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The microwave devices market is projected to grow at a CAGR of 6.24% from 2017 to 2022
The microwave devices market is estimated at USD 6.07 billion in 2017 and is projected to reach USD 8.22 billion by 2022, at a CAGR of 6.24% from 2017 to 2022. Increase in demand for miniaturized microwave devices and increase in defense expenditure on intelligence, surveillance, reconnaissance, and target acquisition systems are expected to offer several growth opportunities for stakeholders of the microwave devices market. This, combined with increasing R&D activities for the development of microwave devices is expected to propel the growth of the microwave devices market across the globe during the forecast period from 2017 to 2022. However, the replacement of Traveling Wave Tubes (TWTs) by solid-state microwave devices and proven capability and fidelity of legacy systems are some of the factors restraining the growth of the microwave devices market across the globe.
Based on type, the active microwave devices segment is estimated to account for the largest share of the microwave devices market in 2017
Based on type, the active microwave devices is estimated to account for the largest share of the microwave devices market in 2017. The growth of this segment can be attributed to increase in usage of Travelling Wave Tube Amplifiers (TWTA) and solid-state microwave devices in defense manufacture of various electronic products such as radars, missiles, and jammers, among others. Other usage includes rise in usage of TWTA in the medical industry.
Asia Pacific is projected to grow at the highest CAGR during the forecast period The Asia Pacific microwave devices market is projected to grow at the highest CAGR of 7.35% during the forecast period. It is expected to be followed by the North America microwave devices market, which is projected to grow at a CAGR of 6.43% from 2017 to 2022. Increasing demand for space programs and increase in defense spending acts as an opportunity for the growth of microwave devices market in the Asia Pacific region.
Break-up of profiles of primary participants for this report:
- By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
- By Designation: C Level – 75%, Manager Level – 25%
- By Region: Asia Pacific - 45%, Europe – 30%, North America – 20%, and RoW –5%
The leading players in the microwave devices market are Analog Devices (US), L3 Technologies (US), Teledyne Technologies (US), Thales (France), Qorvo (US), CPI International (US), and General Dynamics (US), among others.
The microwave devices market has been segmented based on type (active microwave devices and passive microwave devices), by frequency (L-band, C-band, S-band, X-band, Ka-band, Ku-band and others), by application (space & communication, defense, and commercial). The microwave devices market has been studied for North America, Europe, Asia Pacific, and Rest of the World (RoW). The report provides an in-depth market intelligence regarding market dynamics and major factors such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the microwave devices market. It also analyzes micro-markets with respect to individual growth trends, future prospects, and their contribution to the microwave devices market.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses ? industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the microwave devices market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on microwave devices offered by the top players operating in the microwave devices market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the microwave devices market.
- Market Development: Comprehensive information about the emerging markets – the report analyzes the markets for microwave devices across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the microwave devices market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the microwave devices market.