Global Millimeter Wave Equipment Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product Type;

Millimeter Scanners, Millimeter Radars and Satellite Communication.

By Frequency;

8GHz to 57GHz Band, 58GHz to 86GHz Band and 87GHz to 300GHz Band.

By Application;

Radars, Telecommunication, Defense, Aerospace and Consumer Electronics.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn266626552 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Millimeter Wave Equipment Market (USD Million), 2021 - 2031

In the year 2024, the Global Millimeter Wave Equipment Market was valued at USD 2,503.52 million. The size of this market is expected to increase to USD 8,487.60 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 19.1%.

The global millimeter wave equipment market has been witnessing significant growth driven by advancements in telecommunications technology and the increasing demand for high-speed data transmission. Millimeter wave technology operates within the frequency range of 30 GHz to 300 GHz, offering much higher bandwidth compared to traditional microwave frequencies. This makes it ideal for applications requiring ultra-fast data rates, such as 5G networks, high-speed backhaul links, and point-to-point communication systems.

Key drivers propelling the millimeter wave equipment market include the burgeoning demand for higher data bandwidth to support the proliferation of connected devices and the Internet of Things (IoT). As mobile network operators worldwide roll out 5G networks, millimeter wave technology plays a crucial role in enabling the promised high-speed, low-latency connectivity that is essential for emerging applications like autonomous vehicles and augmented reality. Moreover, the adoption of millimeter wave technology in sectors such as aerospace and defense for radar systems and imaging applications further contributes to market growth.

However, challenges such as propagation limitations due to atmospheric absorption and shorter range compared to lower frequency bands remain significant hurdles for widespread deployment of millimeter wave technology. Despite these challenges, ongoing research and development efforts aimed at overcoming these limitations are expected to drive innovation and expand the application scope of millimeter wave equipment across various industries in the coming years.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Frequency
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Global Millimeter Wave Equipment Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. 5G Deployment
        2. Increased Bandwidth Demand
        3. Automotive Radar Systems
        4. Defense and Security Applications
      2. Restraints
        1. Regulatory Challenges
        2. High Initial Deployment Costs
        3. Limited Range and Penetration
        4. Spectrum Availability
      3. Opportunities
        1. Emerging Applications in Consumer Electronics
        2. Expansion of IoT and Smart City Initiatives
        3. Advancements in Radar Technology
        4. Satellite Communication Growth
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Millimeter Wave Equipment Market, By Product Type, 2021 - 2031 (USD Million)
      1. Millimeter Scanners
      2. Millimeter Radars
      3. Satellite Communication
    2. Global Millimeter Wave Equipment Market, By Frequency, 2021 - 2031 (USD Million)
      1. 8GHz to 57GHz Band
      2. 58GHz to 86GHz Band
      3. 87GHz to 300GHz Band
    3. Global Millimeter Wave Equipment Market, By Application, 2021 - 2031 (USD Million)
      1. Radars
      2. Telecommunication
      3. Defense
      4. Aerospace
      5. Consumer Electronics
    4. Global Millimeter Wave Equipment Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Fujitsu Network Communications Inc.
      2. E-Band Communications
      3. Siklu Communications
      4. Bridgewave Communications
      5. Agilent Technologies
      6. Huawei
      7. Sub 10 Systems
  7. Analyst Views
  8. Future Outlook of the Market