Microwave Devices Market To Reach USD 10.1 Billion By 2027 | CAGR 6.6% — Forencis Research
Global Microwave Devices Market: Key Highlights
- According to the new market research report “Microwave Devices Market Frequency Type (Ka-band, L-band, S-band, C-band, X-band, and Ku-band), by Type (Passive Microwave Components and Active Microwave Components), by Application Type (Space, Defence, and Commercial), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Microwave Devices market is estimated to reach USD 10.1 Billion by 2027 at a CAGR of around 6.6% during the review period.
- Rising demand for miniaturization enhanced the to improve the performance as well as the operation efficiency of the is a key factor driving the demand for microwave devices market.
- However, the high cost of equipment and installation remain a major restraining factor for the growth of the microwave devices market
Global Microwave Devices Market: Key Market Dynamics
- Increased growth for communication technology enhanced the use of satellite communication as well as in the deep radio communications which are projected to boost the growth of the market in the forecast period.
- The high cost of equipment and installation materials is a challenging factor likely to hamper the market growth during the projected period.
- Highly adoption for IoT technology increased the focus towards the implementation of connected technology is anticipated to boost the market growth in upcoming years.
- Enhancing growth for the telecommunication industry is the growing popularity of the microwave devices is attributed to high bandwidth and faster data transmission rate.
Global Microwave Devices Market: Regional Overview
The microwave devices market in the Asia-Pacific region is projected to witness high demand due to the high production of aircrafts in the region. According to the International Trade Administration, China is the world’s second-largest aviation services and civil aerospace market and also one of the fastest growth in the world. As per the report published by Boeing, the Asia-Pacific will boost the demand for the commercial pilots, cabin crew and technicians. Moreover, over the next 20 years, the region accounts for more than one-third of excepted global demand or by 816,000 total new commercial aircraft. In 2018, china is the highest growth in the foreign market for the US aerospace products with the US industry which export USD 17.7 billion in product to China. Also, in 2018, the turnover reached 121 billion ton-kilometers for civil aircraft transportation. Furthermore, according to the Thomson Reuters in 2018 South Korea military expenditures reached USD 43.1 Billion.
Owing to the rapid growth of the aerospace & defense industry in Europe, the demand for microwave devices is expected to increase. According to the European Commission, strong collaboration between European aircraft organization for civil as well as for the military aviation which is key to generate growth for the organization. Also, the European Union (EU) aviation plan to meet the passenger demand for security and innovation in the air travel industry. Furthermore, according to the European aviation organization the number of aircraft ingrown by 8% between 2014 to 2017 and projected to grow 42% between 2017 to 2040. However, the increase in the growth of the aircraft market in the European region will boost the microwave device market in the forecast period.
Global Microwave Devices Market: Key Players Overview
- Teledyne Technologies Incorporated:
Teledyne Technologies Incorporated is a major provider of the electronic component, Defense electronics, data acquisition, monitoring and control instruments for industrial and subsystems for wireless and the satellite communications. The company also provides engineered systems, environment applications, supply energy generation and manufacture general aviation engines. Moreover, the company has Teledyne Microwave Solutions (TMS) from more than 50 years for design, developments, and manufacturing of microwave components. The Teledyne e2v introduced a new development in microwave devices which includes microwave products, microwave radar components, and Radio Frequency (RF) Technology.
Furthermore, in 2017 Teledyne Technologies Incorporated and e2v technologies plc declared the acquisition by Teledyne of e2v for the scheme of Arrangement. Where all the businesses within e2v are most supportive to Teledyne that will be improved to balanced engineered products such as microwave devices spanning radar to radiotherapy and mostly semiconductor.
- Thales Group:
Thales Group is a multinational company that provides services for aerospace, defense, transportation, and security. The Thales Italia provides a solution that focused on the air traffic management sector for the navigation, surveillance system and landing in the Defence sector. Moreover, in 2019 the company professional for radio frequency (RF) and microwave is supplying power amplifier components for high-frequency radio communication on U.S. Navy surface warships and submarines under USD 30.9 Million in the contract. Furthermore, in 2017 the Thales and Reliance Aero structure declared the purpose to form a joint venture with the shareholding of 49% and 51% respectively. It will help to develop the skills and activity in the special economic zone of Mihan Nagpur with the Indian supply chain for the manufacturing of microwave technologies and for the high performance airborne electronics.
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