Radiation Hardened Electronic Market size is estimated to cross USD 5 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2023-2036. In the year 2023, the industry size of the radiation hardened electronic was over USD 2 Billion. The growth of the market can be attributed to the increasing demand for electronics. The rising disposable income of people across the globe, has increased the demand for electronic products. Radiation hardened electronics may become more necessary as demand for electronics rises, especially in sectors where dependability and safety are crucial. Consumers worldwide are anticipated to spend over USD 500 billion on electronic gadgets by the end of 2022.
Moreover, the growing research and development in radiation hardened electronics, is also expected to add to the market growth. There has been a growing opportunities for radiation hardened components in scientific research and development, that is further adds opportunities to the market’s growth.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 10% |
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Base Year Market Size (2024) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 5 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Application (Aerospace & Defense, Nuclear Power Plant, Medical Healthcare)
The aerospace & defense segment in the radiation hardened electronic market is estimated to gain the largest revenue share of 40% over the projected time frame. The growth of the segment can be attributed to the increasing investment by governments across the world. The aerospace and defense sectors frequently work in radiation rich environments including space, high altitudes, and nuclear settings. Radiation in such settings has the potential to disrupt or harm electronic systems, which might result in a mission.
Component Type (Analog, Digital Mixed Signal Devices, Memory Controllers, Processors, Power Management Component)
Radiation hardened electronic market from the power management component segment is expected to garner a significant share of 32%. Owing to the crucial requirement for dependable operation in challenging situations with high radiation levels, power management is highly demanded in radiation hardened devices. For instance, radiation damage to electronics in nuclear power plants might result in safety hazards or plant shutdowns. The reliable operation of safety systems at these facilities depends on radiation hardened power management systems. The number of people without electricity accounts to nearly 660 million at current, while close to two billion are expected to continue using dirty fuels and technologies for cooking by 2030.
Our in-depth analysis of the global radiation hardened electronic market includes the following segments:
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Component |
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Application |
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North American Market Forecast
The North America radiation hardened electronics market is projected to grow with a share of 33% during the forecast period. The growth of the market can be attributed majorly to the growing environmental concerns. For instance, monitoring and reducing radiation levels in a variety of applications are becoming more and more important, as environmental concerns are increasing in the region. This might result in a rise in demand for electronics that are radiation hardened and capable of operating effectively in such hostile conditions.
European Market Forecast
The Europe radiation hardened electronics market is projected to hold the largest market share of 25% by the end of 2036. The growth of the market can be attributed majorly to the increasing production of high-level electronics in the region. High-level electronics are being used in various applications in the region, which increases the demand for radiation hardened electronics, especially in severe situations where electronics are exposed to radiation. Further, in general, the rising need for high-level electronics in Europe is anticipated to spur further innovation and financial investment in radiation hardened electronics technology, in order to fulfill the rising need for dependable and durable electronic systems in a range of applications, which is also anticipated to contribute to the market growth in the region. In terms of electricity consumption, Europe is the third largest in the world after Asia and North America. Europeans were said to have used around 3.3 terawatt hours of electricity in 2022.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Growing demand of semiconductor materials, and rising demand for satellites are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2024- 2036.
Ans: Exorbitant costs of development and designing, and growing concerns for the effect of radiation on electrical devices are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Ans: The major players in the market are Xilinx, Inc., Atmel Corporation, BAE Systems, and STMicroelectronics, among others.
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