PUNE,India, December 5, 2016 /PRNewswire/ --
According to the new market research report "Hermetic Packaging Market by Configuration (Multilayer Ceramic, Metal Can, and Pressed Ceramic Packages), Type (Ceramic-Metal and Glass-Metal Sealing), End-User Industry (Military & Defense and Aeronautics & Space), Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow from USD 2.91 Billion in 2016 to USD 4.29 Billion in 2022, at a CAGR of 6.68% during the forecast period.
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Browse 66 market data Tables and 62 Figures spread through 164 Pages and in-depth TOC on "Hermetic Packaging Market"
http://www.marketsandmarkets.com/Market-Reports/hermetic-packaging-market-18037377.html
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The need of a packaging method which can protect highly sensitive electronic components for many years and the growing demand of hermetically packaged electronic components from the end-user industries such as automobile electronics and aeronautics & space are some of the major drivers for the hermetic packaging market.
Multilayer ceramic packages are expected to lead the global hermetic packaging market between 2016 and 2022
Multilayer ceramic packages held a major share of the Hermetic Packaging Market in 2015. The key factor driving this market has been the high adoption rate of the multilayer ceramic packages for high-frequency applications such as data communication, wireless communication, and optical communication because they provide hermetic sealing and enable a large number of electrical feedthroughs within very small spaces.
The market for aeronautics and space industry is expected to grow at the highest rate between 2016 and 2022
There would be a significant rise in the market for the aeronautics and space industry between 2016 and 2022; the event of satellite launch known as Matter Particle Explorer in December 2015 has driven the hermetic packaging market in China for the aeronautics and space industry. In October 2015, Indian Space Research Organisation (ISRO) announced a joint venture with National Aeronautics and Space Administration (NASA) and Japanese Aerospace Exploration Agency (JAXA) for initiating its own space observatory mission to get a closer look of the galaxies in outer space. Such significant interest shown by the Asia-Pacific (APAC) countries such as China and India in space research is expected to fuel the market for the aeronautics and space industry.
The hermetic packaging market in the APAC region is expected to capture to largest market share during the forecast period
The market in the APAC region is expected to grow at the highest CAGR between 2016 and 2022. 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 region. 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 drive the hermetic packaging market further.
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The present market is dominated by the players such as SCHOTT AG (Germany), Teledyne Microelectronics (U.S.), AMETEK, Inc. (U.S.), Texas Instruments Incorporated (U.S.), and Amkor Technology (U.S.), among many others.
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