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Satellite & Space
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RF over Fiber
RFoF links, modulators, photodetectors
Passive Components
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No-Domain Companies
Chinese suppliers without .com — gap intelligence
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GaAs, GaN, SiGe, fabless China
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Market intelligence
Updated weekly
SATELLITE & SPACE
ADA Space (国星宇航) filed its second HKEX IPO prospectus as "Adaspace Technology Co., Ltd." in August 2025. Revenue ¥550M in 2024, up 65% H1 2025. Launched the world's first 12-satellite AI computing constellation May 14, 2025. Planning a 2,800-satellite "Star Computing" network. Lacks a clean English .com — significant international brand gap for a company at IPO stage.
6G & mmWAVE
6G standardisation entered formal 3GPP phase in 2025. China leads patent applications with 40%+ global share. Commercialisation expected 2030. Sub-THz and D-band (110-170 GHz) emerging as the key frequency range for next-generation links and sensing. mmWave market growing at 24% CAGR, reaching $20.5B by 2032, driven by 5G densification and automotive ADAS radar.
DATA CENTER COOLING
Liquid cooling market hits $4.8B in 2025, growing at 18% CAGR to $27B by 2035. AI/GPU workloads driving rack densities from 15kW to 80-120kW, making air cooling obsolete for hyperscale. China mandating PUE ≤1.3 for new data centers. Direct-to-chip technology holds 43% market share. Immersion cooling fastest-growing at 27% CAGR, led by deployments at Alibaba, Tencent, ByteDance.