Global Microwave Devices Market
Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Microwave Devices Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global microwave devices market grew from $6.48 billion in 2022 to $7.01 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The microwave devices market is expected to grow to $9.69 billion in 2027 at a CAGR of 8.4%.
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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.
The microwave devices market consists of sales of relays and coaxial switches-based microwave devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the microwave devices market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microwave devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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.