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Aerospace Printed Circuit Board Market Size, Impacted by COVID-19, to Reach US$ 1.3 Billion in 2025, Says Stratview Research
Printed Circuit Boards (PCBs) are boards that have lines, paths, and traces to electrically connect different components and are used as a base in electrical components. The board may act as a support and can be used as a wiring area for the components that are surface-mounted and socketed. These laminates are , which is a FR4 is used for rigid, whereas polyimide is used for flexible PCB laminate fabrication. A combination of both yields rigid-flex PCBs.
In the aerospace industry, a wide range of PCBs is used, such as rigid 1,2-sided, standard multilayer, flexible, rigid-flex, and HDI/ IC Substrate. The usage of different types of PCBs depends upon the application it is serving. The aerospace industry is to make the aircraft lightweight, yet durable, with an aim to enhance fuel efficiency. Similarly, PCBs used nowadays are experiencing to establish weight and space savings.
The year 2019 was challenging for the aerospace industry, especially for commercial aerospace, with several setbacks such as the grounding of B737 Max, P&W 1100G engine series failure (A320neo), delayed deliveries of upcoming aircraft programs such as B777X, and revised production rates of key aircraft programs, A350XWB and B787. It negatively impacted the entire supply chain including the demand for circuit boards.
These times of distress have been worsened in 2020 with the global outbreak of COVID-19, posing daunting new challenges and affecting the industry worldwide. Rapid cancellation of orders, sharp drop in revenue passenger kilometers, and sudden supply-chain disruptions have imposed a significant impact on the market, forcing mass temporary production shut-downs, layoffs, salary slashes, revised production rates, and cash burn-outs for stakeholders across the value chain.
Similar to how the industry has dealt with crises such as SARS, MERS, 9/11, and The Great Recession in the past, it is likely that there is a requirement of at least a couple of years before the industry heads towards healing.
As happened several times in the past (SARS, MERS, The Great Recession, etc.), the resilient aerospace industry is expected to get back on its feet in the long-term. The , which will help the industry and its supply chain to get back on its feet. For instance, Similarly, Airbus anticipated the 39,210 commercial and regional aircraft deliveries during the same period.
The impact of such trends can also be witnessed in the printed circuit boards market with huge short-term disruptions and long-term sustainability. Factors that may fuel the growth of the aerospace PCB market are an in commercial and regional aircraft deliveries, increasing commercial aircraft , , and introduction of new aircraft or .
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Based on the platform type, the aerospace circuit board market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, spacecraft, and UAV. The demand for circuit boards is affected in all the platform types; however, . Despite an expected severe blow in 2020, commercial aircraft is expected to maintain dominance in the coming five years. Factors which will help regain the demand for PCBs in commercial aircraft in the long run are listed below.
Based on the laminate material type, in the market during the forecast period. FR4 offers various advantages, such as which makes it the most preferred material for a wide array of applications in the aerospace industry including but not limited to aerospace probe, navigation systems, radar systems, satellite tracking system, and autopilot.
The impact of the pandemic has been worst with each region registering declines in double digits in the first quarter of 2020. It is visible that the market conditions would be even worse in the second half of the year. Among the regions,
Despite being hard-hit by the pandemic, in the world during 2020-2025. Post pandemic, the USA is expected to rebound quickly and will act as the growth engine of the region's market. The presence of many aircraft OEMs, tier players, PCB suppliers, and raw material suppliers would help in healing the dented growth of the country's market.
in the post-pandemic market scenario. The region's demand will be driven by a host of factors including an expected increase in the demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China for B737, A320, A330, and A350 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi SpaceJet); rising aircraft fleet size; and increasing military expenditure by key countries such as China and India .
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The market for aerospace PCBs is with several small players distributed around the world. The of the market. The supply chain of this market comprises several nodes including raw material suppliers, laminate manufacturers, PCB manufacturers, aerospace component manufacturers, tier players, OEMs, airlines, aircraft leasing companies, and MRO companies.
Key players in the aerospace PCBs market are
All the major PCB manufacturers have different growth strategies based on their synergies, product portfolio, market reach, geographical presence, and market positioning. However, some of the most common strategies adopted by most of them are higher focus towards , adopting more c (custom-designed and application-specific products), to quickly gain market share, and develop covering a good blend of all the major PCB types used not only in the aerospace industry but across several end-use industries.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the aerospace printed circuit board market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
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