Microwave Devices Global Market Report 2024 by The Business Research Company | L3 Technologies Inc., API Technologies Corp., Thales Group, Electron Energy Corporation, CableFree, Teledyne UK Limited, Toshiba Corporation, CPI International Inc., Cytec Corp

The microwave devices market size has grown strongly in recent years. It will grow from $7.06 billion in 2023 to $7.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to military applications, satellite communications, wireless networks, microwave ovens, radar systems.

The microwave devices market size is expected to see strong growth in the next few years. It will grow to $10.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to medical imaging, telecommunication infrastructure, consumer electronics, space exploration, scientific research, energy harvesting. Major trends in the forecast period include biomedical applications, sustainable agriculture, smart grids, 5g technology, quantum computing.

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Microwave Devices Market Major Segments
The microwave devices market covered in this report is segmented -

1) By Type: Active, Passive
2) By Frequency: Ku Band, Ka Band, S Band, C Band, X Band, L Band
3) By End User : Space And Communication, Defence, Commercial, Other End-Users

Key Driver - Increased Investment In Military And Defense Drives Growth In The Microwave Devices Market

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, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based international institute, world military spending increased by 3.7% in 2022, reaching $2240 billion in real terms. Therefore, the rising military and defense expenditure is driving the growth of the microwave devices market.

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Prominent Trend - Nec India Introduces Cutting-Edge Microwave Radio System For Enhanced Communication

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.

Microwave Devices Market Players
Major companies operating in the microwave devices market include L3 Technologies Inc., API Technologies Corp., Thales Group, Electron Energy Corporation, CableFree, Teledyne UK Limited, Toshiba Corporation, CPI International Inc., Cytec Corporation, TMD Technologies Ltd., Richardson Electronics Ltd., Microsemi Corporation, Qorvo Inc., Texas Instruments Inc., Communications & Power Industries LLC, NXP Semiconductors N.V., MACOM Technology Solutions Inc., Analog Devices Inc., Fujitsu Limited, Hitachi Ltd., Infineon Technologies AG, Kyocera Corporation, LG Electronics Inc., Mitsubishi Electric Corporation, Murata Manufacturing Co. Ltd., NEC Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Skyworks Solutions Inc., Sony Corporation

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Largest And Fastest Growing Region In The Market
North America was the largest region in the microwave devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microwave devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Microwave Devices Market Report Structure
3. Microwave Devices Market Trends And Strategies
4. Microwave Devices Market - Macro Economic Scenario
5. Microwave Devices Market Size And Growth
…..
27. Microwave Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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