Global semiconductor in the military and aerospace sector is anticipated to generate US$12.9 billion in 2031, witnessing a CAGR of 7.6% from 2022 to 2031, according to a recent report published by Allied Market Research.
The application of radiation-tolerant semiconductor components, according to the report, plays a part in boosting the growth of semiconductors in the military and aerospace market. Nevertheless, market growth in the sector continues to be restricted by shortage of semiconductors.
By components, according to Allied Market Research, the memory segment held the highest market share in 2021, accounting for more than one-fourth of the global semiconductor in the military and aerospace market. The deployment of software-defined and autonomous satellites has notably increased the demand for onboard memory chips. The research firm projects that the memory segment will have a CAGR of 9.4% from 2022 to 2031.
By technology, the report expects through-hole technology (THT) to have the highest CAGR of 7.9% from 2022 to 2031, thanks to the stronger mechanical bonds offered by THT compared to surface-mount technology. THT is ideal for semiconductor components that might undergo mechanical stress in the military and aerospace sectors. Back in 2021, THT already had the largest share in the military and aerospace market in terms of market share.
By application, Allied Market Research points out that around half of the global semiconductor in the military and aerospace market went into communication, navigation, surveillance and GPS applications in 2021. Together, the segment will have the highest CAGR of 8.4% from 2022 to 2031.
The report also lists the leading semiconductor players in the military and aerospace market. They include: Analog Devices, Infineon Technologies, Microchip Technology, Northrop Grumman Corp., ON Semiconductor Corp., Raytheon Technologies Corp. Teledyne Technologies, Texas Instruments and Advanced Micro Devices.
