Analog Devices reported fiscal Q2 2026 industrial revenue of $1.80 billion, representing 50% of total record revenue of $3.62 billion and marking 56% year-over-year growth alongside a 20% sequential increase. This performance reflected broad-based strength across aerospace and defense, automated test equipment, electronic test and measurement, and the broad industrial market, supported by rising semiconductor content per system and lean channel inventories. Management noted continued above-seasonal sequential growth expectations for industrial in Q3, with total revenue guided to $3.9 billion plus or minus $100 million and mid-to-high single-digit sequential expansion in the segment. These results underscore the segment’s role as the primary growth driver amid favorable cyclical positioning in automation, electrification, and defense applications.