The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global microwave devices market is estimated to reach USD 11.86 billion by 2024, according to a new study by Grand View Research, Inc. The increasing demand from military and defense industry is expected to drive the market growth over the forecast period. Radar systems use these devices for navigation and air surveillance.
Technological proliferations, in the medical industry, are anticipated to enable the use of advanced technologies such as microwave ablation. This technology uses a microwave, which is focused on the infected tissue and heated, to avoid excess nerve damage. Furthermore, these devices are also used to remove unwanted tissue mass such as a tumor. They are widely used in medical applications, owing to their short wavelengths, which reduce excessive surface penetration, and ability to allow precise ablations. The devices are mainly used in treating diseases such as skin cancers, uterine fibroids, and corneal ablation.
The growing usage of mobile phones, mainly in the emerging economies, is enabling the use of microwave devices, owing to their high frequencies that allow data transmission over long distances. Advancements in healthcare facilities are expected to further improve the market growth in these regions, due to increased production of low-cost and affordable medical devices. The North American region has developed medical infrastructure and the latest technologies for facilitating extensive use of these devices.
Further Key findings from the study suggest:
The increased implementation of C-band in weather radar systems, Wi-Fi, and satellite communication is anticipated to drive the market growth. This growth is characterized by optimum performance, in terms of low signal loss and high frequency range.
The increasing need for Unmanned Ariel Vehicles (UAV) for collecting ground information and radar systems for navigation are anticipated to increase the demand for microwave devices
The medical segment is the fastest-growing application segment and is expected to witness a significant growth with a CAGR of 6% over the forecast period
Technological advancements, in cancer detecting imaging systems, depend on these devices for advanced diagnostics and treatment
The increasing usage of mobile handsets is promoting the use of microwave devices, such as frequency emitting towers and satellites, for sending and receiving data signals
The spending on healthcare services in the APAC region is growing, owing to the aging population that requires and demands cost-effective medical facilities, increasing the demand for microwave products such as imaging systems.
The key industry participants include Communications & Power Industries LLC, Cytec Corporation, e2V, L-3 Communication systems, MicroWave Technology, Inc., RFMD, Richardson Electronics, Ltd., Teledyne Technologies, Inc., Thales Group, TMD Technologies Ltd., and Toshiba Corporation, among others