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    Aerospace Printed Circuit Board (PCB) Market | Size, Share, Trend & forecast Analysis 2020-25 | Covid-19 Impact Analysis

    Aerospace Printed Circuit Board (PCB) Market | Size, Share, Trend & forecast Analysis 2020-25 | Covid-19 Impact Analysis

    Aerospace Printed Circuit Board (PCB) Market | Size, Share, Trend & forecast Analysis 2020-25 | Covid-19 Impact Analysis
    Report code - SRAD291 Published On : Jun,2020 No. of Pages: 275
    Aerospace Printed Circuit Board Market Size, Share, Trend, Forecast, Competitive Analysis, See more...
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    Impact of COVID-19 on Aerospace Printed Circuit Board Pcb Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Aerospace Printed Circuit Board Pcb Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Aerospace Printed Circuit Board (PCB) Market: Highlights

    What are Printed Circuit Boards (PCBs)? Definition, Application, & Materials Used

    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 most often manufactured using FR4, which is a glass-fiber-reinforced epoxy material or polyimide. FR4 is used for rigid, whereas polyimide is used for flexible PCB laminate fabrication. A combination of both yields rigid-flex PCBs. 

    PCBs in Aerospace, Increasing Role of Advanced Materials & Miniaturization

    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 shifting its focus towards the usage of advanced materials in order to make the aircraft lightweight, yet durable, with an ultimate aim to enhance fuel efficiency. Similarly, PCBs used nowadays are experiencing miniaturization of components in order to establish weight and space savings.

    Prolonged Distress for Aerospace Industry with COVID-19 & its Impact

    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. 

    Stratview Research estimates that the aerospace circuit board market will witness an enormous plunge from 2019 to 2020, before it starts recovering to recoup its 2019 level by 2023.

    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 market fundamentals are strong, which will help the industry and its supply chain to get back on its feet. For instance, Boeing, in its 2019-2038 outlook, anticipated the total new commercial and regional aircraft deliveries to be 44,040 aircraft units during 2019-2038. 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 circuit boards market with huge short-term disruptions and long-term sustainability. The market for aerospace circuit boards is expected to reach US$ 1.3 Billion in 2025. 

    Factors that may fuel the growth of the aerospace circuit board market are:

    • an expected rebound in commercial and regional aircraft deliveries,
    • increasing commercial aircraft fleet size
    • aging aircraft fleet
    • the introduction of new aircraft or fuel-efficient variants.

     

    Aerospace Printed Circuit Boards (PCBs) Market Share Analysis

    Aerospace PCBs Market: Insights by Platform Type

    "Commercial aircraft is hit the worst, but will still remain dominant."

    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, commercial aircraft is anticipated to be the worst-hit one.

    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.

    • Increasing miniaturization of components,
    • Greater demand for lightweight yet durable components/parts
    • Expected market entry of new players such as COMAC and Irkut
    • Introduction of variants of existing best-selling aircraft programs such as A320neo and B777x
    • Expected rebound in commercial and regional aircraft deliveries

    Aerospace PCBs Market: Insights by Laminate Material Type

    "FR4 to maintain dominance due to its wide range of advantages."

    Based on the laminate material type, the market is segmented as FR4, polyimide, and others. FR4 is expected to remain the most dominant laminate type in the market during the forecast period. FR4 offers various advantages, such as high strength, excellent moisture resistance, weight saving, lower cost, and fire resistance, 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.

    Aerospace PCBs Market: Regional Insights

    North America, the largest market; Asia-Pacific, the fastest growing one

    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, North America looks to be one of the worst-hit markets.

    Despite being hard-hit by the pandemic, the North America is anticipated to be the largest market 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 a large number of aircraft OEMs, tier players, PCB suppliers, and raw material suppliers would help in healing the dented growth of the country’s market.

    Asia-Pacific is likely to heal up with the fastest pace 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.

    Aerospace PCBs Market: Competitive Landscapes

    A Case of Moderate Concentration and M&As

    The market for aerospace circuit boards is moderately fragmented with several small players distributed around the world. The top three players capture the major chunk of the market. 

    The major companies are performing mergers & acquisitions to quickly gain the larger chunk of the market as well as to tap the growing opportunities in the emerging markets. For instance; TTM Technologies, one of the major players in the global PCB market, acquired its competitor Viasystems at an approximate value of US$ 930 million in 2012, establishing a clear leadership in the aerospace circuit board market, not only in North America but across the globe.

    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. 

    The key players in the aerospace circuit board market are 

    • Advanced Circuits, Inc.
    • Amitron Corporation
    • Amphenol Printed Circuits, Inc.
    • Eltek, Epec, LLC
    • Firan Technology Group Corp.
    • IEC Electronics, Corp.
    • Sanmina Corporation
    • SMTC Corporation
    • TTM Technologies, Inc.

    All the major circuit board 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 the development of new products addressing unmet needs, adopting more customer-centric approach rather than product-centric approach (custom-designed and application-specific products), execution of M&As to quickly gain market share, and develop vast product portfolio covering a good blend of all the major PCB types used not only in the aerospace industry but across several end-use industries.

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

     

    Report Features

    This strategic assessment report, from Stratview Research, studies the changing market dynamics, evolving competitive landscapes, emerging trends, unmet market needs, etc. in the aerospace circuit boards market in order to estimate their possible impacts on the market size and growth in the coming five years. The report provides detailed analysis including the short as well as long-term revenue loss of the aerospace circuit boards market due to the pandemic. 

    Also, the report estimates the total opportunity loss by comparing pre-COVID and post-COVID market scenarios. The report proves to be extremely beneficial, particularly to those companies, willing to build short-term strategies with an aim to protect themselves from the current harsh market environment. The report also portrays the long-term market view (post-pandemic), identifying future growth avenues for the market participants and other market stakeholders, helping them to align themselves based on attractive market segments.

    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 into 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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Market Segmentation

    The aerospace circuit board market is segmented into the following categories. 

    Aerospace Circuit Board Market, by Platform Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Spacecraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Circuit Board Market, by Product Type

    • Rigid 1,2-Sided (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Standard Multilayer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Flexible (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Rigid-Flex (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • HDI/IC (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Circuit Board Market, by Laminate Material Type

    • FR4 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyimide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Circuit Board Market, by Application Type

    • Power Supplies (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power Converters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Radio Communication (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Engine Control Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Radars (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Health Monitoring Sensors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Circuit Board Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Spain, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to five players)
    • SWOT analysis of key players (up to five players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


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