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Reports on the power and microwave noise performance of AlGaN/GaN high electron-mobility transistors (HEMTs) at frequencies f>18 GHz (K- and Ka-bands). At 20 GHz, a record continuous-wave output power of 1.6 W has been achieved on an eight-finger 500-μm total gate-periphery device. At 29 GHz, a 120-μm gate-periphery device showed a pulsed output density of 1.6 W/mm with an associated gain of 6.7 dB and power-added efficiency of 26%. Minimum noise figure of 1.5 dB has been achieved on a 0.2 μm × 200 μm device at 26 GHz. The data demonstrate the viability of AlGaN/GaN HEMTs for high-frequency power and low-noise amplifier applications.