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The Global semiconductor market in military and aerospace industry to grow at a CAGR of 7.53% during the period 2018-2022.
Global Semiconductor Market in Military and Aerospace Industry 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. To calculate the market size, the report considers the revenue generated from the sales of products such as memory, logic, MOS microcomponents, analog, and others.
According to the report, the increasing upgrading and modernization of aircraft will drive the market growth. Globally, aircrafts are being modernized with the incorporation of advanced electronics and systems in the machines to equip pilots for safe flying. Modern electronics are more accurate and weigh less, that aids in reducing the fuel usage and emissions.
The growing use of UAVs will be a key trend driving the market growth. An UAV or drone, are aircrafts that are remotely controlled by drone pilots. In addition to military sector, these drones are finding their applications in sectors such as logistics. These UAVs are used to deliver aid packages to disaster-affected areas.
Further, the report states that the high cost associated with manufacturing will impact the market growth. In addition to the automotive sector, the semiconductor industry is capital-intensive owing to the requirement of significant investment in manufacturing of semiconductors. Factors such as facilities and equipment, manufacturing equipment, use, and raw materials, increase the cost of manufacturing.