This paper presents numerical simulation results to study the impact of the co-existence between a fixed service (FS) system and 5G small cell networks at 28-, 38-, and 60-GHz millimeter-wave (mmWave) frequency bands. For this paper, two scenarios are considered: aggregation of interference from small cells into an FS receiver from base stations (BSs) to their associated user equipment (UE) (downlink) and the aggregation of cellular interference at the FS receiver from UEs to their associated BSs (downlink). Moreover, mmWave-specific propagation characteristics and attenuation factors are considered for a more precise simulation study. The simulation results determine how much interference rejection is required to protect the operation of FS. In addition, currently available mmWave modular antenna array (MAA) architectures are introduced. Based on the information, additionalmmWave frequency sharing study is performed using the realistic MAA radiation patterns. Last, we compare and analyze the performance differences between ITU standard models and MAA solutions.