The market for metamaterials is anticipated to register a CAGR of over 24% during the forecast period (2022-2027).
The impact of the Covid pandemic on the market was negligible and the market has been growing at a healthy rate in the past few years.
- One of the major factors driving the use of metamaterials is increasing R&D activities for various applications in the aerospace and defense, telecommunication, and consumer electronics end-user industries, among others.
- Among the applications of metamaterials, the antenna and radar segment is estimated to occupy the largest share.
- Among the end-user industries, the aerospace and defense segment is estimated to account for the largest share.
- North America dominated the market across the world, with the largest consumption in 2020.
Key Market Trends
Increase in Usage of Antennas for Communication
- Antenna is one of the most important applications of metamaterials. The unique property of metamaterials is used to improve the performance characteristics of the antenna.
- Metamaterial coatings have been applied to improve the radiation and have and coordinating properties of electrically little electric and attractive dipole reception apparatuses. These antennas originate 95% of information radio sign at 350 MHz. Patch reception devices with metamaterial spread have expanded directivity.
- Metamaterial Surface Antenna Technology (MSA-T) is another different class of reception apparatus innovation. It can electronically control a radiofrequency bar, rapidly and unequivocally over wide points, without the requirement for moving parts or costly stage moving segments.
- Metamaterials can improve the addition and decrease the arrival loss of a patch radio wire. The first metamaterial-based absorber utilizes three layers, of which two are metallic layers, and one is a dielectric layer, which provides simulated absorptivity of 99% at 11.48 GHz.
- Owing to the above-mentioned factors, the demand for metamaterials in antennas is expected to grow during the forecast timeframe.
Asia-Pacific Region to be the Fastest growing Market
- Although North America dominates the global market, followed by Europe, Asia-Pacific is the fastest-growing market and is expected to overtake North America by 2024.
- This growth is majorly due to the increasing investments in the Asian countries' respective defense sectors.
- In countries, like China, India, South Korea, Pakistan, etc., governments have been increasing the national defense budget regularly.
- China’s recent increase in defense spending sends a clear signal that the country remains committed to completing the modernization of the People’s Liberation Army (PLA) by 2035 and transforming the PLA into a “world-class” military by 2049, thus creating opportunities in the military technology sector.
- As the number of digital cellular subscribers is witnessing high growth in China, service providers are increasingly concerned with the limited capacities of the existing infrastructure. This has resulted in more deployments of smart antenna systems in China.
- China is expected to strengthen its position among the leading consumers of metamaterials, worldwide, over the forecast period.
The metamaterial market is partially fragmented, with no player having a significant share to influence the market. Kymeta Corporation, Metamaterial Technologies Inc., NKT Photonics, Echodyne Corp., and TeraView Ltd, among others, are some of the prominent players (in no particular order) present in the market.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
1.2 Scope of the Study
4.1.1 Increasing Demand from the Aerospace and Defense Industry
4.1.2 Increasing Usage of Antennas for Communication
4.1.3 Growing Demand for Wireless Mobile Communication
4.2.1 Cost of Synthesization of Metamaterials
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Patent Analysis
5.1.6 Other Types (Chiral, Nonlinear, etc.)
5.2.1 Antenna & Radar
5.2.3 Cloaking Devices
5.2.5 Light & Sound Filtering
5.2.6 Other Applications (Solar, Absorbers, etc.)
5.3 End-user Industry
5.3.3 Aerospace & Defense
5.3.5 Other End-use Industries (Including Optics)
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.2 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Echodyne Corp.
6.4.2 Evolv Technologies Inc.
6.4.3 Fractal Antenna Systems Inc.
6.4.4 JEM Engineering LLC
6.4.5 Kymeta Corporation
6.4.6 Metamaterials Technologies Inc.
6.4.7 Multiwave Technologies AG
6.4.8 Nanohmics Inc.
6.4.9 NKT Photonics AS
6.4.10 TeraView Ltd
6.4.11 Metawave Corporation
6.4.12 The AEgis Technologies Group
6.4.13 Metamagnetics Inc.
6.4.14 NanoSonic Inc.
6.4.15 Nanoscribe GmbH
A selection of companies mentioned in this report includes:
- Echodyne Corp.
- Evolv Technologies Inc.
- Fractal Antenna Systems Inc.
- JEM Engineering LLC
- Kymeta Corporation
- Metamaterials Technologies Inc.
- Multiwave Technologies AG
- Nanohmics Inc.
- NKT Photonics AS
- TeraView Ltd
- Metawave Corporation
- The AEgis Technologies Group
- Metamagnetics Inc.
- NanoSonic Inc.
- Nanoscribe GmbH