Down Converters Sales

Down Converters Sales Market Outlook

The global Down Converters market is projected to reach approximately USD 2.6 billion by 2035, exhibiting a compound annual growth rate (CAGR) of around 6.5% during the forecast period from 2025 to 2035. This growth can be attributed to the increasing demand for efficient signal processing in communication systems, particularly in the aerospace and defense sectors. The rising adoption of advanced technologies in wireless communication and satellite systems is anticipated to further propel market expansion. Additionally, the continuous advancements in electronics and the growing need for high-frequency applications are significant factors driving the market. Furthermore, the shift towards more compact and integrated down conversion solutions is also expected to contribute to market growth, as industries increasingly seek to enhance performance while minimizing space and energy consumption.

Growth Factor of the Market

The Down Converters market is experiencing robust growth due to several factors that enhance its demand across various sectors. Firstly, technological advancements in telecommunications and satellite communications have necessitated the development of high-performance down converters that can handle increased bandwidth and frequency ranges. As industries strive for better data transmission and signal clarity, the need for efficient down conversion technologies becomes paramount. Furthermore, the surge in defense spending globally has led to an increase in the development and deployment of sophisticated radar and electronic warfare systems, which heavily rely on advanced down converters for accurate signal processing. The growing trend towards the miniaturization of electronic devices is also a critical growth factor, as it drives the demand for compact down converters that can fit into smaller form factors without sacrificing performance. Additionally, the emergence of 5G technology is expected to create new opportunities for down converter applications in wireless communication, further pushing the market upward. Finally, the increasing number of satellite launches for global communications creates a burgeoning need for efficient down converters in satellite communication systems, thereby bolstering market growth.

Key Highlights of the Market

• The global Down Converters market is projected to reach USD 2.6 billion by 2035.
• North America is anticipated to hold the largest market share due to significant investments in aerospace and defense.
• RF Down Converters are expected to dominate the product type segment due to their widespread applications.
• The increasing demand for satellite communication is a key factor driving market growth.
• Online distribution channels are witnessing significant growth owing to the convenience they offer to consumers.

By Product Type

RF Down Converters:

RF Down Converters are widely recognized for their capability to convert radio frequency signals into lower frequency signals, making them essential in various communication systems. These devices are extensively utilized in satellite communication and wireless systems due to their high performance and efficiency in processing signals with minimal distortion. The increasing demand for RF down converters is primarily driven by the surge in satellite launches and the expansion of wireless communication networks. With advancements in technology, these converters are becoming more compact and integrated, allowing them to fit into smaller devices while maintaining high performance. Furthermore, the rise of IoT devices and smart technologies is also contributing to the growing need for RF down converters, as they enable efficient communication in diverse applications. The market for RF down converters is anticipated to witness substantial growth as industries continue to innovate and enhance their communication capabilities.

IF Down Converters:

IF Down Converters, operating in the intermediate frequency range, play a crucial role in various applications including radar systems and signal processing for communication. These converters are particularly valued for their ability to improve signal-to-noise ratios and enhance the clarity of transmitted signals. As industries increasingly demand high precision in radar and telecommunications applications, the adoption of IF down converters is on the rise. Additionally, the growing trend of integrating multiple functionalities into single devices is driving the development of advanced IF down converters that can handle complex signal processing tasks. The expansion of the aerospace sector, alongside the increasing need for reliable communication systems, further propels the market for IF down converters, highlighting their pivotal role in ensuring effective signal transmission across numerous applications.

Microwave Down Converters:

Microwave Down Converters are essential components in the field of microwave communications, primarily used in radar systems and satellite communication. They are designed to effectively down-convert microwave signals to intermediate frequency levels while preserving signal integrity, thus ensuring high-quality communication. The rising demand for microwave technology in various industries, including defense and telecommunications, is a significant driver for the growth of this segment. As technological advancements continue to improve the performance and efficiency of microwave down converters, their applications are expanding into new areas, including automotive and industrial automation. Furthermore, the ongoing development of 5G networks and the escalating need for high-speed data transmission are expected to boost the adoption of microwave down converters in the coming years, establishing them as a critical component in modern communication systems.

