Monolithic Microwave IC Market Road to $17.0 Billion in 2027
The global Monolithic Microwave IC (MMIC) Market has experienced significant growth. The market had a value of USD 9.7 billion in 2022 and is expected to grow at a rate of USD 17.0 billion by 2027. During the predicted period, which runs from 2022 to 2027, this tremendous expansion is characterised by a Compound Annual Growth Rate (CAGR) of 11.9%. The rising need for parts like power amplifiers, Low-Noise Amplifiers (LNA), and switches across numerous applications, including automotive and aerospace and defence (A&D), is fueling the expansion of the MMIC market. Additionally, the market is expanding rapidly as a result of improvements in material types like Gallium Arsenide (GaAs), Indium Phosphide (InP), and Gallium Nitride (GaN), as well as developing technologies like Metal-Semiconductor Field-Effect Transistor (MESFET) and High Electron Mobility Transistor (HEMT). The importance of MMIC technology in allowing novel and high-frequency applications across several industries i