According to a report published by Grand View Research earlier in the year, the global radio frequency components market size is expected to reach $17.54 billion by 2022. Product demand is expected to be driven by the proliferation of smartphones.
Grand View Research notes that rising consumer disposable income, especially in emerging markets like Brazil and India, have led to a substantial increase in adoption of consumer electronic devices with connectivity features.
The research report adds that the increasing need for faster access to mobile data may also drive growth in the global radio frequency components market over the forecast period.
Growth is also expected to be driven by increasing government regulations relating to the use of radio frequency components, according to Grand View Research. The research firm notes that the inception of emerging technologies including 4G is likely to lead to an increase in demand for these components in order to catch wireless radio signals.
Other areas that are likely to drive demand during the forecast period include military, healthcare and wireless communications.
The outlook for the global radio frequency components market, especially the fact that it will be partly driven by demand from military, augurs well for AmpliTech Group Inc. (OTCQB: AMPG).
Based in Bohemia, New York, AmpliTech Group is engaged in the design, development and manufacturing of custom and standard state-of- the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets.
These designs cover the frequency range from 50 kHz to 40 GHz - eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems.
AMPG shares are gaining momentum in trading today after the company announced the receipt of $403,000 of orders in fiscal second quarter 2016 and over $700,000 in the month of July 2016. Fawad Maqbool, CEO at AmpliTech Group, said that the company is extremely pleased that its bookings have continued to increase.
Maqbool further said that although much of the company’s backlog is from repeat customers who realize the Company’s superior performance, service, and quality are the keys to their ultimate success, it is pleased that new products and marketing strategy have also contributed to increased bookings.
AMPG shares have risen sharply in trading today. At last check, the stock was trading 9.82% higher at $0.0302 on volume of 246,244, which is well above the daily average volume of 171,848. While shares have pulled back over the last few weeks, they are still trading at the upper band of their 52-week range.
