Wilmington, Delaware, United States, July 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Significant investments by militaries around the world on Intelligence, Surveillance, and Reconnaissance (ISR) operations is expected to fuel demand for high-end satellites, which, in turn, presents substantial growth opportunities for companies in the radiation hardened electronics market.
The global radiation hardened electronics market was valued at US$ 1.5 Bn in 2022 and is projected to reach US$ 2.1 Bn by 2031.
Key Findings of Study
- Widespread Demand for Radiation Hardened Electronics in Commercial Satellites: Based on manufacturing technique, the Radiation Hardening by Design (RHBD) segment accounted for the leading share of 41.2% in 2022. The technique is widely adopted for the mass production of radiation hardened electronics.
- Rise in adoption of the technique for the production of ICs that find applications in space industry is anticipated to bolster the RHBD segment. For instance, introduction of logic ICs for electronics that are incorporated in low-earth orbit (LEO) satellites. Rapid advancement in RHBD engineering practices is likely to broaden the market outlook.
- Increase in Utilization of Radiation Hardened Electronics in Power Management Components and Nuclear Sensing & Instrumentation: Surge in usage of radiation hardened electronics in the manufacture of a range of power devices, such as diodes, transistors, capacitors, and CPUs, is propelling the market.
- Significant demand for radiation hardened components in scientific research facilities and nuclear reactors presents ample opportunities for companies in the market. Facility managers are utilizing radiation-hardened electronics to improve signal integrity, enhance safety and efficiency of nuclear reactors, and reduce radiation-attributed degradation of the equipment used in nuclear plants.
- Substantial demand for novel sensors and associated electronics for nuclear sensing and instrumentation presents is likely to present lucrative opportunities for companies in the market in the next few years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.5 Bn | |
| Estimated Value | US$ 2.1 Bn | |
| Growth Rate - CAGR | 4.1% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 238 Pages | |
| Market Segmentation | By Component, Manufacturing Technique, Solution, Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | BAE Systems, Cobham Advanced Electronic Solutions (CAES), Honeywell International Inc., Infineon Technologies AG, Microchip Technology Inc., Renesas Electronics Corporation, Solitron Devices, Inc., STMicroelectronics, Teledyne Technologies Inc., Texas Instruments Incorporated, TTM Technologies Inc., Xilinx Inc. | |
Key Growth Drivers of Radiation Hardened Electronics Market
- Increase in government investment in space programs is expected to propel development of commercial satellites. Rapid trend of manufacture of commercial satellites that are meant for use in LEO applications is anticipated to boost the market.
- Rise in R&D activities in communications satellites and advancement in satellite technology are expected to drive the radiation hardened electronics market. Surge in usage of these satellites in telecommunications, broadcasting, and data communications is anticipated to augment the market size in the next few years.
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Regional Landscape
Asia Pacific is offering robust business opportunities to companies in the radiation hardened electronics industry. Increase in launch of commercial telecommunications satellites in India and China is bolstering market value in the region.
Rise in investment in space tourism by countries in Asia is likely to create significant growth opportunities for companies in Asia Pacific, for instance, the recent satellite launch by Thailand's Geo-Informatics and Space Technology Development Agency (GISTDA). Governments of several Asian countries are focusing on strengthening the space industry to bolster space tourism.
North America accounted for dominant market share of 43.2% in 2022. The region is anticipated to continue to retain its dominance from 2023 to 2031. Surge in investment in space explorations is likely to fuel market development.
Increase in usage of satellite imaging in warfare is likely to promote investment in the space industry in the U.S. and Canada. Rise in adoption of satellite telemetry in wildlife research in the U.S. presents significant business opportunities for companies in the market.
Competition Landscape
The business landscape is fragmented, with the leading players focusing on R&D activities and collaborations with governments and research institutions to consolidate their market positions.
Prominent players in the radiation hardened electronics market are:
- BAE Systems
- Honeywell International Inc.
- Infineon Technologies AG
- Microchip Technology Inc.
- Renesas Electronics Corporation
- Solitron Devices
- STMicroelectronics
- Xilinx Inc.
- Teledyne Technologies Ltd.
- TTM Technologies Inc.
- Texas Instruments Incorporated
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Segmentation
The radiation hardened electronics market is segmented based on
Component
- Mixed Signal ICs
- Processors & Controllers
- Memory
- Power Management
- Logic
- Others (Sensors, etc.)
Manufacturing Technique
- Radiation Hardening by Design (RHBD)
- Radiation Hardening by Process
- Radiation Hardening by Shielding
Solution
- Commercial-off-the-shelf (COTS)
- Custom-made
Application
- Space
- Aerospace & Defense
- Nuclear Power Plant
- Others (Research & Development, Metal & Mining, etc.)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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