The hermetic packaging market has witnessed enormous developments in the past few years. The market in APAC is expected to capture the largest share in 2017, followed by North America. The market in APAC is expected to grow at the highest rate between 2018 and 2023. Higher growth rates of APAC and North America regions are mainly attributed to the presence of a large number of manufacturing companies across these regions. The hermetic packaging market is highly competitive with a number of big, as well as small players.
The aeronautics and space industry is expected to grow at the highest rate between 2018 and 2023
There would be a significant rise in the hermetic packaging market for the aeronautics and space industry between 2018 and 2023. A high number of satellite launches, such as Matter Particle Explorer in December 2015 by China, is one of the key driving factors for the said market. In October 2015, Indian Space Research Organisation (ISRO) announced a joint venture with NASA and JAXA for initiating its own space observatory mission to get a closer look at the galaxies in the outer space. Significant interest for space research in the APAC countries, such as China and India, is expected to propel the market for the aeronautics and space industry in APAC.
The hermetic packaging market in APAC expected to capture the largest market share during the forecast period
The market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The increasing energy needs backed by the high GDP growth rate in developing countries such as China and India is creating opportunities for the manufacturers of hermetically packaged components in APAC. Countries such as China, Japan, and India are now stepping up in space research. The contribution of these countries in space-related activities, such as satellite launches and space exploration missions, is also expected to propel the hermetic packaging market further.
The hermetic packaging market was dominated by Teledyne Microelectronics (US), SCHOTT AG (Germany), AMETEK (US), Amkor Technology (US), Texas Instruments (US). Product launches and acquisitions were the prevailing strategies adopted by the top players to capture a larger share in the hermetic packaging market.
Ask for PDF Brochure @ : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=18037377
SCHOTT AG (Germany) is one of the market leaders in the hermetic packaging market. The company has more than 130 years of experience in outstanding development, glass materials, and technology expertise and offers a broad portfolio of high-quality products and intelligent solutions. It is an innovative enabler for many industries, including the home appliance, pharmaceutical, electronics, optics, automotive, and aviation industries. SCHOTT AG is among the companies in the world that develop and manufacture ultrathin glasses that offer numerous advantages, and have excellent growth potential for use in the electronics and semiconductor industries. Product launches has been a key strategy adopted by the company for dominating the hermetic packaging market. For instance, in September 2015, the company developed a special coating that protects glass-to-metal seals against corrosion, even after being subjected to salt spray tests for 24 hours.
Teledyne Microelectronics (US), being one of the key players in hermetic packaging, has a well-established product portfolio focused on aerospace applications. The company offers multichip modules and microelectronics packaging solutions for spacecraft, satellites, and launch vehicles. For instance, Transmit/Receive Module (TRM) and Up/Down Microwave Module (UDMM) are two modules installed on Mars Science Laboratory Curiosity rover. Teledyne Microelectronics had assisted Jet Propulsion Laboratory of National Aeronautics and Space Administration (JPL NASA) (US) by providing extensive manufacturing designs for these two modules. The company is certified for MIL-PRF-38534 Class H and K standards by the Department of Defense, US, and follows these standards for manufacturing highly reliable microelectronic multichip modules.
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States