The global microwave devices market size is expected to showcase considerable growth by reaching USD 9.00 billion by 2027 while exhibiting a CAGR of 5.45% between 2020 and 2027. Fortune Business Insights published this information in its latest report, titled, “Microwave Devices Market, 2020-2027”.
The microwave devices market refers to the industry that deals with the production, distribution, and sale of various microwave devices, including microwave ovens, microwave components, and microwave systems. Microwave devices utilize electromagnetic waves in the microwave frequency range to perform various functions such as heating, cooking, communication, and radar applications.
We have divided the market based on type, frequency, end-user, and region. Based on type, the market is segmented into active and passive. On the basis of frequency, the market is segregated into Ku-Band, Ka-Band, S-Band, C-Band, X-Band, L-Band, and others. Moreover, based on end-user, the market is categorized into telecommunication, space, defense, industrial, healthcare, and others.
- Based on end-user, the telecommunications segment is expected to showcase considerable growth backed by the growing demand for advanced communications satellites that will bode well for the adoption of microwave devices to offer point-to-point communication enhancing data security and reliability.
Lastly, based on region, the market is bifurcated into North America, Europe, Asia-Pacific, and Rest of the World.
List of the Companies Profiled in the Global Market:
- Analog Devices Inc. (The U.S.)
- Communications Power Industries LLC (CPI) (The U.S.)
- General Dynamics Corporation (The U.S.)
- Kratos Defense Security Solutions, Inc. (The U.S.)
- L3Harris Technologies, Inc. (The U.S.)
- MACOM Technology Solutions Inc. (The U.S.)
- Microsemi Corporation (The U.S)
- Microwave Technology, Inc. (The U.K.)
- Qorvo Inc. (The U.S.)
- Richardson Electronics, Ltd. (The U.S.)
- Teledyne Technologies Incorporated (The U.S.)
- Thales Group (France)
- TMD Technologies Ltd (The U.K.)
- Toshiba Corporation (Japan)
What does the Report Include?
The market report provides in-depth analysis on key aspects such as optimization of manufacturing processes and RD capabilities. Additionally, the report provides details about the market trends and highlights key industry developments, regional analysis, and key company profiles using several research methodologies. Moreover, it enlists the factors that will contribute to the growth of the market between 2020 and 2027.
Increasing Demand for Advanced Communication Systems to Propel Market Growth
In March 2020, the U.S. Space Force announced the launch of the AEHF -6 (USA-298) satellite to provide secured and advanced military services. The increasing need to provide advanced communication devices to ensure quick and secure delivery of information is expected to propel the demand for advanced microwave devices worldwide. In addition to this, the growing RD activities in medical imaging technology to provide accurate and quick detection of chronic diseases such as cancer, malignant tumor tissue, and others is expected to boost the global microwave devices market growth in the forthcoming years.
North America – The region stood at USD 2.48 billion in 2019 and is expected to hold the largest global microwave devices market share in terms of revenue in the forthcoming years. This is attributable to the presence of established players such as Qorvo Inc., L3Harris Technologies, Inc., and Teledyne Technologies Incorporated in the region.
Europe – The region is expected to hold the second position in the market during the forecast period. This is ascribable to factors such as increasing focus on developing the healthcare industry in countries such as Germany, Sweden, and the U.K that is likely to boost the adoption of advanced microwave devices in the region between 2020 and 2027.
Key Players Focus on Joint Ventures to Amplify Their Market Positions
The global market for microwave devices is fragmented by the presence of key players that are striving to maintain their presence by focusing on joint ventures to develop advanced data transmission systems to cater to the growing demand from several industrial applications. Other key players are adopting strategies such as collaboration, partnership and facility expansion that will bode well for the growth of the market in the forthcoming years.
- June 2020 –Richardson Electronics, Ltd. signed a new distribution agreement with Guangdong DaPu Telecom Technology Co., LTD. As per the agreement, the companies will develop high-quality products across various applications such as RF and microwave communications, industrial, radar, wired and wireless transmission, and test equipment.