Boston, MA -- (SBWIRE) -- 01/06/2017 -- 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

"The hermetic packaging market projected to grow at a significant rate"

The hermetic packaging market is expected to grow from USD 2.91 billion in 2016 to USD 4.29 billion by 2022, at a CAGR of 6.68% during the forecast period. The need of a packaging method which can protect highly sensitive electronic components for many years and the growing demand of hermetically packaged components from the end-user industries such as automobile electronics and aeronautics and space are some of the major drivers for the hermetic packaging market. However, stringent military standards for hermetic packaging is a key factor that is restraining the growth of the hermetic packaging market.

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"Military and defense industry expected to capture largest market share"

The military and defense industry is expected to capture the largest market share among all the industries. The high defense budget allocation by the North American countries such as the U.S., Canada, and Mexico and developing countries in APAC region such as India and China for countering terrorism and border security has been the key driving factor for the military and defense industry market.

"The market for MEMS switches is estimated to grow at the highest rate between 2016 and 2022"

Market for microelectromechanical systems (MEMS) switches is expected to grow at the highest rate during the forecast period among all other applications. The increase in demand of complete automatization of automobiles in automotive sector is expected to propel the growth of the MEMS switches market during the forecast period. However, the transistors are expected to capture the largest market share during the forecast period. The hermetically sealed transistors have been adopted majorly for designing telecommunication circuits and home appliances which has been the key driving factor for the transistor market.

"APAC is the major region for the hermetic packaging market"

The APAC market is expected to hold the largest share in 2016 and is estimated to grow at the highest rate. With the increasing population, energy needs of the countries in the APAC region are also expected to increase. Along with this, the developing countries such as China and India are expected to sustain the high GDP growth rate. These factors are expected to create opportunities for the manufacturers of hermetically packaged components in APAC region. Further, the countries such as China, Japan, and India are now striving to compete with the countries across the globe in aeronautics and space industry. For instance, in August 2016, China launched the first-ever quantum satellite in an effort to develop a communications system that cannot be hacked. Such efforts by the APAC countries to compete with the countries across the globe in space industry are also expected to drive the hermetic packaging market during the forecast period.

Breakdown of profile of primary participants:

-By Company Type: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
-By Designation: C-level Executives = 35%, Directors = 25%, and Others = 40%
-By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%

Major players in the hermetic packaging market are Teledyne Microelectronics (U.S.), SCHOTT AG (Germany), AMETEK, Inc. (U.S.), Amkor Technology (U.S.), Texas Instruments Incorporated (U.S.), Micross Components, Inc. (U.S.), Legacy Technologies Inc. (U.S.), KYOCERA Corporation (Japan), Materion Corporation (U.S.), and Willow Technologies (U.K.).

Research Coverage:

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