New York, US, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Semiconductor in Military and Aerospace Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Semiconductor in Military and Aerospace Market Information By Component, Technology, Packaging Type, End-Use, – Forecast till 2030", the market is projected to reach USD 10.20 Billion by 2030 at a CAGR of 5.21%.
Market Scope:
A semiconductor's utility spans several fields, including those concerned with air travel and national security. It is anticipated that there would be a further influx of demand because of rising interest in space exploration and research. These high-powered parts can withstand electrical power levels of several gigawatts, as well as high voltages and frequencies. Power semiconductors, like other semiconductor devices, are used to correct and amplify electrical signals or to switch on and off the flow of electricity. These are most commonly employed in transmission of power across great distances and in industrial settings.
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| Report Attribute | Details |
| Market Size in 2030 | USD 10.20 Billion |
| CAGR | 5.21% (2020-2030 ) |
| Base Year | 2020 |
| Forecast Period | 2020-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, Technology, Packaging Type, End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America |
| Key Market Drivers | Aircraft and rising military consumption |
Competitive Dynamics:
As a result of increased competitiveness, companies operating in the military semiconductor industry are implementing a wide range of growth tactics, including increased spending on marketing and promotion. The major market players are:
- ON Semiconductor
- Digitron Semiconductors
- Skyworks Solutions
- Semtech, Renesas Electronics
- Teledyne Defense Electronics
- Aerospace Semiconductor
- STMicroelectronics
- KCB Solutions
- Global Foundries
- Texas Instruments
- Analog Devices
- NXP Semiconductors
- Maxim
- AMS Technologies
- Vishay Inter-technology
Market USP:
Market Drivers
It is expected that the increase in aircraft modifications and modernization would be a primary factor fueling the growth of the semiconductor industry in the military and aerospace sectors. Aircraft manufacturers have mostly focused on updating and bettering their wares to ensure pilot safety. It's becoming increasingly urgent to replace the antiquated cathode ray tubes used in airline screens. Lighter and more technologically advanced display panels are necessary to drastically reduce emissions and allow for significant fuel savings. Consequently, the increasing demand for semiconductors used in aircraft electronic systems will lead to a growing market.
Predictable rising use by various government and space offices is also satisfying the need for more powerful and effective technology to further space exploration and military achievements. The growth of the semiconductor market in the defense and aerospace sectors is strongly influenced by factors such as an increase in the number of active space studies and the development of cutting-edge technology-enabled systems administration and communication capacities.
Moreover, the growing risk of psychological warfare and demand in enhanced security have collaborated to spur massive investment in constructing advanced guard frameworks and navigational devices across large urbanized areas. Therefore, in the next years, the market is expected to provide substantial benefits, productive freedoms, to the players in the semiconductor in military and aerospace market.
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Market Restraints
But the rising production costs, the high quality semiconductors needed for military usage, and the rising security concerns will all pose obstacles to the expansion of the market players. In addition, it is hard to develop policy because of the complexity and lack of transparency in the supply chain. Avoiding unanticipated harm calls for an in-depth familiarity of the whole supply chain and the level of national competitiveness across each piece of the chain.
COVID-19 Analysis:
Following an outbreak of the COVID-19 virus in December 2019, the World Health Organization has declared it a global health emergency, with symptoms now being reported in nearly one hundred countries. In 2021, the semiconductor market in the military and aerospace sectors will be significantly impacted by the COVID-19. The worldwide Semiconductor Market in Military and Aerospace is growing increasingly competitive as more companies continue to focus on specific consumer bases. Companies have been adapting their pandemic recovery strategies to local market situations since the outbreak began.
Market Segmentation:
By Product
The memory segment accounted for the largest share of the market. The segment is driven by the increased use of processes in various devices. Also, the growing use of technology in weapon systems will drive the growth of the segment during the forecast period.
By Technology
Surface Mount Technology segment is expected to record a notable CAGR over the review period.
By Packaging Type
Plastics segments is expected to dominate the market segment over the review period by acquiring the dominant market share.
End-Use
The Defense segment is projected to achieve a high market value over the assessment period.
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Regional Analysis:
North America is one of the largest regional markets. The growth of the North American semiconductor industry is expected to benefit from the expansion of semiconductor fabrication facilities over the projected period. Over the projection period, the expansion of the North American semiconductor market in the military and aerospace industry would be aided by the rising investment in the military.
The worldwide power semiconductor industry is anticipated to be led by Asia Pacific, which already dominates the global semiconductor business and is supported by government regulations. While China, Japan, Taiwan, and South Korea account for over 65% of the worldwide discrete semiconductor market, other countries in the area, such as Vietnam, Thailand, Malaysia, and Singapore, also make substantial contributions to the region's market supremacy.
China is rapidly expanding its capabilities across many sectors, and it may try to reorganize supply chains to its advantage, which might have serious consequences for national and international security. There is a lot of opportunity for profit in India for international research and development hubs. As a result, the semi-conductor industry stands to benefit from the government's current "Make in India" effort. In addition, the area is a major producer of electronics, both for domestic use and for export. There is a direct correlation between the market share held by electronic manufacturers and the volume of electronic products and components produced.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
