The global microwave devices market size was US$ 6.89 billion in 2021. The global microwave devices market size is forecast to reach US$ 11.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
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Microwave devices are essential parts of microwave systems that operate at various frequencies depending on their application. Their advantages include high data transmission rates, secure connectivity, and minimal power consumption. Therefore, they find use in a variety of applications, including satellite communication and navigation, radar, electronic warfare, medical, space, and commercial communication. As compared to radio waves, communication satellites operate on shorter wavelengths. As microwaves pass directly through the ionosphere, the ionosphere reflects radio waves.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors Influencing Market Growth
The increasing usage of satellite equipment, the need for high-speed telecommunications, and the adoption of gallium nitride devices & silicon carbide devices drive the market for microwave devices.
Due to high production costs and obstacles in wave propagation, the overall market may have slow growth.
A new generation of Internet of Things (IoT) devices, microwave power modules, and microwave amplifiers, along with expanded applications in cooking & medicine, present new opportunities to the global industry.
Impact Analysis of COVID-19
During COVID-19, a nationwide lockdown has forced microwave device manufacturers to halt production. As a result of government initiatives to slow COVID-19’s spread, military microwave system designers were experiencing short-term operational issues. Due to the travel bans imposed by governments worldwide to deal with the COVID-19 outbreak, research & development in the microwave device manufacturing industry have suffered. As a result of the COVID-19 pandemic, manufacturers of microwave devices saw a decline in demand for custom or standard hardware systems. Thus, the COVID-19 pandemic had negatively impacted the global microwave devices market growth.
Regional Insights
North America accounted for the largest revenue share in the microwave devices market in 2022. As a result of the rapid deployment of these devices in military equipment, the microwave devices market in the U.S. and North America is likely to grow tremendously over the forecast period. In addition, increased spending on 5G infrastructure will likely drive microwave devices market growth.
The Asia Pacific region is forecast to register a high CAGR in the market during the forecast period. As a result of major Asian economies such as China and India developing related sectors. As a result of the rapid rise in significant & existing businesses and the introduction of new goods in developing nations, Asia Pacific is adopting this system technology rapidly.
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Leading Competitors
The leading prominent companies profiled in the global microwave devices market are:
Analog Devices, Incorporated
Cobham Limited
CPI International
Cytec Corporation
General Dynamics
Honeywell International Incorporated
L3 Harris Technologies, Incorporated
MACOM Technology Solutions
Mitsubishi Electric Corporation
Panasonic Corporation
Qorvo
Richardson Electronics
Teledyne Technologies
Texas Instruments
Thales Group
Toshiba Corporation
Other Prominent Players
Scope of the Report
The global microwave devices market segmentation focuses on Product, Frequency, End-Use, and Region.
Segmentation based on Product
Active Microwave Devices
Solid-State
Gallium Arsenide (GAAS)
Silicon
Gallium Nitride (GAN)
Silicon Carbide (SIC)
Other Materials
Vacuum Electron
Travelling Wave Tube Amplifier (TWTA)
Klystron
Magnetron
Crossed-Field Amplifier
Others
Passive Microwave Devices
Segmentation based on Frequency
Ku-Band
C-Band
Ka-Band
L-Band
X-Band
S-Band
Others
Segmentation based on End-Use
Space & Communication
Military & Defense
Healthcare
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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