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Gyrotrons Market to Grow at a CAGR of 5.1%, Fueling Advancements in Energy, Manufacturing, and Defense | Valuates Reports

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BANGALORE, India, Dec. 19, 2024 /PRNewswire/ — Gyrotrons Market is Segmented by Type (Positive Ions Type, Negative Ions Type), by Application (Hospital, Institute).

The Global Gyrotrons Market size was USD 450 Million in 2023 and it is forecasted to reach USD 637 Million by 2030. Gyrotron industry’s Compound Annual Growth Rate will be 5.1% from 2023 to 2030.

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Major Factors Driving the Growth of Gyrotrons Market:

The gyrotrons market is expanding rapidly, driven by growing demand in fusion energy research, industrial heating, and advanced manufacturing. Key segments, including transverse-output and axial-output gyrotrons, cater to diverse applications, from scientific research to defense technologies. As industries prioritize precision, efficiency, and sustainability, the adoption of gyrotrons continues to rise globally. This market’s growth is further supported by innovations in design and emerging applications across healthcare and renewable energy sectors, ensuring its sustained expansion.

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TRENDS INFLUENCING THE GROWTH OF THE GYROTRONS MARKET:

Transverse-output gyrotrons are pivotal in driving the growth of the gyrotrons market due to their advanced capabilities in industrial and scientific applications. These devices are extensively utilized in electron cyclotron resonance heating (ECRH) for nuclear fusion research, a field witnessing significant global investments. Their ability to generate high-power millimeter waves with precise frequency control makes them indispensable in plasma heating systems. Additionally, transverse-output gyrotrons are used in material processing industries for applications like ceramic sintering and polymer curing, providing efficiency and uniformity in heat treatment. Their adoption is further propelled by advancements in gyrotron design, enhancing their performance and reliability. Governments and private organizations are funding research initiatives to explore the potential of nuclear fusion as a sustainable energy source, driving demand for high-quality gyrotrons. As industries and laboratories seek powerful and precise solutions for specialized heating needs, transverse-output gyrotrons remain a critical growth driver in the market.

Axial-output gyrotrons contribute significantly to the gyrotrons market by addressing the needs of industrial heating, medical applications, and defense technologies. Their ability to produce consistent and high-frequency electromagnetic waves has made them ideal for industrial processes like metal processing, chemical synthesis, and advanced manufacturing. Axial-output gyrotrons are also being adopted in medical research for hyperthermia treatment systems, providing non-invasive cancer therapies. The defense sector uses these gyrotrons for directed-energy weapon systems and radar applications, showcasing their versatility and high-performance characteristics. Moreover, advancements in axial-output designs have reduced system size and energy consumption, making them more accessible for broader applications. With increased focus on precision heating and non-invasive medical technologies, axial-output gyrotrons are gaining traction in various industries, driving market expansion. Their role in supporting innovative technologies and high-efficiency processes ensures their continued importance in the gyrotrons market.

The manufacturing industry plays a vital role in driving the growth of the gyrotrons market by leveraging their high-power heating capabilities for industrial processes. Gyrotrons are widely used in advanced manufacturing for applications such as material processing, drying, and sintering, where precise and efficient heat generation is critical. Industries producing ceramics, composites, and advanced polymers benefit from the uniform energy distribution offered by gyrotrons, enhancing product quality and reducing processing time. Additionally, gyrotrons support eco-friendly manufacturing practices by minimizing energy waste and emissions, aligning with global sustainability goals. The rise of smart manufacturing and Industry 4.0 initiatives has further fueled the adoption of gyrotrons, as they integrate seamlessly with automated production systems. With the increasing demand for high-performance materials and sustainable production methods, the manufacturing industry’s reliance on gyrotrons is expected to grow, driving significant market expansion.

Fusion energy research is one of the primary drivers of the gyrotrons market. Gyrotrons are integral to plasma heating systems used in nuclear fusion reactors, where they generate high-power millimeter waves to sustain the fusion process. Governments and private organizations worldwide, including ITER and other major fusion projects, are heavily investing in developing fusion technology as a sustainable energy solution. The efficiency and precision of gyrotrons in delivering controlled energy outputs make them indispensable for achieving the high temperatures required in fusion reactors. As countries seek cleaner and more renewable energy sources to combat climate change, funding and collaborations in fusion research continue to grow. These initiatives are driving demand for advanced gyrotron systems capable of supporting large-scale fusion operations. The increasing focus on energy sustainability positions gyrotrons as a critical component in the future of global energy solutions, ensuring their sustained demand in this sector.