Optical Down Converters:

Optical Down Converters are pivotal in the realm of optical communication systems, primarily involving the conversion of high-frequency optical signals into lower frequencies for easier processing and transmission. As the demand for high-speed data transmission continues to surge, optical down converters are becoming increasingly important in telecommunications and data centers. The growing reliance on fiber-optic networks for broadband internet and communication services is driving the adoption of these converters, enabling more efficient data handling and transmission. Additionally, developments in photonic technologies are paving the way for enhanced performance and expanded applications of optical down converters. Their ability to support high bandwidth and low latency makes them indispensable in applications such as long-haul communications and high-speed data transfer, further solidifying their position in the market.

Digital Down Converters:

Digital Down Converters (DDCs) are transforming signal processing in a variety of communication systems by converting analog signals into digital format for enhanced processing capabilities. The increasing demand for high-performance digital processing in telecommunication, radar, and satellite communication systems is driving the growth of this segment. DDCs offer significant advantages, including lower power consumption, increased flexibility, and improved noise performance, making them an ideal choice for modern applications. As industries continue to embrace digital transformation, the role of digital down converters becomes more critical in enabling efficient signal processing and data acquisition. The rise of software-defined radio (SDR) technologies is also fostering the adoption of DDCs, as they allow for more adaptable and scalable signal processing solutions, further contributing to market growth.

By Application

Satellite Communication:

Satellite communication is one of the primary applications driving the demand for down converters. These devices play a vital role in processing signals transmitted between satellites and ground stations, converting high-frequency signals into lower frequencies for further processing. With the rapid proliferation of satellite networks and the increasing demand for broadband services worldwide, the requirement for efficient down converters has escalated significantly. The advent of advanced satellite technologies, such as high-throughput satellites (HTS), further amplifies the need for high-performance down converters to handle increased data throughput and ensure reliable communication. As global connectivity continues to expand through satellite communication, the down converters market is poised for substantial growth, supported by ongoing innovations in satellite design and operation.

Radar Systems:

Radar systems are another significant application of down converters, as they are essential for converting received signals to intermediate frequencies for analysis and detection. The growing investment in defense and military applications is a key driver for the radar systems market, significantly boosting the demand for down converters. Furthermore, advancements in radar technology, including the development of more sophisticated and high-resolution radar systems, necessitate the use of modern down converters that can support these advancements. The increasing focus on safety and security in both military and civilian applications is also contributing to the rising demand for radar systems, which in turn bolsters the down converters market. As industries look to enhance their radar capabilities, the requirement for efficient down converters will remain crucial.

Wireless Communication:

The wireless communication segment is experiencing rapid growth, driven by the proliferation of mobile devices and the increasing demand for high-speed data connectivity. Down converters are integral to wireless communication infrastructure, facilitating the conversion of signals in base stations and mobile devices. The transition to 5G networks is creating new opportunities for down converters, as the technology requires advanced signal processing capabilities to support higher frequency bands. As communication networks evolve and expand, the need for efficient down converters that can handle complex signal environments is becoming increasingly pronounced. This growth in wireless communication applications highlights the pivotal role down converters play in enabling seamless and high-quality wireless connectivity across various platforms.

Electronic Warfare:

Electronic warfare applications significantly rely on down converters to ensure effective signal intelligence, surveillance, and reconnaissance (ISR) capabilities. These down converters are crucial in processing signals for threat detection and countermeasure deployments, enhancing the operational effectiveness of defense systems. The increasing geopolitical tensions and defense spending by numerous countries are driving investments in electronic warfare capabilities, thereby boosting the demand for advanced down converters. Furthermore, the need for sophisticated electronic countermeasures necessitates the development of high-performance down converters that can operate in complex signal environments. As military operations require more precise and agile electronic warfare systems, the role of down converters is becoming increasingly vital, promising growth opportunities in this segment.

