P2P Antennas Market - Size, Share, Industry Trends, and Forecasts (2023 - 2030)

By Type :

Based on the type, the market is bifurcated into microwave antenna, flat panel antenna, and yagi antenna. The microwave antenna segment accounted for the largest revenue share of 38.46% in the year 2022. Microwave antennas are designed to obtain and transfer electromagnetic radiation with wavelengths between infrared radiation and radio waves. Microwave antennas are utilized for broadcasting microwave transmissions between two or more locations along with deployment radar, electronic warfare, and other related applications. Moreover, microwave antennas offer several benefits including higher efficiency, efficient data transmission at high frequencies, compact size, and high directivity among others. The aforementioned benefits of microwave antennas are key aspects for driving its adoption in telecommunication, military & defense, and other related applications.

According to Viavi Solutions Inc., the overall number of cities across the world with 5G deployments reached 1,947 as of January 2022, along with the addition of 635 new 5G cities in 2021. Hence, the growth of telecommunication sector is among the key factors driving the deployment of microwave antennas for utilization in telecommunication base stations and communication systems, in turn contributing to the growth of the market.

The flat panel antenna segment is anticipated to register fastest CAGR growth during the forecast period. Flat panel antennas offer multi-orbit capabilities and operate at more than one pointing angle at a time. Flat panel antennas are capable of radiating multiple beams simultaneously to direct radio waves on a static antenna. Moreover, flat panel antennas offer various features including reliable connectivity, low profile installation options, electronic steering for low maintenance, simple power-on start-up, and auto-acquisition for easy operation. The aforementioned features of flat panel antennas are the key determinants increasing its application in military & defense, telecommunication, and satellite communications among others.

For instance, in June 2023, Kymeta Corporation launched its first flat panel antenna that is specifically designed for application in marine industry to offer superior performance and reliable connectivity at sea. Hence, the rising innovations associated with flat panel antennas are anticipated to drive the market growth during the forecast period.

By Application :

Based on the application, the market is segregated into military & defense, telecommunication, satellite, and others. The telecommunication segment accounted for the largest revenue share in the year 2022. Factors including the increasing demand for wireless communication, growing penetration of 5G infrastructure, and rising need for high-speed data and internet services are driving the growth of the telecommunication sector.

For instance, according to GSM Association, most of the countries in European region deployed commercial 5G services in 2021, while approximately two thirds of regional operators launched 5G networks. GSM Association further states that 5G connections across the European region are projected to reach 311 million by the end of 2025. Therefore, the growth of telecommunication sector is driving the adoption of P2P antennas for utilization in base stations and broadcast stations among others, in turn proliferating the growth of the market.

Military & defense segment is expected to witness fastest CAGR growth during the forecast period. The growth of military & defense segment is attributed to several factors including increasing investments in military & defense vehicles along with rising production of air and maritime defense systems are key determinants for driving the growth of the military & defense segment.

For instance, in April 2022, Huntington Ingalls Industries introduced its new Block IV Virginia-class attack submarine that is primarily developed for the U.S. navy. The submarine is optimized to perform various coastal and open-water missions. The submarine is equipped with the latest technologies and offers improved maneuverability, stealth, and firepower capabilities. Thus, the rising development of military & defense systems is driving the adoption of P2P antennas for delivering superior communication capabilities and connectivity solutions for critical operations, in turn proliferating the market growth during the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of USD 1,396.12 Million in 2022 and is expected to reach USD 2,368.61 Million by 2030, registering a CAGR of 7.1% during the forecast period. In addition, in the region, the U.S. accounted for the maximum revenue share of 55.34% in the same year. The adoption of P2P antennas in the North American region is primarily driven by its usage in military & defense, telecommunication, and other sectors. Additionally, the rising utilization of P2P antennas in networking and telecommunication infrastructure including base station and broadcast stations are among the significant factors driving the market growth in the region. For instance, according to the GSM Association, the deployment of 5G connections across North America reached approximately 140 million as of 2022. Hence, the growing telecommunication industry is boosting the deployment of P2P antenna for high speed communication and data transfer applications, in turn driving market growth in the North American region.

Furthermore, factors including the increasing investments in military & defense and satellite communication systems are anticipated to foster opportunities for market growth in North America during the forecast period.

Asia-Pacific is expected to register fastest CAGR growth of 7.3% during the forecast period. The growing pace of industrialization and development is creating lucrative growth prospects for the market in the region. Additionally, factors including the growth of multiple industries such as military & defense, telecommunication, and others are driving the market growth for P2P antennas in the Asia-Pacific region.

For instance, according to Invest India, the Government of India allocated USD 70.6 billion to the Ministry of Defense as the part of its Union Budget 2022-23. The primary focus of the budget allocation to the Indian Ministry of Defense is to help in the development of new unmanned vehicles and systems, military ground vehicles, and other related systems. Hence, rising investment in military & defense sector is anticipated to drive the utilization of P2P antennas for providing superior communication and connectivity capabilities among defense systems, thereby, driving market growth in the Asia-Pacific region during the forecast period.