetic energy (gets de-accelerated) and emits EM radiation (and came to standstill after exhausting its kinetic energy in the form of the emitted radiation).
Radio waves
In an antenna rod - which the s an open electric circuit - electrons get accelerated and de-accelerated forth and back by an antenna generator (AC current):
With curtesy to Wikipedia, the animation see here
The synchronously and periodical accelerations of the electrons led to a synchronously and periodical emission of photons.
In the near field of the antenna - moving with the radiation (with the speedd of light) in the direction of radiation (line of observation perpendicular to the antenna rod) - the radio wave looks like the graphics in this explanation of the photons electric and magnetic field components.
Your right thoughts
Is it correct that the varying stream of electrons ... in the transmitting antenna ... (induce photons which)... are literally flying or traveling in air or vacuum and then get inside the receiving antenna to form back the transmitted information?
Yes, an accelerated stream of electrons induces a stream of photons, flying in empty space away until hitting subatomic particles (the receiving antenna.
Making a modulation to the emitted EM radiation one could transmit information. In the easiest way interrupting the radiation (Morse signal mentioned by Anna) or varying the frequency of the radio wave or varying the intensity of the radiation.