Test and Measurement:

Test and measurement applications are critical in ensuring the performance and reliability of electronic systems, and down converters are essential tools in these processes. They enable the conversion of high-frequency signals into manageable ranges for testing equipment, ensuring accurate measurements and analysis. The growing complexity of electronic devices and the increasing demand for quality assurance are driving the need for efficient down converters in the test and measurement sector. Innovations in testing methodologies and the rise of automated testing systems are further propelling the demand for advanced down converters that can support high-frequency testing requirements. As industries continue to prioritize quality control and performance validation, the role of down converters in test and measurement applications will remain integral, fostering market growth.

By Distribution Channel

Online Stores:

Online stores have emerged as a prominent distribution channel for down converters, driven by the convenience and accessibility they offer to customers. The rise of e-commerce platforms has transformed the way manufacturers and suppliers reach their consumers, allowing for a wider selection of products and competitive pricing. Customers can easily compare specifications, prices, and reviews, enabling more informed purchasing decisions. Additionally, the increased use of digital marketing strategies by manufacturers helps to enhance product visibility and attract potential buyers. The online channel also supports global reach, allowing customers from various regions to access specialized down conversion technologies that may not be available locally. As online shopping continues to gain traction, the demand for down converters through this channel is expected to grow significantly.

Specialty Stores:

Specialty stores cater to niche markets, offering specialized down converters tailored to specific applications, making them a valuable distribution channel. These stores often provide expert advice and a curated selection of products that meet the specific needs of customers in sectors like aerospace, telecommunications, and defense. The personalized service and in-depth knowledge offered by specialty store staff can greatly enhance the customer experience, fostering brand loyalty and repeat business. Additionally, specialty stores often host technical seminars and demonstrations, which help educate customers about the latest advancements in down converter technology. The growing emphasis on tailored solutions for unique applications is expected to sustain demand for down converters through specialty retail channels, ensuring their continued relevance in the market.

Direct Sales:

Direct sales remain an essential distribution strategy for down converters, particularly for manufacturers looking to establish a close relationship with their customers. This approach allows manufacturers to offer customized solutions based on the specific requirements of their clients, ensuring optimal product performance and satisfaction. Direct sales also enable manufacturers to provide comprehensive support and after-sales service, which is critical in maintaining long-term customer relationships in technical markets such as aerospace and defense. By eliminating intermediaries, direct sales can also lead to cost savings for customers, making high-quality down converters more accessible. As industries prioritize tailored solutions and strong manufacturer support, the direct sales channel is positioned for continued growth.

Indirect Sales:

Indirect sales channels play a crucial role in expanding the market reach of down converters by leveraging partnerships with distributors and resellers. These channels allow manufacturers to penetrate diverse markets and access new customer segments without the need for extensive investments in sales infrastructure. Distributors often have established relationships and in-depth knowledge of specific industries, enabling them to effectively promote and sell down converters tailored to their customers' needs. As manufacturers increasingly recognize the value of partnerships to enhance market presence, the indirect sales channel is expected to grow, facilitating wider accessibility and availability of down converters to end-users across various sectors.

Others:

The "Others" category encompasses various unconventional distribution channels, including trade shows, exhibitions, and collaborations with research institutions. These alternative channels provide manufacturers with opportunities to showcase their innovations and connect with potential customers in a more interactive environment. Trade shows and exhibitions allow manufacturers to demonstrate the capabilities of their down converters, facilitating direct engagement with industry professionals and decision-makers. Collaborations with research institutions can also lead to unique opportunities for product development and testing, enhancing innovation and market competitiveness. As manufacturers continue to explore diverse distribution strategies, these unconventional channels will contribute to the broader reach of down converters in the marketplace.

