Microsystems for Radio Frequency applications, known as RF MEMS, have entered the commercialization phase in 2003. Bulk Acoustic Wave filters are already produced in series and first commercial samples of switches are available. On the other hand, reliability and packaging problems are still a major hurdle especially for switches and tunable capacitors. Will RF MEMS hold their promise to be one of the future major businesses for MEMS? The presentation will give an overview on RF MEMS applications and market players. WTC will highlight technical challenges that still have to be solved to open mass markets such as mobile telephony and WLAN. WTC will also present applications of RF MEMS and opportunities in niche markets with high added value like military and space applications. WTC will provide a regional analysis and compare R&D focus and public funding situation in North America, Europe and Asia. Finally, WTC will present an updated product roadmap market forecast for RF MEMS devices for the 2004-2008 time period.