Microwave Equipment Market by Type (Generators, Amplifiers, Antennas, Waveguides and Components, Filters, and Others), by Frequency Band (Ultra-High Frequency (UHF), Super-High Frequency (SHF), and Extremely High Frequency (EHF)), and by Application (Telecommunications & Wireless Communication, Radar Systems, Microwave Heating & Cooking, Medical Imaging & Diagnostics, Industrial Processing, and Scientific Research & Laboratory Equipment), by End-User (Telecommunications, Aerospace & Defense, Consumer Electronics, Healthcare & Medical Devices, Food & Beverage Processing, Automotive and Transportation, and Manufacturing & Industrial) – Global Opportunity Analysis and Industry Forecast – 2024-2030

Market Definition

The Microwave Equipment Market size was valued at USD 6.76 billion in 2023 and is predicted to reach USD 9.95 billion by 2030 with a CAGR of 5.7% from 2024-2030. Microwave equipment includes a diverse array of devices and systems operating within the microwave frequency spectrum, from 1 GHz to 300 GHz. It serves telecommunications needs by facilitating wireless communication over long distances, supporting applications such as satellite communication and cellular networks. This technology plays a crucial role in radar systems for military defense, air traffic control, and weather monitoring. Its versatility extends to industrial applications such as microwave ovens for cooking and drying, as well as industrial heating systems for materials processing. In the medical field, microwave imaging aids in non-invasive diagnostics, including breast cancer detection and brain imaging. Scientific research benefits from microwave equipment for experiments in physics, chemistry, and materials science. The key advantages of microwave technology include high-speed communication, precise control over heating and processing, energy efficiency, non-destructive testing capabilities, and versatility across industries, making it indispensable in modern technology and scientific advancements.

Market Dynamics and Trends

The increasing adoption of microwave equipment in the military & defense sectors is driving the expansion of the microwave equipment market. According to the U.S. Department of Defense, it invested USD 1 billion a year for the development of laser beam and microwave energy weapons for military applications. As defense budgets increase globally and the nature of modern warfare relies increasingly on advanced technology, the demand for cutting-edge microwave equipment in military applications continues to be a key driving force for the industry's growth.

Also, the surge in the microwave equipment market is driven by the rising adoption of wireless communication and the expansion of 5G networks in the IT and telecom sectors. For instance, in October 2023, Ericsson adopted microwave technology, focusing on the E-band spectrum, to address 5G backhaul capacity needs. This highlights the industry's commitment to enhancing wireless backhaul performance, reflecting the market's agility in meeting evolving communication demands and signaling increased demand for E-band solutions.

Moreover, the rising demand for medical imaging systems and scientific instrumentation reliant on microwave technology contributes to the demand for specialized equipment in healthcare and research sectors. 
However, the presence of competitive alternative technologies such as fiber-optic networks, satellite communication, and emerging wireless technologies such as mmWave and Li-Fi is restraining the growth of the market. On the contrary, the adoption of Industry 4.0 practices and IoT technologies in manufacturing, logistics, and utilities sectors increases the demand for microwave sensors, communication systems, and automation solutions, presenting growth opportunities for microwave equipment suppliers.  

Market Segmentations and Scope of the Study

The microwave equipment market share is segmented on the basis of type, frequency band, application, end user, and region. On the basis of type, the market is divided into generators, amplifiers, antennas, waveguides and components, filters, and others. Based on frequency band, the market is segmented into ultra-high frequency (UHF), super-high frequency (SHF), and extremely high frequency (EHF). On the basis of application, the market is classified into telecommunications & wireless communication, radar systems, microwave heating & cooking, medical imaging & diagnostics, industrial processing, and scientific research & laboratory equipment. On the basis of end user, the market is bifurcated into telecommunications, aerospace & defense, consumer electronics, healthcare & medical devices, food & beverage processing, automotive and transportation, and manufacturing & industrial. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW. 

