The global metamaterials market is projected to grow at a significant CAGR during the forecast period. Metamaterials based components find a number of applications in the aerospace and defense industry such as in aircraft, space vehicles, and satellites using advanced technology, where size and weight reduction are a must. Metamaterials are used to obtain reciprocity, weight reduction, high switching rate, miniaturization and reliability. As a result, it has a significant role in aerospace and defense applications. The increasing joint ventures between companies for military vehicles are encouraging the demand for advanced metamaterials based components. Thales and Reliance Defence Ltd. announced the joint venture to develop the electronic warfare sensors and radars in June 2017.
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The key players in the market include Acentech Inc., AEgis Technologies Group, Echodyne Corp., Fractal Antenna Systems, Inc., JEM Engineering, LLC, Kymeta Corporation among others.
Furthermore, Rheinmetall AG and BAE systems jointly developed UK-based support business, military vehicle design, and production business support in January 2019. Apart from managing and growing the current support business for combat vehicle, the joint venture intends to play a crucial role in the delivery of the new Mechanised Infantry Vehicle (MIV) of British Army and other strategic combat vehicles programmes. These rising joint ventures for military vehicles support in encouraging the installation of advanced instruments to achieve vital objectives, such as communications, and command and control. As a result, this is primarily supporting the growth of the aerospace and defense industry that further propels the demand of metamaterials.
Growing demand in the Telecom sector spur the metamaterials market
The telecommunication industry has a significant application of metamaterials in antenna and wireless communication systems that contribute to market growth. IT & Telecom sector involves the use of RF routers and switchers. The RF switch assembly interconnects the antenna suite with the redundant travelling-wave tube amplifier (TWTAs) and the rest of the communications system. These advances in RF routing capabilities is supporting to enhance communication across industries. Significant rise in internet penetration coupled with a focus on enhanced communication capabilities is leveraging the growth of the market. Moreover, the growing electronics industry in emerging economies such as China, India and others further provide substantial opportunity in the meta metamaterials market.
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AS per the International Trade Union Federation (ITUF) China will be one of the largest producers of the world’s electronic components and products and across the globe. The abundance of economic labor has made the country an attractive destination for investment considering the low-cost labor, improved infrastructure and so forth. As a result, the manufactured products represent a considerable share of the country’s trade. China exports and assembled various electronics and electrical parts and components into finished products. Owing to these facts, the country is expected to share the significant market share of metamaterials used in electronics industry.
Global Metamaterials Market Segmentation
Antenna & Radar
Light & Sound Filtering
Aerospace & Defense
Metamaterials Market – Segment by Region
Rest of Europe
Rest of Asia-Pacific
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