Major players in the microwave devices market are L3 Technologies, API Technologies, Thales Group, Electron Energy Corporation, CableFree, Teledyne UK Limited, Toshiba Corporation, CPI International Inc.
New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microwave Devices Global Market Report 2023" - https://www.reportlinker.com/p06310151/?utm_source=GNW
, Cytec Corporation, TMD Technologies Ltd., Richardson Electronics Ltd., Microsemi Corporation, Qorvo Inc., and Texas Instruments.
The global microwave devices market grew from $6.48 billion in 2022 to $7.01 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The microwave devices market is expected to grow to $9.69 billion in 2027 at a CAGR of 8.4%.
The microwave devices market consists of sales of relays and coaxial switches-based microwave devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Microwave devices are devices that are capable of generating, modifying, amplifying, detecting, and measuring microwaves frequencies. Microwave devices include microwaves technology which is generally referred to as line-of-sight wireless communication technology uses high-frequency beams of radio waves for high-speed wireless connections.
North America was the largest region in the microwave devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the microwave devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of microwave devices are active and passive.The Active Microwave Components domain includes semiconductor technologies and components for amplification, mixing, switching, and production of microwave radio signals with frequencies ranging from 300 MHz (wavelength 1m) to 300 GHz (wavelength 1mm).
The various frequencies involved are Ku band, Ka-band, S-band, C band, X band, and L band and are used by end-users such as space and communication, defense, commercial, and others.
The rising military and defense expenditure is significantly contributing to the growth of the microwave devices market.The military and defense are the armed forces that are mainly responsible for defending and securing a country.
The microwave devices have greater importance in performing secure and reliable operations such as intensive signal processing, data security, and proficient information transmission in critical environments.The increasing focus and expenditure by the military and defense on adopting advanced devices will propel the growth of microwave devices.
For instance, according to the Stockholm International Peace Research Institute, Sweden, an international institute that provides data, analysis, and recommendations for armed conflict, military expenditure and arms trade, the global military expenditure increased to $1981 billion in 2020, an increase of 2.6% from 2019. Therefore, the rising military and defense expenditure is driving the growth of the microwave devices market.
Product innovations are the key trends shaping the microwave devices market.The market players are developing advanced products with innovations for their market growth strategy.
For instance, in September 2021, NEC India, an IT service provider company launched iPASOLINK EX Advanced Dual, a wireless microwave radio system that supports 70-80 GHz E-band communications. It is an integrated and ultra-compact microwave radio system that works on advanced LTE and 5G services.
In August 2021, Knowles Precision Devices, a US-based microelectronic components company acquired Integrated Microwave Corporation (IMC) for an undisclosed amount.Through this acquisition, Knowles Precision Devices will expand its aerospace and defense market portfolio to offer a range of microwave filtering solutions and radio frequency (RF) that supports Ka-band.
Integrated Microwave Corporation is a US-based company that designs and manufactures microwave filters for the aerospace, test equipment, defense, and communications industry.
The countries covered in the microwave devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The microwave devices market research report is one of a series of new reports that provides microwave devices market statistics, including microwave devices industry global market size, regional shares, competitors with a microwave devices market share, detailed microwave devices market segments, market trends and opportunities, and any further data you may need to thrive in the microwave devices industry. This microwave devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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