Geographical Analysis

Asia-Pacific holds the dominating share in microwave equipment market and is expected to continue its dominance during the forecast period. This is attributed to the ongoing expansion of telecommunications networks, notably the widespread deployment of 5G technology in countries such as China, India, Japan, South Korea, and others. As of 2023, China's deployment of over 2.73 million 5G base stations, accounting for 24.5% of all mobile base stations, underscores its proactive adoption of 5G technology. This bolster sustained demand for microwave equipment, solidifying the region's leadership in the market.

Moreover, the growing government initiatives focused on space program in the emerging countries including China, India, Indonesia and others are fueling the demand for microwave equipment market. In January 2022, the China National Space Administration (CNSA) launched a satellite dedicated to microwave remote sensing, bolstering earth observation capabilities and driving demand for advanced microwave equipment. This initiative aligns with global efforts to enhance telecom infrastructure, reflecting a broader trend towards innovation and efficiency across industries.

On the other hand, North America is expected to show a steady rise in microwave equipment market due to the growing defense and aerospace industry in the U.S. and Canada. For instance, Ametek acquired NSI-MI Technologies, a leading provider of antenna measurement systems and services. This strategic move further strengthens Ametek's position in the aerospace and defense markets and is anticipated to contribute approximately USD 90 million in annual sales.

In addition, the growing collaboration among the prominent space agencies to further observe the space is driving the demand for the microwave industry. In 2023, the U.S.space agency collaborated with India’s ISRO to launch a shared microwave satellite for earth observation purposes. This joint initiative underscores the partnership between the two nations in advancing satellite technology for enhanced observation of the Earth.

Competitive Landscape

The microwave equipment market comprising of various key player such as Radwin, Cambium Networks, Nokia Networks, Huawei Technology Co., Ltd., NEC Corporation, Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., ZTE Corporation, Dragonwave-X, Keysight Technologies Inc., and others. These microwave equipment market players are adopting various strategies such as product launches to maintain their dominance in the global microwave equipment microwave equipment market.

For instance, in February 2023, ZTE launched all-scenario unisite solution and product series (MWS 2023), aiming to enhance 5G network capabilities and provide comprehensive coverage across various scenarios. The launch signifies a strategic move to meet the increasing demand for robust and versatile microwave equipment solutions in the evolving telecommunications landscape.

Also, in February 2023, Nokia launched new wavence microwave solutions, aiming to expand 5G reach in urban and rural areas. The innovation enhances connectivity and infrastructure for microwave equipment in advancing 5G deployments.
Moreover, in March 2023, Huawei launched magicwave 5G baseband unit mobile world congress (MWC) 2023 Barcelona, featuring advanced capabilities and halving the size of baseband units. This innovation is poised to enhance the efficiency and performance of Microwave Equipment in 5G networks.

KEY BENEFITS

• The report provides quantitative analysis and estimations of the microwave equipment market from 2024 to 2030, which assists in identifying the prevailing microwave equipment market opportunities.

• The study comprises a deep dive analysis of the microwave equipment market including the current and future trends to depict prevalent investment pockets in the microwave equipment market.

• Information related to key drivers, restraints, and opportunities and their impact on the microwave equipment market is provided in the report. 

• Competitive analysis of the players, along with their microwave equipment market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the microwave equipment market study provides a clear picture of roles of stakeholders.

KEY MARKET SEGMENTS

By Type

• Generators

• Amplifiers

• Antennas

• Waveguides and Components

• Filters

• Others 

By Frequency Band

• Ultra-High Frequency (UHF)

• Super-High Frequency (SHF)

• Extremely High Frequency (EHF)

By Application

• Telecommunications & Wireless Communication

• Radar Systems

• Microwave Heating & Cooking

• Medical Imaging & Diagnostics

• Industrial Processing

• Scientific Research & Laboratory Equipment

By End User

• Telecommunications

• Aerospace & Defense

• Consumer Electronics

• Healthcare & Medical Devices

• Food & Beverage Processing

• Automotive and Transportation

• Manufacturing & Industrial 

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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