"Smart Market Solutions to Help Your Business Gain Edge over Competitors"
Power electronics devices consist of an electronic circuit that converts electrical power from one form to another. The power electronic devices are also used to controlled the flow of electrical power. The electrical power flow can be controlled in two ways, either bidirectional or unidirectional depending upon the nature of use. The power electronics can support the power management to improve energy conservation by reducing the power losses in various end user industry applications such as aircraft engines, space flights, satellites, integrated in-flight electronic devices, military vehicles and weapons.
Now a day most of the electromechanical and electrical devices are integrated with power circuits. Rising demand for automated weapons, electric vehicles (EVs) for military and growing focus on aerospace and defense industry in emerging economies such as China and India are expected to act as growth opportunities for the power electronics market in the coming years.
Key Market Driver -
• Growing demand for automated weapons from the military sector owing to rising conflicts. • Increasing adoption of IGBT power modules owing to high power density capability. • Rising aerospace and defense industry development spending from developing economies. • Growing aircraft deliveries across the globe
Key Market Restraint -
• Reducing defense budgets of advanced economies. • High cost of advanced power module integrated device.
The power electronic devices having wide range applications in aerospace and defense industry, as they are designed to operate reliably in harsh environments. Owing to the design features, such as high power density, high reliability, and fault protection ability, the power electronic devices are widely used in variety of applications such as aircraft motors, aircraft engine, autonomous weapons, military screening rescue operations, and surveillance among others. Advancement in the technology that enables the semiconductor technology, nanotechnology fields and internet of things technology is expected to propel the power electronics market during the forecast period. Furthermore, increase in the defense expenditure accountable for refueling the market for defense end-users. Also the rising need for high power density IGBT modules in aircraft applications due to lightweight and high feature design will create an opportunity for power electronics market in near future.
Some of the key players in the power electronics market include Microsemi Corporation (The U.S.), Infineon Technologies AG (Germany), Texas Instruments, Inc (The U.S.), On Semiconductor Corporation (The U.S.), Collins Aerospace (The U.S.), TT Electronics Plc (The UK), Mitsubishi Electric Corporation (Japan), Analog Devices, Inc (The U.S.), Qorvo, Inc. (The U.S.), Renesas Electronics Corporation (Japan), STMicroelectronics N.V. (Switzerland), NXP Semiconductors N.V. (The Netherland), and among others.
Based on the type of the power electronics market power module is estimated to witness massive growth during the forecast period 2019-2026. There is a rising demand for IGBT power modules to increase device performance and reduce overall weight of space flights, aircraft and military weapon.
Based on the material of the power electronics market, the silicon material segment is estimated to dominate the market in 2018 owing to the high compatibility of silicon with variety of substrate materials, easy availability, and low production cost.
The power electronics market is analyzed across the major regions including North America, Europe, Asia Pacific, and rest of the world
North America is anticipated to lead the power electronics market and witnesses to maintain the position during the forecast timeline. The region spends its high expenditure on space research and development activities also on the advanced military technologies, which can enhance the capability of military weapons. High demand for IGBT power modules is projected to drive the power electronics market.
To gain extensive insights into the market, Request for Customization
Followed by North America, Asia Pacific will show significant growth in upcoming years due to the growing investment in space R&D from countries like China, India, and Japan. Moreover, increased investments in military up-gradation programs, which include procurement of advanced military weapon also expected to drive the Asia Pacific market during the forecast period.
By End User
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry