Global Market Insights, Inc. has recently added a report on
Hermetic Packaging Market which
provides a succinct analysis of the market size, revenue forecast, and the
regional landscape of this industry. The report also highlights the major
challenges and current growth strategies adopted by the prominent companies
that are a part of the dynamic competitive spectrum of this business sphere.
Growing application of hermetic seals in
various industry verticals, such as military & defense, aerospace,
healthcare, automotive, electronics, and manufacturing industries is likely to
drive global hermetic packaging market outlook.
Functionality of some products and
appliances is disrupted by harsh environment and to preserve their
functionality, hermetic seals are used. Hermetic packages find applications in
semiconductors or in places where components need protection from pressure,
electricity, or vacuum risks. Hermetic packaging market is forecast to the
cross USD 6 billion mark by 2026.
Evolving airline industry along with
rising consumer expenditure on flights has accelerated the expansion of
commercial aircrafts sector. As per estimates, the air travel business will be
2.5 times larger over the next 2 decades and the global commercial jet fleet is
estimated to double in size along with growth of air passenger traffic by more
than 4.5% by 2038.
Hermetic connecters are expansively used
in aircraft systems to ensure the safety of delicate electronics. Growing
consumption of hermetic connectors in sensors and fuel systems of aircrafts is
estimated to provide impetus to the industry growth.
Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/hermetic-packaging-market
In the healthcare sector, hermetic
packaging is commonly utilized in implantable medical devices, such as micro-housings
for miniature components in endoscopic applications, cardiac implants,
pacemakers, defibrillators, and UV lasers for surgical drilling.
Expansion of North American healthcare
sector along with increasing expenditure on advanced medical services across
the United States may result in product proliferation. In 2017, the medical
device industry in the U.S. was the largest with over USD 150 billion and the
U.S R&D investments for medical devices accounts for 7% of the sales
revenue.
Configuration-wise, pressed ceramic
packages is estimated to showcase a notable CAGR of above 6% over 2019-2026.
This escalating growth rate can be attributed to the relatively low cost of the
product as compared to multilayer ceramic packages.
Key industry players operating in hermetic
packaging market include SCHOTT AG, Materion Corporation, Texas Instruments,
Teledyne Technologies, Willow, Renesas Electronics Corporation, Legacy
Technologies, AMETEK.Inc., Micross, KYOCERA Corporation, EGIDE, Special
Hermetic Prod., SGA Technologies, and Winchester Interconnect among others.
These manufacturers are engaged in product innovation, strategic
collaborations, and mergers for expanding their business operations to gain
profitable growth.
About Global Market Insights:
Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com