Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Waveguide Components and Assemblies Market size is expected to reach $1.7 billion by 2028, rising at a market growth of 5.0% CAGR during the forecast period.
The Radio segment is showcasing a CAGR of 4.8% during (2022 - 2028). The rising growth of this segment is due to the fact that radio waves are widely used in a variety of industries, including telecommunications. The need for photonic devices along with associated waveguide components and products is expected to develop dramatically as the demand for communication and high-speed connectivity grows. The widespread adoption of 5G mobile technologies and wireless communication is driving waveguide demand in the telecom industry. Radio is used in most common wireless technologies, and distances can be very short as well as very long.
The Aviation & Defense segment acquired maximum revenue share in the Global Waveguide Components and Assemblies Market by Sector in 2021, thereby, achieving a market value of $1.3 billion by 2028. The growth of this segment is owing to the fact that the growing need for high-quality, precise, integrated, efficient, and cost-effective electromagnetic weapons for the defense and military forces has resulted from challenges, such as increased threats from terrorists as well as unconventional warfare around the world. Homeland security teams use non-lethal weaponry, like dazzlers, medium-power microwave systems, car-stopping microwave systems, and active denial devices to gain a tactical advantage. Major factors projected to fuel the growth of this segment over the forecast period include rising defense spending on new platforms and updating the existing fleet.
The Isolators & Circulators segment has shown growth rate of 6.1% during (2022 - 2028). The rapidly rising growth of this segment is attributed to the increasing utilization of isolators and circulators in a variety of industrial applications to keep magnetrons from overheating. In addition, the increasing number of applications of isolators and circulators is also a major reason contributing to the increasing demand for these products. Hence, the growth of this segment is estimated to surge in the coming years.
The North America market dominated the Global Waveguide Components and Assemblies Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $647.5 million by 2028. The Europe market is estimated to witness a CAGR of 4.6% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 5.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Northrop Grumman Corporation, Teledyne Technologies, Inc., Cobham Advanced Electronic Solutions, Eravant, Inc., SAS Industries, Inc., Quantic Electronics, Millimeter Wave Products, Inc., ETL Systems, M2 Global Technology, Ltd., and Ducommun Incorporated.
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