LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global aerospace microwave devices market to post a CAGR of close to 8% during the forecast period. However, the growth momentum of the market is expected to decelerate in its year-on-year growth.
Technavio research analysts highlight the growing popularity of AM as a key emerging trend that will impact market growth. AM is often referred to as three-dimensional (3D) printing as it works as a laser printer. In AM, objects of any shape or geometry are produced using digital model data from a 3D model or electronic data sources like Additive Manufacturing File. Thus, unlike conventional machining process where the material is removed from stock, AM builds a 3D object from computer-aided design (CAD) model or AMF file by successively adding material layer by layer.
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In this report, Technavio analysts highlight the development of advanced cost-effective solutions to meet the needs of the military as a key factor contributing to the growth of the global aerospace microwave devices market:
Advanced cost-effective solutions to meet the needs of the military
Vendors in the aviation field are focused on developing small size, lightweight advanced receivers, and transmitters for military applications. These receivers will be able to identify and respond to signals effectively. There is high demand for developing prototypes to significantly limit the obsolescence of components with new solutions that can be updated via software.
According to a senior analyst at Technavio for aerospace research, “Radar systems, open system architecture, along with the command, control, communication, computers, intelligence, surveillance, and reconnaissance systems based on AESA technology are some of the cost-effective solutions used by armed forces across the world.”
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Global aerospace microwave devices market - segmentation and analysis
This market research report segments the global aerospace microwave devices market based on application (commercial aviation and military aviation) and by key regions (the Americas, APAC, and EMEA).
Based on geography, the Americas dominated the market accounting for more than 48% of the market share in 2017. The Americas was followed by EMEA and APAC. Although APAC holds the smallest share of the market, the region is expected to exhibit the fastest growth rate in the market led by strong demand and expansion of passenger traffic, airport services, and related ongoing agreements.
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