The energy consumption of high-power microwave sources has attracted much attention in the research field of high-power microwaves. One way of decreasing the energy consumption is to reduce the guiding magnetic field. In this work, a high-efficiency transit-time oscillator is proposed with a low guiding magnetic field. In order to enhance the modulation depth of electrons and increase the conversion efficiency under a low guiding magnetic field, two bunchers are adopted to modulate the electron beam. 2.5D simulation results show that the proposed device generates microwaves with a power of 3.6 GW and a frequency of 4.31 GHz. The power conversion efficiency is 40% and the modulation depth is 125% when the guiding magnetic field is only 0.5 T. In addition, a 3D simulation verifies the results.
