"Smart Market Solutions to Help Your Business Gain Edge over Competitors"
The global microwave devices market size was USD 5.20 billion in 2020. The market is projected to grow from USD 5.36 billion in 2021 to USD 11.08 billion in 2028 at a CAGR of 8.76% in the 2021-2028 period. The global impact of COVID-19 has been unmatched and staggering, with the product witnessing a low demand across all the regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 15% in 2020 compared to the average year-on-year growth during 2017-2019. The rise in the CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.
Microwave devices are an important component of microwave systems that function in various frequency bands depending on the application. They provide advantages such as high data transmission rates, secure connectivity, and minimal power usage. As a result, these devices are widely employed in a variety of applications, including satellite communication and navigation, radar, electronic warfare, medical, space, and commercial communication. The communication satellite is equipped with devices operating on a shorter wavelength compared to radio waves. The microwaves can directly pass through the ionosphere atmospheric layer, whereas the ionosphere reflects radio waves.
In addition to this, technologically advanced microwave antennas assist in transmitting and receiving data through all atmospheric orbits. Therefore, the market experiences considerable growth during the forecast period owing to an increase in satellite launches.
• In August 2020, the Federal Communications Commission granted Space Exploration Technologies Corp. clearance to launch 12,000 satellites into low earth orbit.
Disruption in Supply Chain Management amid COVID-19 to Decline Growth
Due to postponed satellite launches and disruptions in the supply chain across critical locations, the COVID-19 outbreak has significantly impacted the market. Major corporations and space agencies have canceled several space launches. This has impeded the space industry ecosystem and has impacted scheduled space launches. The cancellation of space launches has further impacted companies' supply chains. To prevent the spread of the coronavirus, governments in several nations have limited the number of personnel in space and wireless device manufacturing enterprises. As a result of the pandemic, several businesses have gone bankrupt.
Request a Free sample to learn more about this report.
Increase in Use of Gallium Nitride (Gan) Material to Manufactures Microwave Devices to Boost Growth
The material including Silicon (Si), Gallium Nitride (GaN), Silicon Carbide (SIC), and Gallium Arsenide (GaAs) play a critical role in the manufacturing of microwave devices. The qualities of the material used in device production can determine the performance of microwave devices. The fabrication of these devices has increased the need for GaN semiconductor material. GaN is a high-frequency semiconductor compound material with a 3.4 eV broad bandgap, high power density, thermal conductivity, and high voltage capabilities. GaN's features make it possible to create tiny devices that tolerate higher power levels than GaAs. This factor encourages the use of GaN semiconductor material in the manufacture of these devices.
Need for Improved Communications Services to Aid Growth
These devices use microwave links to offer point-to-point communication, allowing the end-user to receive the most information rapidly and securely. As a result, microwave lines are used by the army, NASA, and a number of other national security institutions to transport classified information within their organizations. It also provides strong communication security, which is beneficial for a variety of Space communication applications.
The growing emphasis on Space satellite launches to enhance the Space communication network is driving market expansion in both developed and emerging countries. The advanced extremely high-frequency satellite series, for example, is a communication satellite series operated by the United States Space Force. This communication satellite is used to transfer secure information to air, land, and naval platforms via microwave equipment.
Therefore, the use of high-performance and accuracy devices for secured communication is propelling the microwave devices market growth during the projection period.
Increasing Demand for Microwave Devices Equipped Medical Instruments to Boost Market Growth
The rapid growth in healthcare research and development activity boosts the demand for microwave technology-enabled medical devices, as they offer highly accurate or precise test results. Microwave tomography, a type of medical imaging that uses microwave technology, is now frequently employed. Ultra-wideband microwave imaging is a well-known approach for cancer detection based on the enormous electrical contrast between malignant tumor tissue and surrounding normal bodily tissue.
High Risk of Electromagnetic Jamming is a Major Challenge for Market
The increased threat of electromagnetic jamming due to the changing nature of warfare is projected to limit market expansion. The deliberate radiation or reflection of electromagnetic energy to hinder effective utilization of the opponent's electromagnetic spectrum is known as electromagnetic jamming. Since microwave communication cannot pass through solid matter, it is limited to line-of-sight transmission, and the high installation costs of systems are projected to restrict market expansion.
Active Type Segment Held Dominant Share in 2020
Based on type, the market is divided into active and passive microwave devices.
The active segment registered the largest microwave devices market share in the global market in 2020. Active devices such as transistors, amplifiers, oscillators, tubes, diodes, and integrated circuits are widely used in electronics systems. This large share of active devices has been attributed to the increase in the development of advanced active microwave systems for various industrial applications such as telecommunication, space, defense, industrial, and healthcare. This segment is expected to remain the largest segment during the projection period.
