LONDON--(BUSINESS WIRE)--The global semiconductor market in the military and aerospace industry is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing upgrading and modernization of aircraft. Aircraft across the globe are undergoing modernization with the incorporation of advanced electronics and systems in the machines to better equip pilots for safe flying. Modern electronics are more accurate and weigh less.
This market research report on the global semiconductor market in the military and aerospace industry 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing use of UAVs as one of the key emerging trends in the global semiconductor market in the military and aerospace industry:
Global semiconductor market in the military and aerospace industry: Growing use of UAVs
A UAV, also known as a drone, is an aircraft that is not operated manually by a pilot. Drone pilots can remotely control these UAVs. The applications of drones are growing beyond military use to other sectors such as logistics. Besides, these UAVs are being used to deliver aid packages to disaster-affected areas.
“Many countries are using drones for military purposes. The increasing use of UAVs in many sectors such as military and logistics is expected to drive the demand for semiconductors. This would drive the growth of the market in focus during the forecast period,” says a senior analyst at Technavio for research on semiconductor equipment.
Global semiconductor market in the military and aerospace industry: Segmentation analysis
This market research report segments the global semiconductor market in military and aerospace industry by product (memory, logic, MOS microcomponents, and analog) and geography (APAC, EMEA, and the Americas).
The memory segment held the largest market share in 2017, accounting for over 31% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with approximately 63 % of the market share, followed by the Americas and EMEA respectively. APAC is expected to project the highest growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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