By Region

The regional analysis of the Down Converters market indicates that North America holds a dominant position, accounting for approximately 35% of the global market share in 2025. This dominance is largely attributable to substantial investments in aerospace and defense sectors, which significantly rely on advanced communication and radar systems that utilize down converters. The continuous growth of satellite communication networks and the increasing demand for wireless communication technologies further bolster the North American market. Additionally, the presence of leading manufacturers and a robust technological infrastructure in this region contribute to its significant market share. As the demand for high-performance down conversion technologies continues to rise, North America is expected to maintain its leading position throughout the forecast period.

In Europe, the Down Converters market is projected to experience a healthy CAGR of around 6.0% from 2025 to 2035, driven by increasing investments in defense and security applications. The region's emphasis on enhancing its electronic warfare capabilities, alongside the growing demand for satellite communication systems, significantly contributes to market growth. Countries such as Germany, France, and the United Kingdom are at the forefront of adopting advanced down conversion technologies, supported by ongoing technological innovations. The Asia Pacific region is also witnessing rapid growth due to the expanding telecommunications infrastructure and increasing adoption of IoT devices, further contributing to the overall expansion of the Down Converters market. As these regions continue to develop and innovate, the global Down Converters market will benefit from enhanced demand and technological advancements.

Opportunities

The Down Converters market presents a multitude of opportunities driven by technological advancements and evolving industry needs. One of the most significant opportunities lies in the advent of 5G technology, which creates a pressing demand for high-frequency signal processing solutions. As global operators invest in building and expanding their 5G networks, the requirement for efficient down conversion technologies to manage increased data traffic and improve signal quality becomes critical. This demand extends to both RF down converters and digital down converters, which are essential for enabling seamless communication within 5G infrastructures. Furthermore, the growing adoption of satellite constellations for global broadband connectivity represents another opportunity for market players. With the launch of numerous satellites designed to provide high-speed internet access, the need for effective down converters in satellite communication systems is on the rise, signaling a favorable environment for market growth.

Additionally, the increasing focus on electronic warfare and defense systems creates substantial opportunities for down converter manufacturers. As nations prioritize enhancing their military capabilities, investments in advanced radar systems and electronic countermeasures will drive demand for efficient down conversion solutions. The integration of artificial intelligence and machine learning in signal processing applications also opens new avenues for innovation and development in down converter technology. Manufacturers can leverage these advancements to create cutting-edge products that enhance performance, reduce power consumption, and improve overall efficiency. As industries continue to seek solutions that cater to their specific needs, the Down Converters market is poised to capitalize on these opportunities and align itself with future technological trends.

Threats

Despite the promising growth prospects, the Down Converters market faces several threats that could hinder its expansion. One significant threat is the rapid technological evolution occurring within the electronics sector. As new technologies emerge, existing down conversion solutions may become obsolete, necessitating constant innovation and adaptation from manufacturers to stay competitive. Additionally, the growing trend toward integrated systems can pose challenges for traditional down converter manufacturers, as customers increasingly seek all-in-one solutions that combine multiple functionalities into a single device. This shift may result in reduced demand for standalone down converters, affecting market dynamics. Furthermore, geopolitical tensions and trade restrictions can disrupt supply chains and limit market access, potentially impacting the flow of components and finished products across borders.

Moreover, economic fluctuations and uncertainties can affect investment levels in key sectors such as aerospace, defense, and telecommunications, leading to a slowdown in demand for down converters. Manufacturers may also face increased competition from emerging players that offer cost-effective alternatives, potentially squeezing profit margins and driving prices down. The threat of price wars could undermine the market’s stability, making it imperative for established manufacturers to focus on quality and innovation. As the landscape evolves, stakeholders must remain vigilant and resilient to navigate the challenges that may arise in the Down Converters market.

Competitor Outlook

• Analog Devices, Inc.
• Texas Instruments Incorporated
• Maxim Integrated Products, Inc.
• Qorvo, Inc.
• NXP Semiconductors N.V.
• Microwave Technology, Inc.
• Broadcom Inc.
• Skyworks Solutions, Inc.
• Renesas Electronics Corporation
• Infineon Technologies AG
• STMicroelectronics N.V.
• Honeywell International Inc.
• Teledyne Technologies Incorporated
• Miteq Inc.
• Cree, Inc.

