Semiconductor in Military and Aerospace Market Spearheading Technological Evolution to Reach USD 10,020 MN by 2030, with 5.21% CAGR from 2020 to 2030

Semiconductor in Military and Aerospace Market Overview:

The semiconductor in military and aerospace market will demonstrate notable growth globally. The growing use of semiconductors in the aviation and defense sectors would drive market growth. Market Research Future (MRFR) states that the global semiconductor in military and aerospace market is poised to reach USD 10,020 MN by 2030, growing at a 5.21% CAGR during the assessment period (2020-2030).

Semiconductors are used in developing adequate capability for manufacturing and fabricating various aircraft parts. There is significant demand for avionics components, modern electronic systems, and niche technologies, as any modern fighter or other military aircraft needs modern avionics and advanced systems.

Continuous upgrades of these systems and the airframe & mechanical parts help overcome obsolescence and possess superior technologies. Also, growing technological upgrades support the development of capability for avionics systems and components that have indigenous parts, mainly chips or microprocessors.

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Over recent years, drones and unmanned aerial vehicles are increasingly being used for military and commercial purposes. The growing use of UAVs in the military and aerospace sectors creates significant semiconductor demand. The applications of drones are growing beyond military use to other sectors, such as logistics. Moreover, the growing use of UAVs to airlift and deliver aid packages to disaster-affected areas favors the semiconductor in military and aerospace market growth.

Competitive Analysis

The global semiconductor in military & aerospace market appears highly competitive, with many players forming a competitive landscape. Product development and close collaboration with end-users is an attractive strategy being pursued. Also, collaborations and partnerships with other players are key trends followed by industry players to expand their footprints & expertise and to reduce development times & costs.

Major Players:

Leading semiconductor in military & aerospace market players include Airbus SAS (France), BAE Systems (UK), General Dynamics Corporation (US), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Raytheon Company (US), Intel Corporation (US), Infineon Technologies AG (Germany), Texas Instruments Incorporated (US), and Microchip Technology Inc. (US), among others.

Market Segmentation

North America holds the largest semiconductor in military and aerospace market share globally. Growing military modernization & enhancement programs and defense budget drive the semiconductor in military and aerospace market growth. Besides, increased spending by public and private sectors to advance communication & navigation systems used in aerospace substantiates the semiconductor in military and aerospace market revenues. Also, the strong presence of well-established players and well-developed defense and aerospace sectors substantiates the region’s semiconductor in military and aerospace market shares.

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Regional Analysis

North America holds the largest semiconductor in military and aerospace market share globally. Growing military modernization & enhancement programs and defense budget drive the semiconductor in military and aerospace market growth. Besides, increased spending by public and private sectors to advance communication & navigation systems used in aerospace substantiates the semiconductor in military and aerospace market revenues. Also, the strong presence of well-established players and well-developed defense and aerospace sectors substantiates the region’s semiconductor in military and aerospace market shares.

Industry/Innovation/Related News:

July 19, 2023 — Boeing and Intel announced a collaboration to develop advanced microelectronics for the aerospace industry. These companies will work on developing ultra-small components, enabling autonomy and more secure computing. This new strategic collaboration will enable companies to advance semiconductor technology across the aerospace industry, creating next-generation microelectronics applications in AI, secure computing, and advanced flight capabilities for future products.

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