Semiconductor in Military and Aerospace Market to Reach $12.9 Billion, Globally, by 2031 at 7.6% CAGR: Allied Market Research

Nov 24, 2023

News provided by

27 Feb, 2023, 05:13 ET

Share this article

The rise in military expenditure as well as growth in aircraft upgradation and modernization programs support the growth of the global semiconductor in the military and aerospace market.

PORTLAND, Ore., Feb. 27, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Semiconductor in Military and Aerospace Market by Component (Sensors, Memory, Opto Electronics, Logic, Micro, Analog, and Others), Technology (Surface Mount Technology and Through-Hole Technology), End Use (Military and Aerospace), and Application (Communication, Navigation, Global Positioning System (GPS) and Surveillance, Imaging, Radar and Earth Observation, Munitions, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2031". According to the report, the global semiconductor in the military and aerospace industry is expected to generate $6.3 billion in 2021 and is anticipated to generate $12.9 billion in 2031, witnessing a CAGR of 7.6% from 2022 to 2031.

Download Sample of Research Report - https://www.alliedmarketresearch.com/request-sample/47855

Prime determinants of growth

The rise in military expenditure as well as growth in aircraft upgradation and modernization programs support the growth of the global semiconductor in the military and aerospace market. The use of radiation-tolerant semiconductor components also boosts the growth of semiconductors in the military and aerospace market. However, the scarcity of semiconductors is anticipated to restrict the market growth during the forecast period. Moreover, growth in investments by several governments in space technology and defense modernization is expected to present new opportunities in the coming years.

Covid-19 Scenario

The memory segment to maintain its leadership status throughout the forecast period

Based on components, the memory segment held the highest market share in 2021, accounting for more than one-fourth of the global semiconductor in the military and aerospace market, and is estimated to maintain its leadership status throughout the forecast period. The shift in the trend toward automation and quick adoption of new technologies such as artificial intelligence, and machine learning through the deployment of software-defined and autonomous satellites have notably increased the demand for onboard memory chips. The segment is also projected to manifest the highest CAGR of 9.4% from 2022 to 2031.

The through-hole technology segment to maintain its lead position during the forecast period

Based on technology, the through-hole technology segment accounted for the largest share in 2021, accounting for around three-fifths of the global semiconductor in the military and aerospace market, and is projected to maintain its lead position during the forecast period. Through-hole mount provides stronger mechanical bonds than surface mount technology, making through-hole ideal for semiconductor components that might undergo mechanical stress in the military and aerospace sectors. The segment is also expected to portray the highest CAGR of 7.9% from 2022 to 2031.

Buy Complete Research Report Now - https://www.alliedmarketresearch.com/semiconductor-in-military-and-aerospace-market/purchase-options

The military segment to maintain its lead position during the forecast period

Based on end use, the military segment accounted for the largest share in 2021, accounting for around three-fourths of the global semiconductor in the military and aerospace market and is projected to maintain its lead position during the forecast period. In the military sector, semiconductor components are utilized in communication equipment, electronic surveillance & countermeasure, unmanned aerial vehicles, missile systems, and others. Additionally, the segment is also expected to portray the highest CAGR of 7.9% from 2022 to 2031.

The communication, navigation, global positioning system (GPS), and surveillance segment to maintain its lead position during the forecast period.

Based on application, the communication, navigation, global positioning system (GPS), and surveillance segment accounted for the largest share in 2021, accounting for around half of the global semiconductor in the military and aerospace market, and is projected to maintain its lead position during the forecast period. Semiconductors in military & aerospace sectors are utilized in several pieces of equipment which is utilized for communication, navigation & surveillance. For instance, radio frequency (RF) systems are used for communication in aircraft, radio, and others. In addition, space-based technologies, such as communications satellites, enable global telecommunications systems by relaying signals with voice, video, and data to and from one or many locations. Additionally, the segment is also expected to portray the highest CAGR of 8.4% from 2022 to 2031.

North America to maintain its dominance by 2031.

Based on region, North America held the highest market share in terms of revenue in 2021 and is likely to dominate the market during the forecast period. North America includes the U.S., Canada, and Mexico. The market in this region experienced notable growth due to multiple military modernization & enhancement programs and increased spending by government and commercial organizations such as the National Aeronautics and Space Administration (NASA). The region is also expected to witness the highest CAGR of 8.8% from 2022 to 2031.

Leading Market Players: -

Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/47855

Similar Reports We Have on Semiconductor Industry:

Automotive Semiconductor Market Research Report 2022-2030

Automotive Chip Market Research Report 2023-2035

Military Embedded System Market Research Report 2023-2035

Automotive Embedded Systems Market Research Report 2023-2035

High-Speed Biometric and Microchip Ticketing System Market Research Report 2023-2035

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975[email protected]Web: https://www.alliedmarketresearch.com/reports-store/aerospace-and-defence Follow Our Blog: www.theinnovativereport.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research