The market for acoustic devices was valued at USD 83.4 million in 2015 and is expected to foresee significant gains on account of technological advancement regarding smart electric guitars in developed countries including Germany and UK
Aerospace & defense sector is projected to grow at a CAGR of 5.3% from 2016 to 2025. Over the past few years, aerospace OEMs including Boeing, GE Aerospace, and Lockheed Martin have launched new aircraft as a result of increasing commercial fleets on a global level, which is expected to promote the usage of piezoelectric materials over the next nine years.
Asia Pacific is projected to witness growth at a CAGR of 4.5% from 2016 to 2025. Supporting government policies in China and India to promote investments within the domestic healthcare sector is expected to improve the production of pharmaceutical drugs and devices and thus likely to fuel demand over the forecast period.
Major manufacturers include PI Ceramic, Harris Corporation, and APC International, which are concentrating on product innovation where research institutes are developing products that can be commercially utilized. For instance, in July 2014, the researchers of Delft University, Netherlands, announced the development of PZT Composite Touch Sensors for integration with Flexible OLED Technology.
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