Market Trends of Optical Ceramics Industry
This section covers the major market trends shaping the Optical Ceramics Market according to our research experts:
Aerospace & Defense Expected to Witness Significant Growth
- The aerospace sector continually looks forward to new technologies being employed in everything from the latest commercial jetliners and advanced fighter jets to next-generation missile systems. For virtually all of these platforms, optical ceramics play a vital role in several onboard systems and components.
- In the aerospace and defense segment, optical ceramics are used for advanced optical domes, conformal optical windows, and transparent armor. Sapphire is the most commonly used optical ceramic material in this segment. Materials such as magnesium aluminate spinel, polycrystalline alumina, and yttrium oxide are used for manufacturing optical windows in the aerospace industry.
- The defense aerospace sector will witness an increase in investments, as security threats increasingly burden governments. Increasing production and growing demand for new aircraft in the aerospace sector is expected to trigger the growth of the market.
- Companies such as CeraNova have developed and continues to improve innovative and cost-effective manufacturing processes for spherical and aspheric components made from ceramics. These include hemispherical domes for legacy missile systems as well as aerodynamic dome geometries for next-generation platforms. The advanced optical ceramic materials developed by CeraNova provide high strength, abrasion resistance, and extended operating temperature range for a wide range of next-generation aerospace and defense systems.
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Asia-Pacific Expected to Witness Significant Growth
- Asia-Pacific is expected to witness significant growth for the optical ceramics market. The spending in defense has been increasing in the region in recent years, owing to the rise in terrorism and an urge to dominate the region.
- Rising security threats in China are expected to increase the national spending on defense, which may, in turn, directly affect the market, positively, during the forecast period.
- Additionally, China has the world’s largest electronics production base. Electronic products, such as smartphones, tablets, tempered glasses, etc., have the highest growth in the electronics segment. The country not only serves the domestic demand for electronics but also exports electronic output to other countries.
- Furthermore, the Indian government announced an increase of over INR 3 lakh crore, for the fiscal year 2019-2020, in its interim budget. Additionally, with an aim to boost India's defense production, the country has planned to manufacture 200 helicopters with Russian collaboration, for the intensification and diversification of their strategic ties.
- Therefore, with the increasing demand and government initiative in various sectors in the region, the demand for optical ceramics will surge during the forecast period.
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