The expanding scope of industrial heating applications is significantly driving the growth of the gyrotrons market. Industries such as ceramics, metallurgy, and polymer processing utilize gyrotrons for their ability to generate precise and high-intensity heat required for sintering, drying, and material treatments. Gyrotrons improve energy efficiency and provide uniform heat distribution, ensuring superior product quality and reduced operational costs. In the chemical industry, they are employed for specific synthesis processes, enhancing reaction efficiency and output consistency. The growing emphasis on eco-friendly manufacturing practices has also increased the adoption of gyrotrons, as their energy-efficient operation aligns with global sustainability goals. Furthermore, emerging applications in additive manufacturing and 3D printing are leveraging gyrotron technology to process advanced materials, further expanding their industrial usage. The rising need for precision and efficiency in industrial processes continues to fuel demand for gyrotrons across a wide array of manufacturing sectors.

The defense industry is a prominent driver of the gyrotrons market, leveraging these devices for cutting-edge applications such as directed-energy weapons and advanced radar systems. Gyrotrons are capable of generating high-frequency electromagnetic waves, making them critical components in modern defense technologies. Directed-energy weapons, which utilize focused energy to disable or destroy targets, rely on gyrotrons for their precision and high power output. Additionally, advanced radar systems equipped with gyrotrons offer improved range and resolution, enhancing situational awareness and threat detection capabilities. As global defense budgets continue to rise, particularly in developed regions such as North America and Europe, the adoption of gyrotron technology is expanding. Governments are investing in research and development to enhance the performance and reliability of these systems. The growing need for sophisticated defense solutions to address emerging security challenges underscores the importance of gyrotrons in this sector, driving market growth.

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GYROTRONS MARKET SHARE:

The gyrotrons market shows dynamic growth across regions. North America leads due to significant investments in fusion energy research, advanced manufacturing, and defense technologies. Europe follows, driven by its strong industrial base and focus on clean energy initiatives. Asia-Pacific is the fastest-growing region, fueled by rising industrialization, nuclear research programs, and government support for technological advancements. Countries like China, Japan, and South Korea are at the forefront of gyrotron adoption, particularly in fusion research and material processing. Emerging markets in Latin America and the Middle East are also contributing to growth, supported by increasing investments in industrial and energy sectors. These regional trends highlight the diverse applications and opportunities driving the global expansion of the gyrotrons market.

Key Companies:

IBAGESiemens HealthineersSumitomo Heavy IndustriesAdvanced Cyclotron SystemsBest Medical International

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Technology

Medmovie’s Hx Heart Video Library Powers Patient Education at Cardiovascular Practices Worldwide

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Physician-validated, privately branded HD video helps heart patients understand their care.

BERKELEY, Calif., June 22, 2026 /PRNewswire/ — Medmovie, Inc., a leader in cardiovascular medical visualization, today highlighted the global reach of its Hx Heart Video Library (HVL), a hosted patient-education solution licensed to clinics and hospital systems for more than a decade.

The HVL turns the cardiovascular conditions, diagnostic tests, procedures, and medications heart patients encounter into concise, accurate HD videos — helping clinicians spend less time explaining and more time connecting with their patients.

The HVL is a curated collection of clinician-reviewed cardiovascular videos. Practices and hospitals can license, brand, and embed it directly on their websites.

Users to-date span multiple continents, including hospitals in Australia and Germany, a national trade association, and cardiology practices in the United States and around the world.

Every video is reviewed and validated by Medmovie’s MD editorial board. The Hx Heart library is brought to you by the same creative developers of the CardioSmart Heart Explorer App, which was created and produced by Medmovie and distributed by the American College of Cardiology (ACC) through 2024.

Cardiovascular specialists who rely on Medmovie’s visual content have seen its impact firsthand.

“Over the past year, my clinic’s website, www.sukruakyuz.com, has attracted more than 100,000 unique visitors per month, and my YouTube videos have generated nearly 7 million views,” said Dr. Sukru Akyuz, interventional cardiologist in Turkey. “This level of reach and engagement would not have been possible without Medmovie’s exceptional medical animations and support. Thanks to their contributions, I have achieved my goal of becoming one of Turkey’s most recognized interventional cardiologists.”

From the point of care to a clinic’s online presence, Medmovie’s trusted visual content helps patients see and understand their own care. The Hx Heart Video Library is available now to cardiovascular practices, hospitals, and health systems worldwide.

