Press release
Increased Investment In Military And Defense Drives Growth In The Microwave Devices Market: A Key Driver Powering Microwave Devices Market Growth In 2025
Microwave Devices
What Is the Current Microwave Devices Market Size and Its Estimated Growth Rate?
The market size for microwave devices has experienced substantial growth in the past few years. Its valuation is predicted to jump from $7.47 billion in 2024 to $7.99 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The notable growth from the past can be credited to their usage in military activities, satellite communications, wireless networking, microwave ovens, and radar systems.
In the coming years, the microwave devices market is projected to witness significant expansion, reaching a value of $10.97 billion in 2029, with a compound annual growth rate (CAGR) of 8.3%. This anticipated growth can be ascribed to various factors such as improvements in medical imaging, enhancements in telecommunication infrastructure, advances in consumer electronics, space exploration projects, scientific research, as well as energy recovery efforts. Further forecast period trends include the application of these devices in biomedical procedures, sustainable farming techniques, smarter grid systems, the advent of 5g technology, as well as advancements in quantum computing.
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How Are Emerging Segments Shaping the Microwave Devices Market Landscape?
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, Defense, Commercial, Other End-Users
Subsegments:
1) By Active: Microwave Amplifiers, Microwave Oscillators, Microwave Transmitters, Microwave Generators
2) By Passive: Microwave Filters, Microwave Couplers, Microwave Antennas, Microwave Isolators, Waveguides
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Which Growth Factors Are Influencing Microwave Devices Market Expansion?
The escalating expenditure on military and defense is significantly fuelling the expansion of the microwave devices market. The primary duty of the military and defense forces is to protect and secure a nation, and microwave devices play a crucial role in conducting secure, reliable operations including intensive signal processing, data security, and effective information transmission in extreme environments. The growing focus and investment by the military and defense sectors in incorporating advanced technology is fostering the growth of microwave devices. For example, in April 2023, the Stockholm International Peace Research Institute, a global institute based in Sweden, reported a 3.7% increase in global military expenditure in 2022, amounting to $2240 billion in tangible terms. Consequently, the escalating military and defense expenditure is stimulating the expansion of the microwave devices market.
Who Are the Dominant Players Across Different Microwave Devices Market Segments?
Major companies operating in the microwave devices market include 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
What Are the Latest Developing Trends in the Microwave Devices Market?
The microwave devices market is being primarily influenced by innovative product developments. Industry leaders are focusing on creating advanced and innovative product offerings to bolster their market growth. For instance, in March 2023, Huawei, a leading technology entity from China, introduced MAGICSwave. This technology is engineered for conventional microwave applications, which includes ultra-long-reach transmission in suburban areas and high-capacity urban utilization. It incorporates state-of-the-art features such as the all-new 2T across all bands, the ultra-long-reach transmission, true wideband, and a highly unified integrated platform, thereby allowing operators to establish cost-economic 5G transport networks.
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Which Geographic Regions Are Expected to Dominate the Microwave Devices Market in the Coming Years?
North America was the largest region in the microwave devices market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Microwave Devices Market?
2. What is the CAGR expected in the Microwave Devices Market?
3. What Are the Key Innovations Transforming the Microwave Devices Industry?
4. Which Region Is Leading the Microwave Devices Market?
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