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Burgeoning Global Defense Expenditure to Offer Function Generators US$ 2.4 Bn Market Opportunity by 2032

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News provided by

Fact.MR

15 Jun, 2022, 15:00 GMT

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Sales of Function Generators to Increase by 1.6x by 2032; U.S. to Vanguard the Sales

Fact.MR's recent analysis on the function generators market provides a comprehensive outlook of challenges, opportunities, latest trends, and growth drivers prevailing in the industry. In addition, the report delivers compelling insights into segments of the market in terms of type, current, and end user across five regions.

NEW YORK, June 15, 2022 /PRNewswire/ -- The global function generators market size is poised to expand at a CAGR of 4.6% over the forecast period of 2022 and 2032. Increasing investments in the automotive sector, especially for the development of electric vehicles are anticipated to bode well for the global market.

Concerns regarding the harmful effects of emissions on the environment is increasing across aerospace and defense industries. This is encouraging the leading industry players to adopt power-efficient and high-performance devices such as function generators.

As per Fact.MR, the global function generators market is set to reach US$ 1.53 Bn in 2022 and exceed US$ 2.4 Bn by 2032. Growth is attributed to the introduction of new targets to deploy green energy technologies, such as solar, wind, and hydro, in emerging economies.

Moreover, increasing demand for military equipment coupled with rising investment by government bodies for modernization of defense capabilities is expected to propel demand. Growing security concerns and uncertainties of the international security environment will also boost the market.

For Critical Insights on this Market, Get A Sample Report!
https://www.factmr.com/connectus/sample?flag=S&rep_id=7342

As per the Stockholm International Peace Research Institute (SIPRI), in 2021, the U.S. military spending was US$ 801 Bn, whereas funding for military research and development in the country surged by 24% between 2012 and 2021. The trend is projected to continue throughout the forthcoming years, thereby pushing sales of function generators.

In addition to that, demand for up to 50 MHz function generators is likely to grow at a rapid pace stoked by their increasing utilization in the wireless communication & infrastructure, energy, and automotive industries. Automotive in-car entertainment, such as head units and speakers also require function generators with an output frequency of up-to 50 MHz.

Key Takeaways:

  • By end user, the aerospace, defense, and government services segment is anticipated to record considerable growth at a CAGR of 5.4% in 2032.
  • Based on current, sales of up to 50 MHz function generators are likely to surge by 2032 and exhibit a CAGR of 5.6%.
  • The U.S. function generators market is estimated to be valued at US$ 852.1 Mn by the end 2032 and showcase growth at a CAGR of 4.3%.
  • Sales of function generators in China are set to reach US$ 177.6 Mn by 2032, increasing at a CAGR of 4.2% in the forecast period.
  • South Korea and Japan are expected to reach US$ 100.8 Mn and US$ 161.8 Mn, respectively, in Asia Pacific function generators market.

Growth Drivers:

  • Increasing usage of function generators in the energy sector for testing metering devices and solar photovoltaic (PV) inverters is projected to drive the market.
  • High demand for power on the back of emergence of new-generation distribution and transmission networks is expected to bolster growth.

Restraints:

  • As function generators are not considered to be ideal for those applications requiring stable frequency signals and low distortion, their demand may decline in future.
  • Cost of function generators is very high as these require USB ports, breadboard, variable & fixed power supply, and oscilloscopes.

Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7342

Competitive Landscape:

Leading players in the global function generators market are increasingly focusing on mergers and acquisitions with domestic and start-up companies to conduct exhaustive research and development activities, as well as come up with innovative products for customers.

Meanwhile, a few other companies are focusing on partnerships and collaborations with international players to expand their business networks. A few of the key players are also engaging in new product launches to broaden their portfolios and strengthen their positions in the global market.

For instance,

  • In June 2022, VIGORPOOL, a provider of green energy solutions headquartered in New York, announced the launch of Captain 1200, its new flagship product. The product supports a parallel function and enables users to double the capacity to 2560Wh by connecting two units. Also, it consists of a dual fast charging function, thereby allowing it to charge in just 1.5 hours.
  • In September 2021, Tabor Electronics, a prominent provider of high-end signal source solutions based in Israel, launched its latest Arbitrary Waveform Generators/Transceivers series. The series includes advanced capabilities and a built-in IQ modulator for generating multi-channel RF signals.

Key Companies Profiled by Fact.MR

  • Teledyne Technologies
  • Rigol
  • Tektronix
  • Teradyne
  • Kikusui Electronics

More Valuable Insights on Function Generators Market

In the latest study, Fact.MR offers a detailed study on global function generators market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of function generators through detailed segmentation as follows:

By Type:

  • Analog Function Generators
  • Digital Function Generators

By Current:

  • Up to 50 MHz Function Generators
  • 50-100 MHz Function Generators
  • Above 100 MHz Function Generators

By End User:

  • Automotive
  • Energy
  • Wireless Communication and Infrastructure
  • Aerospace, Defense, & Government Services
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa

Request Methodology & Get a Glimpse of Our Expertise
https://www.factmr.com/connectus/sample?flag=RM&rep_id=7342

Key Questions Covered in the Function Generators Market Report

  • What is the projected value of the function generators market in 2022?
  • At what rate will the global function generators market grow until 2032?
  • Which are the factors hampering the growth in the function generators market?
  • Which region is expected to lead in the global function generators market during 2022-2032?
  • Which are the factors driving the function generators market during the forecast period?
  • What is the expected market value of the function generators market during the forecast period?

Explore Fact.MR's Coverage on the Industrial Goods Domain

Generator Market: Increasing cases of power outages across the globe is one of the major factors that is expected to boost the global generator market in future. High demand for diesel generators backed by their rising adoption in oil & gas, IT, healthcare, mining, and telecom industries is also anticipated to bode well for the global market.

Portable Generators Market: As per Fact.MR, the global portable generators market is likely to grow 1.8x and reach US$ 1.5 Bn during the forecast period (2021 to 2031). Increasing demand for backup power amid power outages is projected to push sales of portable generators in future years.

Portable Inverter Generator Market: Fact.MR mentions that the global portable inverter generator market size is expected to surpass USD 7.7 Bn in the forecast period from 2022 to 2032 and exhibit a CAGR of 9.7% by 2032. Minimal noise & vibration levels, high quality outputs, and ease of carrying are anticipated to propel the demand for portable inverter generators over conventional generators.

Electric Generators Market: The electric generators market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. 

Wind Turbine Generator Market: According to the latest analysis by Fact.MR, a market research and competitive intelligence provider, utilization of wind turbine generators witnessed a growth rate of 15.1% over the past half-decade. This was due to increasing demand from the end-use industry owing to favorable government regulations.

Diesel Generators Market: The global diesel generator market is anticipated to witness a considerable growth rate, run by the shortage of reliable grid infrastructure, particularly in developing economies. The demand in European countries is also gaining pace at a robust rate.

Mobile Generators Market: In the past few years, the demand for mobile generators has increased considerably and is likely to grow in the coming years. Owing to increase in the need of power backup facility in commercial, residential and industrial sectors. The demand for mobile generators is also fueled by the inclining consumer preferences.

Gas Generator Market: The global gas generator market is anticipated to witness a gradual growth rate over the forecast period, prominently supported by shortage of reliable grid infrastructure, particularly in developing economies. Rapid industrialization is one of the key growth driving factors that has fueled the demand for global gas generator market.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

Contact: 
Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg

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