|By PR Newswire||
|August 4, 2014 04:46 PM EDT||
NEW YORK, Aug. 4, 2014 /PRNewswire/ -- Giga-tronics, Inc. (NASDAQ: GIGA) – According to market research organization MarketsandMarkets, global defense spending is projected to generally stagnate for the foreseeable future. Global defense expenditures were estimated to be $1.7 trillion in 2012, and forecast to grow by 0.2% through 2022. Within this environment segments of the defense industry, including electronic warfare and radar, are expected to see growth (growing at a compound annual rate (CAGR) of 4.5%), and reaching $15.6 billion by 2020. Spending on wireless communications equipment, as forecast by CTIA and others, is expected to grow at a 6.9% CAGR, reaching $263.1 billion in 2017 from $201.2 billion in 2013.
Giga-tronics designs, manufactures, and markets a range of test and measurement equipment used in the development, testing, and maintenance of wireless communications products and systems, flight navigational equipment, electronic defense systems, and automatic testing systems. The company is headquartered in San Ramon, California.
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