Furthermore, the passive segment is anticipated to grow at a significant compound annual growth rate during 2021-2028. Active microwave devices require external sources to drive them and conduct an operation. Hence, they are usually incorporated in a passive matching circuit. Without the passive component, the active part cannot function.
To know how our report can help streamline your business, Speak to Analyst
Increasing Use of Ka-Band to Transmit Information at High Speed to Drive Segment Growth
Based on frequency, the market is divided into Ku-Band, Ka-Band, S-Band, C-Band, X-Band, L-Band, and others.
In the base year, the Ku-band frequency segment had the largest market share. The widespread use of Ku-band for Space and commercial purposes around the world accounts for this considerable percentage.
During the projected period, the Ka-band segment is expected to grow at the highest CAGR. The Ka-band operates in the 26.5-40GHz frequency range, which is the highest among the bands. More bandwidth is accessible as the frequency rises, and the higher the bandwidth, the more data can be sent. As a result, the Ka-band uses a broader frequency range than other band frequencies, allowing for faster data transfer.
Due to the rising use of these bands for various applications such as mobile phones, Bluetooth, GPS, radio communication, and Space telemetry, the S-Band, C-Band, X-Band, and L-Band are expected to have a considerable market share throughout the projected period.
Telecommunications Segment Registered Largest Market Share
In terms of the end-use industry, this market is segmented into telecommunication, space, defense, industrial, healthcare, and others.
In 2020, the telecommunications segment was expected to have the largest market share. This large share is due to the growing usage of microwave antennas to transmit data from one end to the other. The device also features point-to-point connectivity, which improves data security and dependability.
The space end-use industry segment displays the highest growth during 2021-2028 due to increased investment in space research and development activities and satellite launch programs.
The widespread adoption of microwave technology for cancer cell detection, aesthetic treatments, gynecology, dental treatments, and other applications is likely to drive significant growth in the healthcare sector.
North America Microwave Devices Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The global market is segmented into regions, North America, Europe, Asia-Pacific, and the Rest of the World.
North America's market size was USD 2.11 billion in 2020 and is likely to continue to dominate for the foreseeable future. This supremacy is due to the region's rising emphasis on developing the space and defense industries. The U.S. invests a lot of money in space research and development. Furthermore, prominent firms in the U.S., such as L3Harris Technologies, Inc., Teledyne Technologies Incorporated, Qorvo Inc., and Analog Devices Inc., are projected to fuel market expansion.
During the forecast period, Asia Pacific is expected to grow at the quickest rate in the market. This increase can be ascribed to increased government investment in Space weapons system upgrades. In order to bolster Space capabilities, the Chinese and Indian governments have intensified their focus on the development of modern Space radar systems. In addition, China and India are driving market expansion in Asia Pacific by increasing their procurement of advanced equipment for 5G technology.
The market in Europe is expected to hold the second-largest share due to the large focus on developing the healthcare industry in European countries such as the U.K., Germany, Sweden, and Denmark.
The market in the rest of the world is expected to rise at a moderate pace during the projection period. The market is growing due to considerable developments in the telecommunications industry in Brazil and the United Arab Emirates.
Market Players to Focus on Providing Cost-Efficient and Pocket-Sized Products
The industry is highly fragmented, with companies such as Teledyne Technologies Incorporated, Thales Group, Communications & Power Industries LLC, L3Harris Technologies, Inc., and Qorvo Inc. among the leading participants. These companies concentrate on developing low-cost, small-scale microwave devices for use in the space, communication, commercial, and defense industries. In addition, the corporations are focusing on expanding their capabilities and maintaining their market position through R&D investment, smart acquisitions, and collaborations. For example, Qorvo Inc. presented its newly designed and produced CMD328K3, a best-in-class, small-sized low noise amplifier, in November 2020. This tiny amplifier is mostly used in communication, phased array radar, and electronic warfare systems.
An Infographic Representation of Microwave Devices Market
To get information on various segments, share your queries with us
The global microwave devices market research report offers a thorough examination of the industry. It covers essential topics such as R&D capabilities and manufacturing process optimization. Aside from that, the research provides information on market trends as well as important industry developments. In addition to the elements mentioned above, the study focuses on a number of other aspects that have aided the developed market's rise in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Estimated Year | 2021 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Value (USD Billion) |
Segmentation | Type, Frequency, End-Use Industry, and Geography |
By Type
| |
By Frequency
| |
By End-Use Industry
| |
By Geography
|
|
Fortune Business Insights says that the global market size was USD 5.20 billion in 2020 and is projected to reach USD 11.08 billion by 2028.
Registering a CAGR of 8.76%, the market will exhibit steady growth in the forecast period (2021-2028).
The Ku-Band Application segment is the leading segment in the market.
Teledyne Technologies Incorporated, Thales Group, L3Harris Technologies, Inc. are the leading players in the global market.
North America dominated the market in terms of share in 2020.