It is easy to assume that, in the age of accelerating fiber build-out, non-fiber backhaul technologies will be in decline. That is true of copper lines, but microwave backhaul remains a significant, and growing, part of the global mobile network and accounts for about two-thirds of the base. Even in 2027, 35% of the world’s installed base of backhaul links (excluding small cells) are likely to be microwave, according to Ericsson, and deployment of these technologies is growing at a steady CAGR of about 6% a year in capex terms (whether by MNOs or wholesale infracos), between 2021 and 2027 (GSMA). However, that 6% is dwarfed by the 45% CAGR expected growth in the number of public network cell sites…