Monolithic Microwave IC Market size is slated to proliferate commendably between 2021 and 2027, given the usage advantages of MMICs at high frequencies as compared to their hybrid counterparts. Likewise, increasing preference for use in aerospace electronics applications due to high reliability, accuracy, component density, and low costs, among other benefits, will also augment industry growth in the coming years. A monolithic microwave circuit refers to an integrated circuit where a microwave functional circuit is fabricated on chips made of semiconductor materials like gallium arsenide. GaAs semiconductor is more suitable than silicon for making the circuit owing to its high resistivity and other attributes. This circuit design mainly revolves around the generation, control, amplification, and information processing functions of microwave signals.
Rise of wireless communication technologies and the significant rollout of 5G networks are some of the key trends bolstering the monolithic microwave IC market trends over 2021-2027. In June 2021, Microchip Technology Inc. unveiled its GMICP2731-10 GaN MMICGaN MMIC designed for 5G networks, aerospace, and other applications. This new MMIC was developed to help satellite communication systems deliver high RF output and ensure that the signal retains the desired characteristics. Furthermore, an increase in military and defense spending could generate opportunities for market growth, as the monolithic microwave IC design is used extensively in fighter jets, missile guidance systems, electronic warfare countermeasures, and radar applications.
Automotive is projected to emerge as a prominent application segment in the monolithic microwave IC market by 2027, which is attributable to the rapid device adoption in ADAS applications. Automotive radar MMICs are capable of supporting safety-critical applications like automatic emergency braking and driver assistance, thus driving the need for these circuits in automotive vehicles.
Europe monolithic microwave IC market will depict a strong growth rate through 2027 impelled by the escalating number of MMIC projects targeted towards space technology. The Kassiopeia project, for example, led by Ferdinand-Braun-Institut in Germany and funded by the ESA (European Space Agency), was launched to develop Ka-band GaN (gallium nitride) MMICs. This project was designed for potential applications in radar and satellite technology, along with aims to deliver an independent value-added supply chain. Moreover, the high emphasis of the telecom companies on the expansion of the 5G networks will also stimulate the demand for monolithic microwave integrated circuit devices in the region.
Key players in the market include Microarray Technologies, WIN Semiconductors, Infineon Technologies AG, United Monolithic Semiconductors, Maxim Integrated (Analog Devices), and NXP Semiconductors. These companies are implementing varied strategies such as new product launches, mergers, and acquisitions to reinforce their presence and expand business across the global market.
The novel COVID-19 pandemic has created havoc in every sector of the economy, including aerospace and defense. The aerospace sector was severely impacted, especially during the initial months of the pandemic, owing to the downturn in commercial aviation and the decline in passenger volume. This disruption also spans across the defense supply chain, which could create a hindrance to the monolithic microwave IC industry outlook, as the aerospace and defense sector is a significant end-user of MMICs.
However, accelerating digital transformation and greater interest in 5G as well as other innovative technologies amid the crisis may aid industry recovery over the forthcoming years. As per the EY Reimagining Industry Futures Study 2021, around 71% of global enterprises believe that the pandemic has accelerated digital transformation, with 52% of the enterprises showing increasing interest in IoT and 5G networks.
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