PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497718
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497718
Key Highlights
The crystal oscillator market was valued at USD 3,030.6 million in 2023, and it will rise to USD 4,136.7 million, powering at a 4.6% compound annual growth rate, by 2030.
The surging product demand in the defense and aerospace sectors are major factor driving the industry.
Crystal oscillators play a key part in defense and aerospace areas because of their high reliability, precision, and balanced frequency generation.
These features are important for many major applications like communications, radar systems, military electronics, military radar, navigation & guidance systems, electronic warfare systems, spacecraft avionics, aircraft, missile guidance, test & measurement equipment, and control systems.
The key function of crystal oscillators in defense and aerospace is communication systems.
For accurate location, targeting, and navigation, crystal oscillators offer precise timing signals to guidance and navigation systems in aircraft, drones, missiles, and various other military assets.
Technological improvement further boosts the need for dependable and tailored crystal oscillators for the defense and aerospace sectors.
The continuing improvements in defense systems involve satellite technology, unmanned aerial vehicles (UAVs), electronic warfare systems, and advanced defense electronics.
The defense and aerospace sectors are subject to stringent needs and greater standards for both quality and performance.
Key Insights
APAC is advancing at a rapid rate, of 6%, in the years to come. This is because of the automotive industry which utilizes electronic parts and contributes to the requirement for crystal oscillators.
Most vehicle applications such as airbag systems, engine control systems, and driver assistance systems rely on crystal oscillators.
In APAC, nations such as Taiwan, China, Japan, and South Korea have robust manufacturing abilities, particularly in semiconductors and electronic devices.
North America is likely to hold a 20% share in 2030. Industry products' rising demand is the key factor for making the continent the largest in terms of shares. '
A shortage of electronic components globally has also raised the costs of specific products. This forms a significant opportunity for regional industry vendors.