Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSJune 2021: Honeywell's subsidiary JetWave, announced the launch of a new offering known as JetWave MCX, specifically designed for military and governmental aircraft.
June 2021: STMicroelectronics, and Metalenz Inc., announced a co-development and license agreement to develop manufacturing processes for Metalenz’s meta-optics technology for next-generation smartphones, consumer devices, healthcare, and automotive applications using radiation-hardened technology.
The radiation-hardened electronics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. Industries use radiation-hardened electronics to protect devices/systems from the effects of radiation. Increasing intelligence, surveillance, and reconnaissance (ISR) operations, high demand for radiation-hardened electronics in the communication satellite segment, and growing demand for electronic systems that can withstand significant radiation exposure in the nuclear power industry is estimated to accentuate the growth of this market. The primary factor driving the radiation-hardened electronics market is the rising demand for power management devices. Another factor augmenting the need for a radiation-hardened electronics market is the increasing need for diodes, transistors in various industries, especially in defense and space applications. Moreover, technological advancements are leading to focus on the integration of radiation-hardened electronics chips into multiple devices, which is also estimated to fuel the market growth. Additionally, the increase in the number of space missions, backed by the rise in demand for communication satellites is expected to propel the growth of the market. However, difficulties in creating virtual testing environments, high development costs, and designing may occur as restraints to its growth.
The market is segmented on component type into analog & digital mixed-signal devices, memory controllers & processors, power management components, and others. Out of these, power management segment is anticipated to grab the largest share in the radiation-hardened electronics market during the forecast period. The growth of this segment can be attributed to the increasing need for MOSFETs and diodes for high-end applications in various industries, especially in the aerospace and defence industries. As they have excellent durability against high-energy charged particles and ionizing radiation, the power MOSFETs are used in high-reliability requirements and designed for outer space requirements. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of application, the aerospace segment is expected to grow at the highest rate in the market over the forecast period. This can be attributed to the rising usage of radiation-hardened components in telephone satellites, TV broadcasting, various types of satellites, along with the surging demand for earth observation satellites for weather updates and research. Furthermore, the increasing number of space missions conducted globally is expected to drive the growth of the segment in the radiation-hardened electronics market during the forecast period.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
The market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in Europe is predicted to grow at the highest CAGR over the forecast period, owing to the increased expenditure by governmental and non-governmental agencies on improving aerospace activities. Moreover, the cutting-edge manufacturing technological abilities in the region and growing research and development for producing high-level electronics are also increasing. Furthermore, the market in the North America region accounts for the largest share in the market currently. The rising demand for the radiation-hardened electronics in the region, owing to the presence of radiation-hardened component manufacturers in large numbers, is estimated to drive the regional market growth. Also, presence of eminent defence and space research institutes, such as, NASA, is estimated to boost the market growth in the region.
The global radiation-hardened electronics market is further classified on the basis of region as follows:
Our in-depth analysis of the global radiation-hardened electronics market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing intelligence, surveillance, and reconnaissance (ISR) operations globally and increasing use of commercial-off-the-shelf products in satellites and other space applications are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
High costs of development and designing is estimated to hamper market growth.
The market in Europe region will provide ample growth opportunities owing to the increased expenditure by governmental agencies on aerospace technologies and agencies, such as, European Space Agency in the region.
The major players dominating the radiation-hardened electronics market are Xilinx, Inc., Atmel Corporation, BAE Systems, and STMicroelectronics, among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component type, application, and by region.
With respect to application, the aerospace segment is anticipated to hold the largest share owing to the increasing number of space missions conducted globally.
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