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Global Microwave Devices Market to Reach USD 13.84 Billion by 2027, Aided by the Growing Adoption of the Devices across the Defence Sector

According to a new report by EMR titled, ‘Global Microwave Devices Market Report and Forecast 2022-2027’, the global microwave devices market reached a value of USD 10.16 billion in 2021. The industry is further expected to grow at a CAGR of 5.29% in the forecast period of 2022-2027 to reach a value of USD 13.84 billion by 2027.

An increase in demand for microwave technology has surged in recent years due to the ability of technology to transmit through huge bandwidth without the requirement of cable. Microwave devices are faster and reliable and can carry bulk information to long distances, which are the other factors contributing to the growth of the microwave device market. There is a rise in demand for microwave devices, for instance, in remote sensing, tracking, and other applications in the satellite industry and the huge demand from residential and healthcare segments, thereby facilitating the growth of the microwave device market. As the necessity to communicate sensitive information grows, these devices are becoming more widely used in the defence sector. Furthermore, the rising prevalence of cancer is predicted to increase demand for microwave technology, which is widely used in medical imaging to diagnose life-threatening disorders worldwide. These factors are projected to contribute to the global microwave devices market's growth in the coming years. Also, the Gallium Nitride devices and Silicon Carbide devices are adopted widely by amplifier technology. Due to high efficiency, high thermal tolerance, and high sustainability in critical environmental conditions is expected to upsurge the global microwave devices industry.

Huge expenditure by the governments on the defence, space communication sector is expected to open new opportunities for microwave devices globally, which will increase competition among players. For example, in August 2019, Communications & Power Industries LLC (CPI) has entered into an agreement to purchase SATCOM Technologies, the antenna systems business of General Dynamics Mission Systems, Inc., a business unit of General Dynamics. This business would complement CPI's existing portfolio of communications products for government, military, and commercial applications.

Market Analysis by Band Frequency, Application, and Regions:

  • The band frequency in the market is S-band, C-band, X-band, Ku-band, and Ka-band.
  • The various applications of the market are communication, medical, military and defence, among others.
  • The regional markets for microwave devices include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • The growing customer base owing to increasing focus towards implementing connected technology, such as IoT, is anticipated to boost the market growth in upcoming years.
  • Microwave communication infrastructure is also employed in wireless backhauls, which are gaining a lot of popularity over wireline networks all over the world. As a result, the market's growth is aided by the increasing penetration of wireless communication networks.
  • Manufacturers are also concentrating on creating next-generation microwave devices with hybrid spin electromagnetic waves in ferrite-ferroelectric multilayer structures, which are expected to provide profitable growth prospects for market competitors.
  • Manufacturers across the globe are investing in the development of innovative and stylish microwave devices due to research and development activities. This is expected to drive the growth of the microwave devices market globally.

Key Offerings of the report:

  • The EMR report gives an overview of the global microwave devices market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for band frequency, application, and major regions of microwave devices.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global microwave devices industry are Cytec Corporation, Communications & Power Industries (CPI), Teledyne e2V, Richardson Electronics, Ltd., and TMD Technologies Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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