Market Research Report
Global Microwave Device Market Size study, By Product, By Frequency, By End User, and Regional Forecasts 2022-2028
|Global Microwave Device Market Size study, By Product, By Frequency, By End User, and Regional Forecasts 2022-2028|
Published: April 28, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Microwave Device Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.
Microwave device is the vital component of microwave system that works in numerous bands according to their applications. These devices offer secure connectivity, high data transmission rates, and minimal power usage. Microwave devices are majorly used by various end-use verticals such as space & communication, military & defense, healthcare, others for satellite communication, radar signals, and navigational applications. The rapid penetration of 5G and IoT into the telecom sector, increasing military & defense expenditure, rising need for secure and fast satellite communication and growing demand for microwave devices for patient monitoring are the primary factors that are surging the market demand across the globe. For instance, the US government has introduced their base budget for defense with nearly USD 671 billion in 2021, a rise from USD 6 billion from the financial year 2020 (USD 665 billion). Thereby, growing spending on the military & defense is likely to foster the demand for microwave devices, which leads the market growth in the impending years. However, the high cost of microwave devices and electromagnetic interference impede the growth of the market over the forecast period of 2022-2028. Also, technological breakthroughs in microwave infrastructure and the growing focus on the miniaturization of microwave devices are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Microwave Device market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing investments in the 5G infrastructure and rising adoption of microwave devices in their warfare equipment. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the availability of government funding in the military & defense sector, as well as, the growth of developing countries such as India and China would create lucrative growth prospects for the Microwave Device market across the Asia-Pacific region.
Major market players included in this report are:
L3 Harris Technologies, Inc.
Teledyne Technologies Incorporated
CPI International Inc.
Richardson Electronics, Ltd.
Analog Devices, Inc.
General Dynamics Corporation
Honeywell International Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Active Microwave Devices
Passive Microwave Devices
By End User
Space & Communication
Military & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Microwave Device Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures