Aerospace Semiconductor Market - By Type, By Application (Avionics Systems & Flight Control, Communication & Connectivity Solutions, Power Distribution & Management, Navigation & Sensing Technologies, Safety & Emergency Systems, Aircraft Entertainment Sys

Aerospace Semiconductor Market - By Type, By Application (Avionics Systems & Flight Control, Communication & Connectivity Solutions, Power Distribution & Management, Navigation & Sensing Technologies, Safety & Emergency Systems, Aircraft Entertainment Systems) & Forecast, 2023 - 2032

The global aerospace semiconductor market is expected to grow at a CAGR of 8% during 2024-2032, driven by increased demand for advanced avionics systems and rise of unmanned aerial vehicles (UAVs).

According to a report by Deloitte in 2023, 2022 witnessed a record 186 successful rocket launches, a notable increase from 2021, signaling a rapid transformation in the space sector.. The increasing interest and investments in space exploration are contributing to the growth of the aerospace semiconductor market. Spacecraft, satellites, and exploration vehicles rely heavily on advanced semiconductor technologies to withstand the harsh conditions of space and execute complex tasks. As governments and private entities explore new frontiers in space, the demand for aerospace semiconductors is expected to surge.

The global aerospace semiconductor industry is classified based on type, application, and region.

The safety & emergency systems application segment is expected to expand at an unprecedented rate through 2032, driven by an increased focus on enhancing aviation safety. Aerospace manufacturers are increasingly incorporating advanced sensors, processors, and communication devices to develop state-of-the-art safety and emergency systems. Semiconductor-enabled safety features, such as collision avoidance systems, advanced radar technologies, and emergency communication systems, are becoming integral to the design and development of modern aircraft, thus ensuring passenger safety and enhancing appeal.

The discrete devices segment is set to grow swiftly till 2032, owing to its role in powering avionics systems, communication devices, and other electronic subsystems in aircraft. With an increase in demand for more sophisticated and compact electronic systems in aerospace applications, the incorporation of semiconductors in discreet devices.

Asia Pacific aerospace semiconductor market is expected to grow at a steady pace during the study period, driven by a robust aerospace manufacturing sector and increasing investments in R&D. China, India, and Japan are leading the charge in the adoption of advanced semiconductor technologies in aviation, favored by large grants for satellite & aerospace projects. Moreover, the expansive air network & connectivity, coupled with a growing demand for air travel, is creating lucrative opportunities for semiconductor manufacturers in the region.