Radiation-Hardened Electronics Market

Radiation-Hardened Electronics Market Segmentation by Component Type (Analog and Digital Mixed Signal Devices, Memory Controllers and Processors, Power Management Component, and Others); and by Application (Aerospace and Defence, Nuclear Power Plants, Medical and Healthcare, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Report ID: 3314 | Published On: Apr 05, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • June 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.


Global Radiation-Hardened Electronics Market Highlights 2022-2030

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.

Radiation-Hardened Electronics Market

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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. 

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.


Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

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.


Global Radiation-Hardened Electronics Market Regional Synopsis

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.

Radiation-Hardened Electronics Market

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The global radiation-hardened electronics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Radiation-Hardened Electronics Market
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Market Segmentation

Our in-depth analysis of the global radiation-hardened electronics market includes the following segments:

By Component Type

  • Analog and Digital Mixed Signal Devices
  • Memory Controllers & Processors
  • Power Management Component
  • Others

By Application

  • Aerospace & Defense
  • Nuclear Power Plants
  • Medical and Healthcare
  • Others


Growth Drivers
  • Increasing Intelligence, Surveillance, and Reconnaissance (ISR) Operations Globally
  • Increasing Use of Commercial-Off-The-Shelf Products in Satellites and Other Space Applications

Challenges

  • High Costs of Development and Designing


Research Expenditure

Key Questions Answered in the Report

1) What are the major factors driving the growth of the radiation-hardened electronics market?

Ans: 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.

2) What would be the CAGR of radiation-hardened electronics market over the forecast period?

Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.

3) What are the challenges affecting the radiation-hardened electronics market growth?

Ans: High costs of development and designing is estimated to hamper market growth.

4) Which region will provide more business opportunities for growth of radiation-hardened electronics market in future?

Ans: 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.

5) Who are the major players dominating the radiation-hardened electronics market?

Ans: The major players dominating the radiation-hardened electronics market are Xilinx, Inc., Atmel Corporation, BAE Systems, and STMicroelectronics, among others.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the radiation-hardened electronics market?

Ans: The market is segmented by component type, application, and by region.

8) Which segment under the application segment captures the largest market size in the radiation-hardened electronics market?

Ans: 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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