Waveguide Market Poised to Reach USD 2.8 Billion at a 6.20% CAGR by 2030 – Report by Market Research Future (MRFR)

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The increasing demand for high-speed data transmission is driving the market growth

New York, USA, June 16, 2023 (GLOBE NEWSWIRE) — According to the Research Report published by Market Research Future (MRFR), “Waveguide Market Research Report Information By Component, By Type, By End User, and By Region – Market Forecast Till 2032”, the Solid State Lighting Market could thrive at a rate of 6.20 % between 2023 and 2032. The market size will be reaching around USD 2.8 Billion by the end of the year 2032

Waveguide market Overview Insights

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The important market factors boosting market growth include the demand for high-speed data transmission, the adoption of wireless communication systems, and the ongoing development of radar and satellite communication applications.

The waveguide market is being driven by a variety of factors, including as the growing demand for high-speed data transmission, the increased use of wireless communication systems, and the expanding range of radar and satellite communication applications.

The necessity for reliable and efficient electromagnetic wave transmission at higher frequencies is another factor driving the need for waveguides. The development of new technologies like as 5G, driverless cars, and the Internet of Things (IoT) is predicted to lead to an increase in the waveguide market. The development of sophisticated materials and manufacturing procedures also enables the creation of waveguides with improved performance and cost-effectiveness, supporting the market’s growth.

Radar technology improvements, such as software-defined radars and digital components, are what are driving the demand for military radars. Thanks to upgraded radars with Track-While-Scan (TWS) capabilities, military organisations have been able to accomplish more targets while maintaining a general awareness of the skies to aid situational attention.

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Key Companies in the Waveguide market include-

  • Penn Engineering Components
  • Jupiter Microwave Components Inc.
  • Quantic Electronics
  • Amphenol RF
  • Delta Electronics, Inc.
  • Samtec
  • Cobham Advanced Electronic Solutions
  • Ducommun Incorporated
  • ETL Systems Ltd.
  • Smiths Interconnect
  • DigiLens Inc.
  • Flann Microwave Ltd.

Report Scope:

Report Metric Details
Revenue forecast in 2030 USD 2.8 billion
Growth Rate CAGR of 6.20% from 2023 to 2030
Base Year 2022
Study Period 2023-2030
Key Market Opportunities Growing deployment of 5G telecommunication networks
Key Market Drivers The increasing demand for high-speed data transmission, the growing adoption of wireless communication systems

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TWS radars enable fighter aircraft, battleships, and armoured fighting vehicles to detect the presence of approaching missiles, enemies, and other comparable threats while tracking a specified target. Improvements in solid-state electronics, such as Gallium Nitride (GaN), have led to the introduction of a new class of Advanced Electronically Scanned Array (AESA) radars. AESA radars offer better target detection capabilities, including the ability to track many targets. Additionally, they offer a wider range and more multifunctional capabilities than vacuum-tube-based radars. These obsolete klystron and traveling-wave tube (TWT)-based radars are currently being replaced by these more modern ones due to the capabilities of an AESA radar.

Nations like China, Russia, and India are creating brand-new AESA radars for land-based, naval, and aerial systems.

For instance, the Zhuk Phazotron AE radar was created by Russia and is used by the MiG-35, an upgraded MiG-29. The Indian fleet of Jaguar fighter planes received an upgrade thanks to the new ELM-2052 AESA radars. Therefore, it is projected that the demand for military radars would boost the volume of waveguides needed to be incorporated into such systems. This is predicted to fuel the market’s growth throughout the course of the forecast period.

Segmentation

The waveguide market is divided into segments based on geography, type, end user, and component.

Adapters, couplers, loads and filters, isolators and circulators, phase shifters, power combiners, pressure windows, and other devices are included in the component-based segmentation of the waveguide market. In 2022, the phase shifters sector dominated the world market.

Rectangular waveguide, circular waveguide, single ridged waveguide, double ridged waveguide, and elliptical waveguide are among the types of waveguides that are segmented in the waveguide market. In 2022, the rectangular waveguide segment dominated the world market. This type of waveguide features a rectangular cross-section and a hollow metal tube. The electromagnetic wave is directed and the electromagnetic field is constrained by the conducting walls of the rectangular waveguide. Rectangular waveguides are used in almost all microwave applications because of their small size.

Based on end user, the waveguide market is segmented into aerospace & defence, medical, industrial, and others. In 2022, the Waveguide Market was dominated by the others segment. Construction, IT & telecommunication, consumer electronics, manufacturing, and the auto industry are all included in the others category.

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For instance, the Andaman and Nicobar Islands will be connected to India’s main landmass through a special submarine optical fibre connection that the Indian Prime Minister formally inaugurated in August 2020. By granting residents access to high-speed internet data transfer, the administration hopes to strengthen the local economy. In addition, the Waveguide market in China had the biggest market share, while the Waveguide market in India had the quickest rate of expansion in the Asia-Pacific region.

Leading market players are making significant R&D investments in order to diversify their product offerings, which will spur further expansion of the Waveguide market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration. Market participants are also engaging in a number of strategic actions to increase their global footprint.

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