The Business Research Company's Microwave Devices market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, July 7, 2022 /PRNewswire/ -- North America was the largest region in the microwave devices market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global microwave device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global microwave devices market size is expected to grow from $5.99 billion in 2021 to $6.37 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The global microwave device market size is expected to grow to $8.23 billion in 2026 at a CAGR of 6.6%.
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Microwave Devices Market Overview
The microwave devices market consists of sales of microwave devices by entities (organizations, sole traders, and partnerships) that are for communication purposes. Microwave devices are devices that are capable of generating, modifying, amplifying, detecting, and measuring microwaves frequencies. Microwave devices include microwaves technology which is generally referred to as line-of-sight wireless communication technology uses high-frequency beams of radio waves for high-speed wireless connections.
The main types of microwave devices are active and passive. The active microwave components domain includes semiconductor technologies and components for amplification, mixing, switching, and production of microwave radio signals with frequencies ranging from 300 MHz (wavelength 1m) to 300 GHz (wavelength 1mm). The various frequencies involved are Ku band, Ka-band, S-band, C band, X band, and L band and are used by end-users such as space and communication, defense, commercial, and others.
Microwave Devices Market Growth
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.
Key Microwave Device Market Players
Major players in the microwave devices market are L3 Technologies, API Technologies, 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, and Texas Instruments.
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