Microwave Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Microwave Devices Market has registered a CAGR of 3.23% over the forecast period 2021 - 2026. According to the Satellite Industry Association, in 2018, the global satellite navigation equipment industry generated about USD 93.3 billion in revenue while in 2016, it was USD 84.6 billion. In response to increasing satellite navigation equipment industry, the microwave devices market will also increase.

• Moreover, in 2018, there was a total of 88 satellites launched, an increase from the 85 satellites launched in 2016. The increasing launch of satellites is promoting the use of microwave devices, such as frequency emitting towers and satellites, for sending and receiving data signals.
• For instance, in April 2018, the Sentinel-3B satellite, built by Thales Alenia Space for the European Space Agency (ESA), was successfully launched and orbited. This satellite is featured with SRAL (Synthetic-aperture Radar ALtimeter), and MWR (Microwave Radiometer), which provides measurements to determine the topography of oceans, sea ice and bodies of water on land. This would help to improve oceanographic and atmospheric forecasts.
• Further, growing customer base owing to increasing focus towards implementation of connected technology such as IoT is anticipated to boost the market growth in upcoming years as well. This growth is characterized by optimum performance, in terms of low signal loss and high-frequency range.
• However, high production cost, and research and development expenses to improve technology are few factors which is reatraing the market to grow during the forecast period.

Scope of the Report

Microwaves devices are most widely used in satellite communications, radar signals, phones, and navigational applications. These devices are also used in cancer detection and ablation of tissue & cornea, due to their optimum surface penetration. The microwave devices industry is divided into regions such as North America, Europe, and Asia-Pacific. North America has shown major growth in recent years

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Key Market Trends

Space Exploration Offers Potential Growth

• Space exploration has evolved from shuttle missions and trips to the International Space Station to unmanned missions to Mars and the possibility of space tourism. In response to such evolution of space exploration where spacecraft’s tracking and communications systems are the only means with which to interact, microwaves are suitable for wireless transmission of signals of having larger bandwidth.
• Further, NASA announced plans to put the first woman on the moon in 2024 as part of the Artemis program and the program also aims to put human beings on the surface of Mars by the 2030s. 
• Hence, it has led to the Deep Space Optical Communications project, led by NASA's Jet Propulsion Laboratory. This aims to develop laser communications to boost connectivity speeds for future human exploration of the solar system. In response to this, Jet Propulsion Laboratory is working on technologies for the implementation of a deep-space optical transceiver and ground receiver that will enable data rates greater than 10 times the current state-of-the-art deep-space RF system (Ka-band, a type of microwave ) for a spacecraft with similar mass and power. 
• Such space projects are expected to have a positive outlook on the market and it is expected that will provide an immense opportunity in the space exploration.

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