Aerospace Printed Circuit Board Market Analysis | 2022-2027

Market Insights

"The aerospace printed circuit board market is estimated to grow at a healthy CAGR of 5.3% during the forecast period to reach a value of USD 1.7 billion in 2027."

Wish to get a free sample? Register Here

Market Dynamics

Introduction

Printed Circuit Boards or PCBs are boards that have lines, paths, and traces to mechanically support and electrically connect different components and are used as a base in electrical components. The board may act as a support and be used as a wiring area for the components that are surface-mounted and socketed.

In the aerospace industry, a wide range of PCBs are used, such as rigid 1,2-sided, standard multilayer, flexible, rigid-flex, and HDI/Microvia/Build-up/ IC Substrate, depending upon the applications, like power supplies, power converters, radio communication, engine control systems, radars, health monitoring sensors, etc.

COVID-19 Impact

The aerospace industry is shifting focus towards the usage of advanced materials in order to make the aircraft lightweight yet durable with an ultimate aim to enhance fuel efficiency. PCBs used nowadays are experiencing miniaturization of components in order to establish weight and space savings. The aerospace industry requires stronger PCBs so as to withstand harsh conditions. Some of the key properties of PCBs targeting aerospace applications include high-temperature resistance, shock absorption, high durability, and reliability.

The outbreak of the COVID-19 pandemic shook the aerospace industry due to cancellations of orders, a drop in revenue passenger kilometers, and supply chain disruptions. As a result, the industry recorded a massive decline in the year 2020 across regions. However, PCBs are among the few products that recorded a minimal decline in the aerospace industry in 2020, credit goes to the shortage of PCB supplies, which triggered tier players to procure PCBs in large quantities in the uncertain supply scenario. The global aerospace printed circuit board market witnessed a decline of -4.3% in 2020 amid the pandemic. The market recovered from the disruption brought by the COVID pandemic in the year 2021 due to economic recovery, a gradual increase in RPKs, and a regain of normalcy in major cities with the end of lockdowns.

Market Drivers

The major factors driving the growth of the aerospace printed circuit board market are:

• The expected rise in the production rate of key aircraft programs.
• Market entry of upcoming aircraft programs.
• Increasing use of in-flight entertainment (IFE).
• Increasing electronic content in the latest aircraft programs.

Want to have a closer look at this market report? Register Here

Key Players

The aerospace PCB Market is highly consolidated with the top five players securing a mammoth share in 2021. All the major printed 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 them include new product development, development of a vast product portfolio, and execution of M&As to quickly gain market share. For instance, TTM Technologies acquired i3 Electronic, Inc. and Anaren Inc. in the year 2019 and 2018, respectively. The following are some of the key players in the aerospace printed circuit board market:

• TTM Technologies, Inc.
• Sanmina Corporation
• Amphenol Corporation
• AT&S
• Advanced Circuits, Inc.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Segment Analysis

By Platform Type

Based on the platform type, the market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, spacecraft, and Unmanned Aerial vehicles (UAV). Commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Increasing miniaturization of components, demand for lightweight yet durable components and parts; strong industry fundamentals; 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; and rebounding commercial and regional aircraft deliveries across regions, are the key factors propelling the demand for circuit boards in the commercial aircraft segment.

By Product Type

Based on the product type, the market is segmented into rigid 1,2-sided, standard multilayer, flexible, rigid-flex, High-Density Interconnect (HDI)/Microvia/build-up/IC substrate, and others. Standard multilayer held the largest share of the market as it offers various advantages (space and weight savings, high reliability and efficiency, and high assembly density) over other PCB types, making it the preferred choice for multiple applications. HDI/Microvia/build-up/IC substrate is expected to grow with the highest growth during the forecast period due to increasing demand for weight-reduction through miniaturization of components used in various applications. In addition to that, HDI/Microvia/build-up/IC substrate offers various advantages, such as higher performance and space-saving.

Want to know more about the market scope? Register Here

By Laminate Material Type

Based on the laminate material type, the market is segmented as FR4, polyimide, and others. FR4 is expected to remain the most preferred laminate type in the market during the forecast period. FR4 offers various advantages, such as high strength, excellent moisture resistance, weight savings, lower cost, and fire resistance, which make them the preferred material for a wide array of applications in the aerospace industry such as aerospace probes, navigation systems, radar systems, satellite tracking system, and airplane autopilot.

Regional Insights

In terms of regions, North America is expected to remain the largest market for aerospace printed circuit boards over the forecast period. Major factors, such as the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators, are driving the growth of the region’s market. In addition to that, most of the printed circuit board manufacturers have their presence in the region, such as TTM Technologies, Sanmina Corporation, and Amphenol Corporation, to address the emergent needs of OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Asia-Pacific is expected to witness the highest growth during the same period propelled by factors such as increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, the expected launch of COMAC C919, and rising aircraft fleet size.

Know which region offers the best growth opportunities. Register Here

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace printed circuit board market realities and future market possibilities for the forecast period of 2022 to 2027.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 12 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 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

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aerospace printed circuit board market is segmented into the following categories:

By Platform Type

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Helicopter
• Spacecraft
• Unmanned Aerial Vehicle

By Product Type

• Rigid 1,2-Sided
• Standard Multilayer
• Flexible
• Rigid-Flex
• High-Density Interconnect/Microvia/Build-Up/IC Substrate
• Others

By Laminate Material Type

• FR4
• Polyimide
• Others

By Application Type

• Power Supplies
• Power Converters
• Radio Communication
• Engine Control Systems
• Radars
• Health Monitoring Sensors
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Click here, to learn the market segmentation details.

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 to sales@stratviewresearch.com.