New Delhi, May 20, 2024 (GLOBE NEWSWIRE) -- The global military grade PCB market is projected to surpass market valuation of US$ 9,816.9 million by 2032 from US$ 5,407.6 million in 2023 at a CAGR of 6.85% during the forecast period 2024–2032.
Modern military systems are becoming increasingly sophisticated, integrating advanced technologies like AI, IoT, miniaturized electronics, and complex circuitry. This is driving demand for high-performance, reliable PCBs that can support these cutting-edge capabilities in harsh operating environments. For example, HDI (high density interconnect) PCBs with stacked microvias provide interconnect strength and reliability equivalent to 8-layer through-hole PCBs in a more compact 4-layer design, making them ideal for applications like military communications equipment.
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The Keynesian school of thought suggests that increased military spending can stimulate economic growth by boosting purchasing power and aggregate output. This, in turn, can drive further demand for military grade PCB market market as defense contractors and suppliers ramp up production to meet the needs of expanding military budgets. The post-pandemic era has seen a plateau in military spending for many countries, accounting for more than 90% of global military spending. However, if global tensions rise, defense spending may start to inch up, potentially driving further demand for high-reliability PCBs.
As military systems become more complex and technologically advanced, they require increasingly sophisticated PCBs that can support high-speed data processing, miniaturization, and enhanced functionality. The U.S. defense budget for 2024 allocates significant funds for research and development of cutting-edge technologies like artificial intelligence, hypersonic weapons, and quantum computing. These advancements will likely drive demand for state-of-the-art PCBs that can meet the stringent performance and reliability requirements of next-generation military systems.
Key Findings in Military Grade PCB Market
| Market Forecast (2032) | US$ 9,816.9 Million |
| CAGR | 6.85% |
| Largest Region (2023) | North America (41.25%) |
| By Material | Copper (41.32%) |
| By Type | Multilayer PCB (50.85%) |
| By Design | Rigid PCB (51.62%) |
| By Application | Radio Communication Systems (18.31%) |
| By End Use | Aerospace (36.57%) |
| Top Trends |
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| Top Drivers |
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| Top Challenges |
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Expanding Military and Defense Budgets Worldwide
Rising geopolitical tensions and security concerns are leading many countries to increase their military spending and modernize their defense capabilities. As per Astute Analytica’s latest findings on military grade PCB market, global defense budget is pegged at 2.44 trillion as of 2023. For instance, the US National Defense Authorization Act for Fiscal 2023 allocates a massive $816.7 billion to the Defense Department. This emphasis on updating military hardware is boosting demand for military-grade PCBs. The global military-grade PCB market size is projected to reach multimillion dollar figures by 2032.
Stringent Reliability and Durability Requirements Adds Fuel to Military Grade PCB Market
PCBs used in defense applications must meet exacting standards for performance and durability under extreme conditions like shock, vibration, high temperatures, humidity, and chemical exposure. Failure is not an option for these mission-critical systems. This necessitates the use of specialized materials, designs, and manufacturing processes to produce PCBs that are "tough as nails". IPC Class 3 and 3A standards define the highest levels of quality for PCBs used in military and aerospace applications. Compliance with these rigorous specifications is a key driver of military-grade PCB demand.
The Rise and Dominance of Multilayer PCBs in Modern Military Systems Captures Over 50.85% Market Share
The rise of multilayer PCBs in modern military systems is driven by the increasing complexity and sophistication of these systems across the global military grade PCB market. As military technologies advance, there is a growing need for compact, high-performance electronic packages that can integrate a wide range of capabilities. Multilayer PCBs offer several advantages over traditional single-sided and double-sided PCBs, making them the go-to solution for supporting this level of circuit complexity and density. Multilayer PCBs overcome the limitations of simpler PCB designs, such as noise, stray capacitance, and crosstalk, by providing additional layers for signal routing, power distribution, and ground planes. This enables more sophisticated and reliable designs, particularly in modern military communications devices that integrate multiple radios, sensors, and processing units.
Another significant factor adding fuel to the demand for multilayer PCBs is their ability to enable unprecedented miniaturization. By utilizing the vertical space with additional layers, designers can pack complex circuitry into a compact form factor without compromising functionality. This is crucial for applications like wearable devices, UAVs, and handheld radios, where space is at a premium in the military grade PCB market. Multilayer PCBs also offer enhanced performance and reliability, with additional layers providing space for power and ground planes that reduce EMI and improve signal integrity. Proper design techniques can increase immunity to RF fields by a factor of 10 or more compared to double-sided boards. Furthermore, multilayer PCBs provide improved thermal management, enhancing reliability and longevity.
While more expensive initially, the cost difference of multilayer PCBs is justified by their enhanced performance and functionality. Advances in manufacturing have also made them more cost-effective and widely adopted across various military domains.
