NEVADA CITY, CA – Revenue at the 50 largest electronics manufacturing services companies grew 12.7% in 2024, totaling $477 billion and reversing a historic 2023 downturn, a new report says.

Revenue among the top 10 EMS firms made up 87.6% of sales of the top 50, down from 88.7% the prior year, added Manufacturing Market Insider. The remaining 40 companies saw slower gains, growing 3.5%.

Top-tier suppliers including Foxconn, BYD Electronics and Celestica led the growth, while others such as Pegatron, Wistron and Jabil posted double-digit declines. Mid-tier firms like DBG, Dixon Technologies, Fabrinet and Cyient filled the gap, driving industry recovery.

The Asia-Pacific region dominated with 74.7% of the revenue, while the Americas posted 20.4% growth and EMEA reached 2.5%, the latter buoyed by acquisition activity.

The minimum revenue to make the Top 50 list was $521 million, up $87 million from 2023.

PLAN-LES-OUATES SWITZERLAND — Cicor will acquire a manufacturing operation as part of a strategic supply agreement with Mercury Mission Systems.

The move supports Mercury’s plan to refocus on core engineering and systems integration by outsourcing part of its European electronics production. Cicor will absorb 34 employees and transition manufacturing to its facilities in Newport, UK, and Bronschhofen within 18 months.

Mercury committed to five years of product purchases from Cicor valued in the high double-digit million CHF range. Cicor said the deal strengthens its pan-European platform for mission-critical aerospace and defense electronics and follows its planned acquisition of MADES S.A.U. in Spain.

BANG KADI, PATHUM THANI, THAILAND -- SVI Public Co. and China Circuit Technology (Shantou) have agreed to a joint venture here where the two companies will build printed circuit boards. The JV, which is 75% owned by SVI, will produce multilayer and high‑density interconnect PCBs.

The firms are investing a combined 1.60 billion baht (about 48 million) in the JV, called Advanced Interconnection Technology Company Ltd.

A combination of company cash flow and bank loans are being used to finance the development.

LAS VEGAS – CB Tech has acquired Phoenix-based Reliable Circuits, expanding its inhouse capabilities to include advanced circuit board design, production, and assembly. Financial terms were not disclosed.

The move strengthens the water filtration firm’s supply chain and supports innovation in electronically controlled systems, CB Tech said in a press statement.

Reliable Circuits is a longtime supplier to CB Tech and serves other sectors including traffic management and aviation equipment. Following the deal, it will continue operating in Phoenix under CB Tech’s leadership.

“This partnership shows our commitment to providing topnotch water filtration solutions and highlights our dedication to supporting our affiliates, vendors, and customers around the globe,” said Zachary Rice, president, CB Tech.

Philip Carlson, production manager at Reliable Circuits, added, “Joining forces with CB Tech presents a great opportunity for growth and innovation. We look forward to the opportunities ahead and the role Reliable Circuits will play in CB Tech’s continued success.”