Hermetic Packaging Market Size By Configuration (Multi-layer Ceramic, Pressed Ceramic, Metal Can), By Product (Ceramic-Metal, Glass-Metal, Passivation Glass, Transponder Glass, Reed Glass), By Application (Sensors, Lasers, Transistors, MEMS (Microelectromechanical) Switches, Airbag Initiators, Photodiodes),By Industry (Military & Defense, Aerospace, Automotive, Medical, Telecommunication), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026
Hermetic Packaging Market is likely to reach approximately USD 6 billion by 2026. Significant development and expenditure in the North America healthcare electronics sector will positively influence the regional demand for hermetic packaging.
Some major findings of the hermetic packaging market report include:
Expansion in the U.S. military & defense and aerospace sectors coupled with rising military expenditure to boost product demand
Multi-layer ceramic packages are likely to gain considerable market share by 2026 due to excellent temperature stability and compact design of circuit boards
Glass metal sealing type product dominated the market owing to its exceptional insulation properties coupled with excellent electrical integrity
Transistors garnered the highest market share on account of increasing adoption of hermetic packaging for its sealing applications
Major players operating in this market are SCHOTT AG, KYOCERA Corporation AMETEK Inc., AMKOR Technology, Teledyne, and Texas Instrument
Rising middle class population, increasing consumer expenditure on flights, and evolving airline industry have substantially propelled the commercial aircrafts sector. For instance, the air travel market is predicted to be about 2.5 times larger over the next two decades, and the global commercial jet fleet is likely to double in size with traffic growth of over 4.5% by 2038. Positive outlook of commercial aircraft industry is likely to augment the consumption of hermetic connectors in sensors used in fuel systems and ensure the safety of delicate electronics.
In addition, developments in the North American healthcare sector and increasing expenditure for better medical services in the U.S. are further likely to boost the product demand. The product is primarily utilized in the implantable medical devices, namely –pacemakers, micro-housings for miniature components in endoscopic applications, and cochlear implants. The U.S is also a leading country in R&D investments for medical devices accounting for 7% of the sales revenue, and the medical device market in the U.S. was the largest with over USD 150 billion in 2017.
Pressed ceramic packages configuration segment is likely to grow at a CAGR of around 6% during the forecast period as it is relative cost-effective than multilayer ceramic packages. Reed glass type is projected to account for USD 400 million in hermetic packaging market by 2026 owing to its high reliability and excellent wear resistance. Reed switches are employed in automotive sector as they open and close electrical systems without any external mechanical influence.
MEMS switches application is likely to register a healthy CAGR of over 8% in the hermetic packaging market over the following years. These switches are very delicate and possess moving structures and interferes with the environment, thus, requiring hermetic packaging. The medical industry is estimated to register a robust CAGR of over 7% during the assessment period. Hermetic packaging offers efficient sealing of pacemakers, cardiac implants, UV lasers for surgical drilling, and defibrillators with high functionality characteristics.
Prominent industry players in the hermetic packaging market includes Materion Corporation, SCHOTT AG, Texas Instruments, Willow, Teledyne Technologies, Renesas Electronics Corporation, AMETEK.Inc., Legacy Technologies, Micross, EGIDE, KYOCERA Corporation, Winchester Interconnect, Special Hermetic Prod., and SGA Technologies. etc. Companies are engaged in acquisition and product innovation for expanding their business operations and gaining profitable growth.
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