Microwave Devices Market to Grow at a CAGR of 7.15% During 2022-2029; Technological Advancements to Bolster Market Growth

The global microwave devices market size was USD 5.85 billion in 2021. The market size is expected to rise from USD 6.09 billion in 2022 to USD 9.88 billion by 2029 at a CAGR of 7.15% during the forecast period.

Fortune Business Insights™ published this information in its report titled, “Microwave Devices Market Size, Share & COVID-19 Impact Analysis, By Type (Active and Passive), By Frequency (Ku-Band, Ka-Band, S-Band, C-Band, X-Band, L-Band, and Others), By End-use Industry (Telecommunication, Space, Defense, Industrial, Healthcare, and Others), and Regional Forecast, 2022-2029.”

 Halted Manufacturing Operations Amid Pandemic Hampered Market Growth

The COVID-19 pandemic negatively affected the microwave devices market growth due to disruptions in the supply chain and revised import/export policies. Also, government imposed strict restrictions on transportation and travel activities hampered the supply of essential raw materials and affected the production and manufacturing rate of the leading companies. Furthermore, the companies started recovering due to increasing demand for microwave solutions. 

Russia-Ukraine War Impact Restrained the Market Growth

The Russia-Ukraine war crisis hampered the avionics and electronic industry to a greater extent. Also, Ukraine is the largest provider of neon gas and semiconductor-grade neon tube. The war crisis affected the supply chain of these gases from Ukraine to other countries. The closure of national borders affected the supply of essential electronic and semiconductor devices required by the aviation sector.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/microwave-devices-market-103542

Richardson Electronics to Expand its 5G Network    

Richardson Electronics focuses on expanding its 5G and wireless, test & measurement capabilities with Maury Microwave. This expansion will allow the company to propel growth and enhance its microwave devices’ business performance. Maury’s radio frequencies range from terahertz, including modeling, calibration, measurement, and interconnect technologies.

Rising Adoption of 5G Services to Bolster Market Growth 

The market is expected to grow significantly during the projected period due to increasing demand for 5G network services in various industries. Furthermore, the rising need for enhanced communication services is anticipated to drive the global market. Also, the surging demand for medical instruments equipped with microwave devices is expected to fuel the market growth in the coming years.     

Service Expansion Allows Companies to Globalize their Brands

The leading market players implement several strategies to improve their business performance. These strategies include forming strategic alliances, collaborations, and partnerships. Also, launching new products and getting recognized for these newly launched services allow key players to enhance their brand value globally.

Notable Industry Development

• February 2022: Richardson Electronics announced that it is continuously expanding 5G and wireless, test & measurement capabilities with Maury Microwave. Maury’s comprehensive solutions span frequencies from RF through terahertz and include calibration, measurement, modeling, and interconnect technologies.

List of Key Players Profiled in the Report:

• Analog Devices Inc. (U.S.)


• Communications & Power Industries LLC (U.S.)


• General Dynamics Corporation (U.S.)


• Kratos Defense & Security Solutions, Inc. (U.S.)


• L3Harris Technologies, Inc. (U.S.)


• MACOM Technology Solutions Inc. (U.S.)


• Microsemi Corporation (U.S)


• Microwave Technology, Inc. (U.K.)


• Qorvo Inc. (U.S.)


• Richardson Electronics, Ltd. (U.S.)


• Teledyne Technologies Incorporated (U.S.)


• Thales Group (France)


• TMD Technologies Ltd (U.K.)


• Toshiba Corporation (Japan)


• Cytec Corporation (U.S.)

Further Report Findings

North America held the most significant global microwave devices market share in 2021. This is attributed to the increasing adoption of advanced communication systems in aviation, defense, commercial, and industrial sectors. The regional market stood at USD 1.95 billion in 2021.

Based on type, the market is divided into active and passive. The active segment is expected to hold a dominant share in the global market due to increasing demand for these devices in telecom and networking services.

Table of Segmentation