According to a new research report by Global Market Insights Inc., the Hermetic Packaging Market size is estimated to surpass USD 5.5 billion by 2027. Stringent standards coupled along with the availability of substitutes might hamper the growth of the global industry in the near future.
Increasing expenditure in the U.S. military & defense sector is one of the major factors driving the global hermetic packaging market growth. It can be majorly attributed to the recovery in the U.S. defense budget, heightened global risks, changing political scenarios, etc. In 2014, military & defense expenditure in the U.S. was around USD 630 billion. It gradually started to decrease and was accounted for just over USD 605 billion. The industry witnessed a growth of more than 4% between 2017 and 2018 and the expenditure exceeded USD 630 billion.
Research & development spending by the Department of Defense and NASA grew by over 25% between 2017 and 2018. In the military & defense sector, hermetic packaging is majorly used for the packaging of electronic components that are widely used in thermal imaging systems, laser range finders, radar systems, various electronic warfare equipment, etc. Furthermore, development in the U.S. military & defense sector will augment the demand for hermetic packaging in the coming years.
Browse key industry insights spread across 200 pages with 179 market data tables & 24 figures & charts from the report, “Hermetic Packaging Market Size, By Configuration (Multi-layer Ceramic, Pressed Ceramic, Metal Can), By Product (Ceramic-to-Metal, Glass-to-Metal, Passivation Glass, Transponder Glass, Reed Glass), By Application (Sensors, Lasers, Transistors, MEMS (Microelectromechanical) Switches, Airbag Initiators, Photodiodes), By Industry (Military & Defense, Aerospace, Automotive, Medical, Telecommunication), Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Landscape & Forecast, 2021 – 2027” in detail along with the table of contents:
Multi-layer ceramic configuration is likely to exceed USD 1.8 billion by 2027. This configuration allows the package designer to introduce electrical enhancements in the package body. For instance, shield planes are used to reduce controlled characteristic impedance & the cross-talks of the signal lines and ground & power planes that reduce induction are introduced in the multi-layer packaging configuration. Owing to these advantages associated with the configuration, multilayer ceramic packaging is gaining significant popularity in newer hermetic applications.
Ceramic-to-metal sealing product type will hold more than 30% share in the global hermetic packaging market in 2027. Ceramic-metal sealings are widely popular due to their mechanical strength and thermal advantages. This product type is widely used in implantable electronic devices, aircraft engines, seals for fuel line assemblies, gas turbine engine thermocouples, fire detection system terminations, and other high-stress locations.
MEMS switch application held more than 20% share in the global hermetic packaging markt in 2020. MEMS or Micro-Electro-Mechanical switch is a miniaturized electro-mechanical and mechanical element made by using microfabrication techniques. It offers a very high Figure Of Merit (FOM) along with low-power consumption and high linearity. Military & defense applications of MEMS switch include satellites, radars, communication systems, etc. In networking & infrastructure, it is used in wireless communication such as LAN, PAN, satellites, etc.
Aerospace will account for over 20% share in the global hermetic packaging market in 2027. Over the last few years, the world has witnessed a substantial rise in air transport & freight and air passengers. It can be attributed to robust economic development, improvement in living standards, favorable demographics, increasing disposable income, etc. These trends will drive the global aerospace industry in the coming years and will trigger product demand from this end-use sector during the forecast period.
Asia Pacific is likely to grow at a CAGR of over 9% during the study time span. Robust economic development, rapid industrialization, rising urbanization, development in the spending power of the middle-class populace, etc., are some of the factors driving the growth of major end-use sectors in the region. Emerging economies and developed countries are spending on technological advancements and to elevate the standards of the medical industry. Favorable government norms & initiatives, private & public investments, rising focus on research & development will drive the growth of major-end use sectors in the region.
Some prominent participants in the hermetic packaging industry are Special Hermetic Products Inc., SGA Technologies Ltd., Renesas Electronics Corporation, Winchester Interconnect, Legacy Technologies Inc., Micross, Willow Technologies, EGIDE, KYOCERA Corporation, Materion Corporation, Teledyne Technologies Incorporated, Texas Instruments Incorporated, AMETEK Inc., and SCHOTT AG.
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