RF GaN market develops steadily

Despite weak demand in the 5G telecom infrastructure space in 2023 and 2024, RF GaN is steadily outperforming LDMOS, offset by continued growth in the defense and satellite communications markets. We expect a recovery in the RF GaN market, which is expected to slowly regain momentum in 2025 and exceed $2 billion by 2029, driven by telecom infrastructure, defense, and satellite communications applications.