Global RF and Microwave Diodes Market - Growth, Trends, and Forecasts (2022 - 2027)

RF and Microwave Diodes market is anticipated to register a growth of 3.6% over the forecast period. Growing electronics applications in industrial, consumer, medical, and automobile sectors are driving the demand for RF and Microwave diodes. Additionally, market players are increasingly supplying a full range of silicon and gallium arsenide diodes, including limiter and PIN diodes, tuning and multiplier varactors, and noise diodes that meet the demands of various end-user industries' unique system designs.

Key Highlights

• Market players offer RF and microwave diode switches, limiters, attenuators, comb generators, phase shifters, and detectors in several frequency ranges. For meeting the most stringent space or military application requirements, market players such as Microchip provide hermetically sealed diodes that can be combined to include several functions in a single high-reliability package.
• Integrated packages offered by industry players are able to provide higher performance benefits at a lower cost compared to using individual components in end-users' design. Some companies operating in the market only provide assemblies where they can control the high-risk components. This enables them to develop custom packaging that meets end-users' most demanding specifications.
• Fifth-generation (5G) mobile networks are currently a commercial reality, and further research towards sixth-generation (6G) technologies that are aimed to operate at frequencies above 95 GHz is underway. This will extend the use of RF and Microwave diodes as both 5G and 6G demand high-frequency devices, such as Schottky diodes.
• RF Schottky diodes that are made of metal oxide semiconductors have been attracting growing attention in the last few years due to their eco-friendly and inexpensive materials, high charge carrier mobility, ease of processing, mechanical compliance, and compatibility with large-area polymer substrates.
• Various RF and Microwave diode market players faced low production caused by the COVID-19 pandemic, which has affected the supply negatively. For instance, in March 2020, Renesas Electronics Corporation announced the effects of the pandemic on production sites. Three production sites in Malaysia and two production sites in China halted their production in line with the orders by the respective country's governments. Nevertheless, the pandemic has also resulted in a positive outlook for the market, which can be seen in post-pandemic sudden growth in a number of end-user industries.

Key Market Trends

Growing Demand in Aerospace and Defense Sector

• As the Aerospace and Defense industry recovers, industry players are expected to focus on innovation to develop new technologies and solutions and create new markets.
• According to macroeconomic trends, demand for small- and medium-sized aircraft is expected to continue to recover to reach pre-COVID levels in 2022, with aircraft manufacturers focussing on narrow-body aircraft being well positioned to benefit from this positive demand trend. Moreover, with air travel volumes recovered from the lows in 2020, revenues could recover strongly in 2022 as air traffic rebounds.
• According to Boeing Market Outlook published in September 2021, commercial airplanes and services are showing signs of recovery. The report also projected a USD 9 trillion market over the next decade for aerospace products and services that Boeing addresses.
• The global race for dominance and expanding sphere of influence of the world's major countries has led to rapid defense expenditure growth. The military hardware and technology market has steadily grown over the last decade.
• In June 2021, Fairview Microwave Inc., an Infinite Electronics brand and a leading provider of on-demand RF, microwave and millimeter wave components, announced launching a new series of high-power broadband RF and microwave PIN diode coaxial packaged switches. The newly launched series is ideal for aerospace and defense, microwave radio, military and commercial communications, SATCOM, VSAT, test and measurement, wireless infrastructure, and fiber optics applications.
• The United States and Russia have been the largest exporters of defense equipment for many decades. However, countries such as India, China, and South Korea are eying to increase their defense exports. This trend has resulted in increased demand for RF and Microwave diodes for advanced and complex defense equipment.

Asia-Pacific is Expected to Witness a Significant Growth

• The RF and Microwave diodes market has been rapidly expanding in the Asia Pacific region, owing to the growing penetration of communication services, the automotive industry, and the consumer electronics industry.
• In the Asia Pacific, mobile connectivity remains the foremost form of internet connectivity, particularly as for most of the population, it is the only form of connectivity. According to GSMA, at the end of 2021, mobile broadband networks covered nearly 96% of the region's population, indicating the Mobile Network Operators' investment in 3G, 4G, and increasingly 5G networks over the last decade.
• 5G adoption, as a percentage of total connections, is poised to accelerate in the Asia Pacific as the 5G technology's footprint is expanding across the region. As of December 2021, 5G was commercially available in 14 countries, with several other countries, such as India and Vietnam, expected to come on board in the next few years.
• The increasing demand for consumer electronics across Asia Pacific countries, such as China, the Republic of Korea, India, and Singapore, pushes numerous corporations to create manufacturing facilities in the region. The vast supply of raw materials and inexpensive start-up and labor costs are assisting enterprises in establishing production centers in the region.
• The automotive industry is also witnessing high growth in the region. For instance, according to Moody's Investor Service, India, the fourth largest automotive market globally, is set to witness an increase of 10% in 2022 on consumers' preference for personal vehicles over public transportation and strong underlying demand reflecting the general economic recovery. India's automotive industry saw a 27% growth in 2021.

Competitive Landscape

The Global RF and Microwave Diodes Market is fragmented and competitive, owing to the presence of various small and large players across the globe. Major players are involved in product innovation, partnerships, mergers, and acquisitions, among others, to have a competitive edge over others.

• October 2021 - Naprotek, LLC, a quick-turn and high-reliability electronics manufacturing company, acquired SemiGen, Inc., a privately held company. The new addition is set to increase Naprotek's capabilities to include advanced RF and Microwave products, including diodes, as well as assembly and test services. This acquisition will also expand Naprotek's reach across the United States.
• October 2021 - dB Control, a global defense electronics manufacturer and subsidiary of HEICO Corporation, acquired Paciwave, Inc. This acquisition will add specialized RF and microwave components to dB Control's product line for major defense contractors, military organizations, and commercial OEMs. These new products are set to be designed and manufactured particularly for defense and complex electronics applications that require PIN diode switches, PIN attenuators, switching assemblies, and integrated subsystems.

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