Aerospace & Defense PCB Global Market Report 2024

The aerospace & defense pcb market size has grown steadily in recent years. It will grow from $1.33 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth observed during the historical period in the aerospace and defense PCB industry can be attributed to several factors. These include the increasing complexity of avionics systems, the ongoing trend of miniaturization in electronics, a focus on lightweight materials for improved efficiency, and the rising demand for commercial aircraft. These factors collectively influenced the development and adoption of specialized printed circuit boards to meet the evolving requirements of aerospace and defense applications during that timeframe.

The aerospace & defense pcb market size is expected to see steady growth in the next few years. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The anticipated growth in the forecast period for the aerospace and defense PCB industry can be attributed to various key factors. These include the rise of electric and hybrid aircraft, the expansion of space exploration programs, increased utilization of unmanned systems (such as drones and UAVs), growing demand for satellite systems, and the increasing need for high-speed and high-frequency PCBs to support advanced electronics. Major trends expected in the forecast period include the adoption of flexible and rigid-flex PCBs, the integration of High-Density Interconnect (HDI) technologies, the use of advanced materials for enhanced performance, the integration of embedded components for compact designs, and the adoption of rapid prototyping and iterative design methodologies.

The escalating demand for both commercial and military Unmanned Aerial Vehicles (UAVs) is poised to be a significant catalyst driving the growth of the aerospace and defense Printed Circuit Board (PCB) market. Military UAVs, also termed as military drones, are unmanned aircraft employed by the military for various purposes, often operating via remote piloting or autonomous flight utilizing pre-programmed plans or artificial intelligence. Aerospace and defense PCBs play a pivotal role in the development and construction of military UAVs, ensuring the safe and reliable functioning of these sophisticated systems, especially in challenging environments and missions. Notably, as of December 2022, the global drone market was valued at $43 billion, where personal drones accounted for 94% of unit sales, as reported by Skykam Technical Inspections. Additionally, the Federal Aviation Administration recorded 855,860 registered drones in the United States in 2023. This surge in demand for both commercial and military UAVs substantiates the driving force behind the growth of the aerospace and defense PCB market.

The uptick in military expenditure stands poised to further propel the growth trajectory of the aerospace and defense PCB market. Military expenditure encompasses the financial resources allocated by nations to their defense and military activities within a specific period. The heightened demand for sophisticated electronic components, including Printed Circuit Boards (PCBs), within the aerospace and defense sectors correlates with the surge in military spending. PCBs play a pivotal role in driving cutting-edge defense technologies such as radar systems, communication equipment, and guidance systems. The Stockholm International Peace Research Institute (SIPRI) reported a real-term surge of 3.7% in global military spending in 2022, reaching a record $2240 billion, with China's military budget witnessing a consistent increase for the 26th consecutive year. Hence, the escalating military expenditure emerges as a key driver fueling the growth of the aerospace and defense PCB market.

Technological advancements represent a noteworthy trend gaining traction within the aerospace and defense PCB markets. Notable enterprises operating in this sphere are embracing novel technologies to bolster their market standing. For example, in June 2022, PCB Technologies Ltd., an Israel-based company specializing in printed circuits and electronic device assembly, introduced the iNPACK designed for aerospace and defense PCBs. This innovative technology is uniquely engineered to enhance signal integrity and minimize undesired inductance effects. Leveraging robust components for improved functionality and embedded coins for efficient heat dissipation, iNPACK stands as a testament to ongoing advancements within the aerospace and defense PCB market.

Prominent enterprises in the aerospace and defense Printed Circuit Board (PCB) market are concentrating on innovative products featuring board-in-board interconnections to drive revenue growth in their sector. Board-in-board interconnections represent a distinctive method of connecting printed circuit boards (PCBs) devoid of additional components or soldering. Notably, in March 2022, Ernest Orlando Lawrence Berkeley National Laboratory, a renowned US-based scientific research facility, introduced a cutting-edge board-in-board interconnection technology. This novel PCB technology boasts the capability to manage high voltages, leveraging well-established and cost-effective manufacturing techniques. It presents cost advantages over pin connector alternatives, eliminating the necessity for soldering, and offers customization into 3-D shapes. Particularly suitable for high-stress environments and situations involving device vibration, this groundbreaking technology finds potential applications in thin sensor probes and critical aviation electronics. Notably, board-in-board interconnections have revolutionized PCB technology, exhibiting superior resilience against higher voltages and mechanical pressures compared to existing miniature connector technologies.

In December 2021, Latecoere, a France-based company specializing in aerospace structure production, undertook the acquisition of Malaga Aerospace Defense and Electronic Systems, the financial details of which remain undisclosed. This acquisition by Latecoere is poised to enhance its capacity to fulfill the comprehensive product needs of its Electrical Wiring Interconnection Systems (EWIS) user base. Malaga Aerospace Defense and Electronic Systems, based in Spain, specialize in manufacturing microelectronic devices catering to defense, commercial aviation, and industrial end markets with a focus on printed circuit boards. The integration of Malaga Aerospace Defense and Electronic Systems into Latecoere's portfolio signifies a strategic move aimed at bolstering the company's offerings and expanding its footprint in the aerospace and defense PCB domain, catering to diverse industry demands.

Major companies operating in the aerospace & defense pcb market report are Epec Engineered Technologies LLC, Amitron Corporation, Corintech Ltd., Delta Circuits Inc., MEDIATEK INC., Advanced Circuits, Advanced Circuits Inc., SCHMID Group, Technotronix, Surface Mount Technology Centre Corporation, Sanmina Corporation, IEC Electronics Corporation, Firan Technology Group Corporation, Amphenol Printed Circuits Inc., Unimicron Technology Corporation, Microsemi Semiconductor, InterCAX LLC, Mer-Mar Electronics, Coat-X AG, IDEAS Engineering & Technology, Q-FLEX Industries, Rogers Corporation, Isola Group, Park Electrochemical Corp., Ventec International Group, Arlon Electronic Materials, Taconic Advanced Dielectric Division, Wurth Electronics Midcom Inc., Cirexx International, Multilayer Prototypes Inc., Sierra Circuits Inc., Sunstone Circuits, Bittele Electronics Inc..

North America was the largest region in the aerospace & defense PCB market in 2023. Asia-pacific is expected to be the fastest-growing region in the aerospace and defense PCB market report forecast period. The regions covered in the aerospace & defense pcb market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aerospace & defense pcb market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of aerospace and defense PCBs include single-sided, double-sided, and multilayer boards. A single-sided PCB has all its components and traces assembled on one side of the board. Various designs of PCBs, including rigid PCBs, flexible PCBs, rigid-flex PCBs, and high-density interconnect PCBs, cater to different aerospace applications. These applications span across various aircraft types, including narrow-body aircraft, wide-body aircraft, regional aircraft, general aviation, helicopters, military aircraft, Unmanned Aerial Vehicles (UAVs), and spacecraft. The diverse applications of aerospace and defense PCBs include radar installations, power supplies, power conversion, radio communication, lighting systems, engine control systems, and others.

The aerospace & defense PCB market research report is one of a series of new reports that provides aerospace & defense PCB market statistics, including aerospace & defense PCB industry global market size, regional shares, competitors with an aerospace & defense PCB market share, detailed aerospace & defense PCB market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace & defense PCB industry. This aerospace & defense PCB market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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