We report a high-performance 92 to 96 GHz cross-spectrum phase modulation (PM) noise measurement system. Utilizing this system, we measured residual PM noise of several amplifiers, mixers, and frequency multipliers. Data for the measurement system noise floor and the PM noise of W-band components are reported. These results can serve as a temporary benchmark because little or no information is available on the PM noise of components in this frequency range. In addition, we discuss an enhanced-performance frequency synthesizer that operates in the 92 to 96 GHz range. We achieved 5 to 10 dB improvement in the PM noise at 96 GHz compared with our previously designed synthesizer.