Stratview Research announces the launch of a new research report on Aerospace Printed Circuit Board Market by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, Spacecraft, and UAV), by Product Type (Rigid 1,2-Sided, Standard Multilayer, Flexible, Rigid-Flex, High-Density Interconnect/IC Substrate, and Others), by Laminate Material Type (FR4, Polyimide, and Others), by Application Type (Power Supplies, Power Converters, Radio Communication, Engine Control Systems, Radars, Health Monitoring Sensors, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace printed circuit board market realities as well as future possibilities for the forecast period of 2020 to 2025, covering the impact of COVID-19. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available and formulate growth strategies.
Aerospace Printed Circuit Board Market: Highlights
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.
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 to make the aircraft lightweight, yet durable, with an aim to enhance fuel efficiency. Similarly, PCBs used nowadays are experiencing miniaturization of components 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 PCB market will witness an enormous plunge from 2019 to 2020, before it starts recovering to regain 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 printed circuit boards market with huge short-term disruptions and long-term sustainability. The market for aerospace printed circuit boards is expected to reach US$ 1.3 Billion in 2025. Factors that may fuel the growth of the aerospace PCB market are an expected rebound in commercial and regional aircraft deliveries, increasing commercial aircraft fleet size, aging aircraft fleet, and introduction of new aircraft or fuel-efficient variants.
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Aerospace PCB 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.
Aerospace PCB Market: Insights by Laminate Material Type
"FR4 to maintain dominance due to its wide range of advantages."
Based on the laminate material type, 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 PCB 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, North America is anticipated to remain 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 many 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.
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Aerospace PCB Market: Competitive Landscapes
A Case of Moderate Concentration and M&As
The market for aerospace PCBs is moderately fragmented with several small players distributed around the world. The top three players capture the major chunk 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 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.
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:
Aerospace PCB Market, by Platform Type
Aerospace PCB Market, by Product Type
Aerospace PCB Market, by Laminate Material Type
Aerospace PCB Market, by Application Type
Aerospace PCB Market, by Region
Stratview Research has several high value market reports in the aerospace & defense industry. Please refer to the following link to browse through our reports:
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