See the library in action at medmovie.com/cvl — the same branded player can be customized with a practice’s or hospital’s logo and embedded on its website in a matter of days. Watch a sample, the CAD video on the hidden risks of coronary artery disease, at https://youtube.com/shorts/0Tt-k8XkrTk

Healthcare organizations and practices interested in licensing the Hx Heart Video Library can contact Medmovie at medmovie.com/contact.

About Medmovie, Inc.

Medmovie translates complex medical and life science information into accurate, easy-to-understand, strategically focused visual media. Our clients leverage our experience, validated animations, and interactive media to create cost-effective, innovative tools to help tell their stories. We are a team of trained Medical Illustrators and Animators who love our work and are passionate about our simple goal: we want our clients’ stories to be fully understood.

Media Contact

Sarrah Hussain
Director of Communications
Medmovie, Inc.
sarrah@medmovie.com

© 2026 Medmovie, Inc. All rights reserved. Medmovie is a registered trademark of Medmovie, Inc. All other trademarks are the property of their respective owners.

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SOURCE Medmovie, Inc.

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Technology

Kevin Wheeler to Retire as Executive Chairman; President and CEO Stephen Shafer Named Chairman

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MILWAUKEE, June 22, 2026 /PRNewswire/ — A. O. Smith Corporation (NYSE: AOS), a global leader in water technology, announced today that Executive Chairman Kevin Wheeler will retire effective July 1. The company’s board of directors has elected Stephen Shafer, president and chief executive officer (CEO), as chairman upon Wheeler’s retirement. Wheeler will remain a member of the company’s board of directors.

“Kevin’s impact on A. O. Smith spans three decades,” said Chris Mapes, lead director of the board. “During his tenure, the company expanded its global footprint, strengthened its portfolio through multiple acquisitions and successfully navigated the challenges of the COVID-19 pandemic while maintaining strong operational performance.”

Wheeler joined A. O. Smith in 1994 as a regional sales manager for the former Water Products Company and held various senior leadership roles across the business before becoming president and CEO in 2018 and chairman in 2020.

Shafer, who has served as president and CEO since July 2025, becomes the 11th CEO to assume the role of chairman in the company’s history. He joined A. O. Smith in 2024 as president and chief operating officer. As chairman, Shafer will lead the board of directors and continue to oversee the company’s global operations, strategic direction, profitability and shareholder return.

“Steve has demonstrated strong, strategic leadership and a deep understanding of our business and growth opportunities,” said Mapes. “His combined role as chairman and CEO will further strengthen alignment across our strategy, operations and long-term value creation.”

Before joining A. O. Smith, Shafer held roles of increasing responsibility at 3M Company across multiple business units in the U.S. and China. Earlier in his career, he worked at McKinsey & Co. and Ford Motor Company. Shafer serves on the boards of the Air Conditioning, Heating, and Refrigeration Institute and the Metropolitan Milwaukee Association of Commerce, as well as the Executive Advisory Board for WorkBoard Inc.

“As chairman, I will continue leading this outstanding company and team with focus and discipline,” said Shafer. “We remain committed to driving innovation, serving our customers and advancing our purpose to find a better way. I would also like to thank Kevin for his leadership and continued support through this transition and look forward to benefiting from his continued guidance as a member of our board going forward.”

About A. O. Smith

A. O. Smith Corporation, headquartered in Milwaukee, Wisconsin, is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. Listed on the New York Stock Exchange (NYSE: AOS), the company is one of the world’s leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment and water management products. For more information, visit www.aosmith.com.

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SOURCE A. O. Smith Corporation

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Technology

S&P Global Declares Third Quarter Dividend

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NEW YORK, June 22, 2026 /PRNewswire/ — The Board of Directors of S&P Global (NYSE: SPGI) has approved a cash dividend on the Company’s common stock for the third quarter of 2026. The dividend of $0.97 is payable on September 10, 2026, to shareholders of record on August 26, 2026. The annualized dividend rate is $3.88 per share.

The Company has paid a dividend each year since 1937 and is one of fewer than 30 companies in the S&P 500® that has increased its dividend annually for more than 50 years.

About S&P Global:

S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive economically in a rapidly changing global landscape. 

From helping our customers assess new investments across the capital and commodities markets to guiding them through the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world’s leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today.

Contacts:

Investor Relations:
Mark Grant
Senior Vice President, Investor Relations and Treasurer
Tel:  + 1 347 640 1521

Media:
April Kabahar
Global Head of Corporate Communications
Tel:  +1 212 438 7530

 

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SOURCE S&P Global

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