Radiation Hardened Electronics Market
Global Radiation Hardened Electronics Market to Grow at a CAGR of 5.3%, during Forecast Period
Published | 01 October 2022
Global Radiation Hardened Electronics Market is flourishing owing to the expanding semiconductor sector and rising demand for commercial-off-the-shelf space components.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Radiation Hardened Electronics Market was worth USD 1.78 billion in the year 2021. The market is projected to grow at a CAGR of 5.3%, earning revenues of around USD 2.53 billion by the end of 2028. The Global Radiation Hardened Electronics Market is booming because of the growing number of space missions and exploratory activities. In line with this, the rising demand for communication satellites for intelligence, surveillance, and reconnaissance (ISR) operations is driving market expansion. Radiation-hardened electronics are critical for preventing physical damage and failure caused by harmful radiation in space. Furthermore, widespread product adoption for power management device manufacturing is having a positive impact on the market. These electronics are also used in the production of diodes, transistors, and metal-oxide-semiconductor field-effect transistors (MOSFETs) for a variety of defense and military applications. The low production and high maintenance costs for radiation-hardened electronics, however, are anticipated to impede market revenue growth over the forecast period.
Growing Market for Commercial Satellites
The need for low-cost satellite communication for a range of uses, including agriculture surveillance, television content and cell phone connectivity, and military surveillance and monitoring, is driving up demand for small satellites. These commercial satellites have a lifespan of 15–20 years and are frequently launched into geosynchronous orbits for the best coverage. As more communication satellites orbit the earth, the demand for radiation-hardened electronics systems has grown. The New Space entrepreneurs, including OneWeb, SpaceX, Amazon, and Telesat, intend to launch a mega constellation of thousands of low-earth orbit satellites in the upcoming years to enhance the global connectivity network.
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Challenge: Customised Demands from Affluent Customers
Custom radiation-hardened products with high integration, efficiency, and compact features are preferred by space agencies. The businesses are embracing several innovations, which involve investing a sizable amount of time, money, and R&D. Additionally, the need to adapt the design process based on the specific requirements of the end user causes long development cycles for radiation-hardened components. Further, it is anticipated that a lack of lab time will impact the supply of customized product lines for the certification of radiation-hardened chipsets.
Global Radiation Hardened Electronics Market - By Material
Based on material, the Global Radiation Hardened Electronics Market is segmented into Silicon, Hydrogenated amorphous silicon, Silicon carbide, Gallium nitride, Gallium arsenide, and others. Among these, Silicon is expected to grow significantly during the forecast period. Silicon-based electronic components are chosen for innovative solutions that aid both strategic and space missions, resulting in significant market growth. The segment is growing due to manufacturers' increased interest in developing critical microelectronic equipment, such as microprocessors, that are more reliable in hostile environments, such as space and military field deployments. All these factors boost the growth of the Global Radiation Hardened Electronics Market during the forecast period (2022-2028).
Impact of COVID-19 on Global Radiation Hardened Electronics Market
COVID-19 has had a sizable impact on the value chain as well as the demand for radiation-hardened electronics in various end-use industries. The use of radiation-hardened electronic components in satellite construction has been significantly influenced by COVID-19. This market is characterized by low production volumes, high levels of specialization, and few suppliers. Furthermore, COVID-19 has resulted in supply chain interruptions, extended lead times for raw material and component shipments, postponed contract execution, and lockdowns in several countries, particularly in the European region, where the third phase of the lockdown took place in the first quarter of 2021. The industry also relies on outside silicon foundries and back-end subcontractors for some of its manufacturing tasks.
The leading market players in the Global Radiation Hardened Electronics Market are Microchip Technology Inc., BAE Systems, Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics, Xilinx, Inc., Texas Instruments Incorporated, Honeywell International Inc., Teledyne Technologies Inc., TTM Technologies, Inc., Cobham Limited, Analog Devices, Inc, Data Devices Corporation, 3D Plus (France), Mercury Systems, Inc., PCB Piezotronics, Inc, Vorago (US), Micropac Industries, Inc, GSI Technology, Inc, Everspin Technologies Inc, Semiconductor Components Industries, LLC, and other prominent players. The Global Radiation Hardened Electronics Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
Don’t miss the business opportunity in the Global Radiation Hardened Electronics Market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Radiation Hardened Electronics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Radiation Hardened Electronics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Publish Date: September 2022
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