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Diverse Range of Military Applications: Radio Communication Systems Accounts Over 18% Market Share
Military-grade PCBs are used in a wide variety of defense systems in the global military grade PCB market, including avionics, communications, radar, electronic warfare, missile guidance, and more. For example, they are integral to radio communication systems, which accounted for 18.31% of the global military-grade PCB market revenue share. The breadth of applications across all military domains - land, sea, air, space, and cyberspace - contributes to the strong and growing demand. Military radio systems must be highly reliable, secure, and able to function in harsh environments. This is where military-grade PCBs play a crucial role. These PCBs are designed to withstand extreme temperatures, vibrations, shocks, and exposure to contaminants, ensuring uninterrupted communication even in the most challenging conditions.
Modern military radio systems are highly complex, integrating multiple technologies and capabilities into compact, ruggedized packages. For example, the Harris AN/PRC-117F radio, originally developed for U.S. Special Forces, provides ground-to-ground, ground-to-air, and ground-to-satellite secure communications in a single unit. Such advanced radio systems rely heavily on high-performance PCBs to enable signal processing, antenna integration, RF components, miniaturization, and system integration. Military-grade PCBs used in these applications must meet stringent standards for reliability, security, and durability.
- Examples of Leading Military Communication Systems
Several companies across the global military grade PCB markets are at the forefront of developing cutting-edge military communication systems that rely on advanced PCBs. Some notable examples include:
- Thales Group's next-generation broadband software-defined radio (SDR) solutions, offering enhanced collaborative combat capabilities and secure communication in contested environments.
- Northrop Grumman's autonomous air system, the X-47B, which utilizes advanced PCBs for seamless communication and control.
- General Dynamics' Shadowcat radio, designed for resilient, squad-level communications in the most challenging conditions.
Dominance of Key Geographic Markets: North America Leads the Pact with Over 41% Revenue Share
Geographically, North America is the largest market for military-grade PCBs, driven by the dominant defense spending of the United States. North America accounted for over 41% of global market sales in 2023. However, other regions like Europe and Asia-Pacific are also seeing increased demand as they focus on strengthening their own defense capabilities. The US & UK aerospace and defense PCB market alone is projected to reach $3.67 billion by 2033, growing at a 7.03% CAGR.
The United States is the world's largest defense spender, accounting for nearly 40% of global military expenditures in 2023. This significant budget allocation directly impacts the demand for military-grade PCBs, as these components are essential for the advanced electronic systems used in modern warfare. The U.S. defense spending increased by $55 billion from 2022 to 2023, partly due to additional military aid sent to Ukraine. This surge in spending is likely to drive up demand for high-reliability PCBs used in military communications, surveillance, and weapons systems.
While the U.S. leads in defense spending, other nations like China, India, the United Kingdom, and Russia are also among the top military spenders, collectively accounting for 62% of global military expenditure in 2021. As these countries invest in modernizing their defense capabilities, they create a growing market for military-grade PCBs designed to withstand extreme conditions. In Europe, military expenditure saw its steepest year-on-year increase in at least 30 years, largely due to Russian and Ukrainian spending. Germany, for instance, spent $56 billion on defense in 2021, a figure that has been increasing due to security concerns. This trend is expected to boost demand for advanced PCBs used in aerospace, defense, and security applications.
Global Military Grade PCB Market Key Players
- Advanced Circuits
- Amitron
- ANDUS ELECTRONIC GmbH
- APCT Inc.
- Epec, LLC.
- EVERMAX S.R.O.
- Mer-Mar Electronics
- Odak PCB Elektronik A.
- Rayming Technology
- RIGIFLEX TECHNOLOGY INC
- RUSH PCB Inc
- Sierra Circuits
- Twisted Traces
- Venture Electronics
- Other Prominent Players
Key Segmentation:
By Material
- Aluminium
- Copper
- Laminates
- FR- 4
- Copper Clad (CCL)
- Polyimide
- PTFE
- Others
By Type
- Single-Sided PCB
- Double-Sided PCB
- Multilayer PCB
By Design
- Rigid PCB
- Flexible PCB
- Rigid-flex PCB
By Application
- Radio Communications Systems (Radar)
- Navigational Radar
- Pulsed RADAR
- Weather Radars
- Instrumentation Radar
- Bistatic Radar
- Others
- Control Tower Systems
- LED Lighting Systems
- Defense Navigation
- Satellite Subsystems
- Cyber Counterintelligence Systems
- Jet Instrumentation
- Temperature Sensors
- Auxiliary Power Units
- Airborne Warning and Control Systems
- Others
By End Use
- Naval Operations
- Aviation
- Defense
- Aerospace
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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