The competitive landscape of the Down Converters market is characterized by the presence of numerous established players and emerging companies striving to capture market share. Major companies leverage their technological expertise, robust research and development capabilities, and extensive distribution networks to maintain a competitive edge. The emphasis on innovation is paramount, as players continually invest in developing advanced down converter technologies that meet the evolving demands of various applications. Strategic partnerships and collaborations are also common among key players, enabling them to enhance their offerings and expand their market presence. As competition intensifies, companies are focusing on differentiating their products through unique features, superior performance, and customer-centric solutions.

One of the leading companies in the Down Converters market is Analog Devices, Inc., renowned for its high-performance RF and microwave components. The company's extensive portfolio includes a wide range of down converters designed for various applications, including telecommunications, aerospace, and defense. With a strong commitment to innovation and quality, Analog Devices is well-positioned to capitalize on the growing demand for advanced down conversion solutions. Similarly, Texas Instruments Incorporated is another key player known for its comprehensive range of analog and embedded processing solutions. The company focuses on delivering cutting-edge technologies that enable efficient signal processing in diverse applications, thereby strengthening its position in the Down Converters market.

Maxim Integrated Products, Inc. is recognized for its expertise in the design and manufacture of mixed-signal and analog integrated circuits, including down converters. The company's innovative solutions cater to various applications, from consumer electronics to industrial systems, showcasing its versatility in the market. Additionally, Qorvo, Inc. stands out with its focus on RF solutions for mobile devices and infrastructure, positioning itself as a significant player in the down converter landscape. By continually enhancing its technology and product offerings, Qorvo aims to address the increasing complexities and demands of modern communication systems.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Cree, Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Miteq Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Qorvo, Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Broadcom Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Analog Devices, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 NXP Semiconductors N.V.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 STMicroelectronics N.V.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Infineon Technologies AG
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Skyworks Solutions, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Microwave Technology, Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Honeywell International Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Texas Instruments Incorporated
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Maxim Integrated Products, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Renesas Electronics Corporation
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Teledyne Technologies Incorporated
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Down Converters Sales Market, By Application
    • 6.1.1 Satellite Communication
    • 6.1.2 Radar Systems
    • 6.1.3 Wireless Communication
    • 6.1.4 Electronic Warfare
    • 6.1.5 Test and Measurement
  • 6.2 Down Converters Sales Market, By Product Type
    • 6.2.1 RF Down Converters
    • 6.2.2 IF Down Converters
    • 6.2.3 Microwave Down Converters
    • 6.2.4 Optical Down Converters
    • 6.2.5 Digital Down Converters
  • 6.3 Down Converters Sales Market, By Distribution Channel
    • 6.3.1 Online Stores
    • 6.3.2 Specialty Stores
    • 6.3.3 Direct Sales
    • 6.3.4 Indirect Sales
    • 6.3.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Down Converters Sales Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Down Converters Sales market is categorized based on

By Product Type

• RF Down Converters
• IF Down Converters
• Microwave Down Converters
• Optical Down Converters
• Digital Down Converters

By Application

• Satellite Communication
• Radar Systems
• Wireless Communication
• Electronic Warfare
• Test and Measurement

By Distribution Channel

• Online Stores
• Specialty Stores
• Direct Sales
• Indirect Sales
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Analog Devices, Inc.
• Texas Instruments Incorporated
• Maxim Integrated Products, Inc.
• Qorvo, Inc.
• NXP Semiconductors N.V.
• Microwave Technology, Inc.
• Broadcom Inc.
• Skyworks Solutions, Inc.
• Renesas Electronics Corporation
• Infineon Technologies AG
• STMicroelectronics N.V.
• Honeywell International Inc.
• Teledyne Technologies Incorporated
• Miteq Inc.
• Cree, Inc.