The global function generator market is expected to secure a market value of US$ 2.4 Billion while exhibiting a CAGR of 4.6% during the forecast period from 2022- to 2032. The market is projected to have exhibited a Y-o-Y growth rate of 6.25% from 2021- to 2022. Expansion of the market can be attributed to the increasing adoption of high-performing devices for aerospace and defense and government services. Rising initiatives in R&D activities by various end-user sectors like automotive, aerospace, and defense sectors have been projected to influence the market positively.
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Rapid development and modernization of military gadgets Boosts The Market
Rapid development and modernization of military gadgets across various countries, which majorly includes, electrification of weapon and communication systems, is expected to play a significant role in enhancing the market size during the forecast period. Also, the emergence of AI in aerospace and the growing implementation of favorable policies by the government of various nations is projected to offer remunerative opportunities to the industry during the assessment period.
On the contrary, high costs associated with the function generators are expected to hamper the market growth in the forecast period. Also, these generators demand large space, which can limit their adoption. However, increasing demand for function generators in the energy sector and the automotive sector is expected to act as a significant counter and instead propel market growth.
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Key Segments Covered in the Global Function Generators Market
· Global Function Generators Market by Type :
- Analog Function Generators
- Digital Function Generators
· Global Function Generators Market by Current :
- Up to 50 MHz Function Generators
- 50-100 MHz Function Generators
- Above 100 MHz Function Generators
· Global Function Generators Market by End User :
- Wireless Communication and Infrastructure
- Aerospace, Defense, & Government Services
· Global Function Generators Market by Region :
- Function Generators in North America
- Function Generators in Europe
- Function Generators in Asia Pacific
- Function Generators in South America
- Function Generators in Middle East & Africa
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Key Takeaways from the Market Study
- The aerospace, defense, and government services segment, by end-user, to exhibit a CAGR of 5.4% during the forecast period
- The U.S market to value US$ 852.1 Million by 2032
- Market in China to exhibit a CAGR of 4.2% during the forecast period
- Japanese market to augment at a growth rate of 4.5% in the forecast period
- Based on the current, the Up to 50 MHz is expected to record a CAGR of 5.6% during the forecast period
- Market in the U.K to hold a value of US$ 103.4 Million in the assessment period
“Rapid development in the aerospace and defense sector of various countries is expected to augment the market in the forecast period. The automotive sector is projected to be another lucrative sector, boosting the industry in the forthcoming period.”
Key players in the global function generator market include Teledyne Technologies, Rigol, Tektronix, Teradyne, and Kikusui Electronics. Recent key developments in the market are:
- In January 2020, GW Instek revealed a new series of multi-channel function generators. GW Instek has augmented the MFG-2220 HM which gives the highest frequency range of dual-channel signal generators.
- In February 2021, Tabor Electronics disclosed the introduction of RF Arbitrary Waveform Generator to the Proteus series product line. The series offers the efficiency of direct digital RF generators and meets a significant aim in the aerospace sector.
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Fact.MR, in its new offering, presents an unbiased analysis of the global function generator market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Analog Function Generator, Digital Function Generator), by Current (Up to 50 MHz, 50-100 MHz, Above 100 MHz), End User (Automotive Function Generator, Energy Function Generator, Wireless Communication and Infrastructure Function Generator, Aerospace, Defense, & Government Services Function Generator, Others) & Region (North America, Latin America, Asia Pacific, Europe and Middle East & Africa).
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