New York, April 29, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Radiation-Hardened Electronics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Power Management Components, Analog & Digital Mixed Signal Devices, Memory, and Controllers & Processors), Manufacturing Technique [Radiation Hardening by Design (RHBD) and Radiation Hardening by Process (RHBP)], and Application (Aerospace & Defense, Nuclear Power Plant, Space, and Others)”, the global radiation-hardened electronics market growth is driven by the increasing investment in product development by major players.
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| Report Coverage | Details |
| Market Size Value in | US$ 1.52 Billion in 2021 |
| Market Size Value by | US$ 2.04 Billion by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 172 |
| No. Tables | 85 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Component, Manufacturing Technique, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Radiation-Hardened Electronics Market: Competitive Landscape and Key Developments
The leading players operating in the radiation-hardened electronics market across the globe include BAE Systems; Data Device Corporation; Honeywell International Inc.; Infineon Technologies AG; Renesas Electronics Corporation; Texas Instruments Incorporated; STMicroelectronics; Xilinx, Inc.; VORAGO Technologies; and Microchip Technology Inc. Several companies are functioning in the market and are contributing substantial revenues to propel the radiation-hardened electronics market growth.
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In 2022, BAE Systems has been awarded a $60 million contract from the Army Contracting Command. The program's principal purpose is to provide the US government and aerospace sector with onshore access to cutting-edge microelectronics technology. Cadence Design Systems, Carnegie Mellon University, Novellus, Reliable MicroSystems, and Sandia National Laboratories will be part of a team that will carry out this work.
In 2021, Xilinx, Inc. announced its collaboration with Mavenir. The collaboration consists of companies working together to deliver a unified 4G/5G O-RAN massive MIMO portfolio to market to allow Open RAN deployments. In Q4 of 2021, the first mMIMO 64TRX joint solution was planned to be ready. The two businesses collaborated to effectively integrate a first-generation mMIMO system leveraging Open RAN concepts from end to end.
Space programs across developed and developing countries have experienced a rise in investment. This growth is attributed to the rising initiatives by government bodies and huge investments made in developing new satellites for studying various aspects of space. Apart from space studies, satellites are actively being developed and launched to offer space-based internet services and navigation.
The European Space Agency, in November 2021, launched a pair of Galileo satellites that works as a navigation system. Further, the European Union (EU), in December 2020, announced its plans to build a mega constellation of satellites in Earth orbit with an investment of US$ 8.7 million. Radiation-hardened electronics are being actively used across satellites to protect them from solar flares and any other harsh environmental conditions. Thus, the rise in satellite development across the globe is fueling the demand for radiation-hardened electronics, thereby contributing to the growth of the radiation-hardened electronics market.
The lockdown limitations and restrictions on supply chain and manufacturing operations by the governments of European countries due to the COVID-19 pandemic had a detrimental impact on the radiation-hardened electronics market growth. However, during the year 2021, signs of economic recovery began to emerge following the advent of the COVID-19 pandemic. These signs swiftly gained traction in various sectors and regions, resulting in a remarkable economic recovery and an unprecedented worldwide chip scarcity. Manufacturing capacity continued to be a limiting concern, especially when natural disasters and increased regional COVID cases led to major disturbances. During the pandemic, numerous organizations quickly turned from addressing underutilization of resources to dealing with severe allocation.
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Rising Adoption of Radiation-Hardened Electronics to Boost Radiation-Hardened Electronics Market Size:
The US Government awarded Silicon Technologies Inc. (STI) a 2-year contract in July 2019 to create Radiation Hardened by Design (RHBD), Process Portable, and Mixed Signal Design IP. The primary goal of this arrangement was to increase the US government's access to radiation-hardened equipment. This arrangement is for radiation-hardened electronic prototype demonstrations for new electronic component solutions to support strategic and space missions by the US government. Thus, the rise in procurement of radiation-hardened electronics by various organizations is fueling the growth of the global radiation-hardened electronics market size.
Radiation-Hardened Electronics Market: Sector Overview
The radiation-hardened electronics market analysis based on application is segmented into aerospace & defense, nuclear power plant, space, and others. In the radiation-hardened electronics market, the space application segment is expected to grow at the fastest rate. Due to the growing use of rad-hard components in TV broadcasting, telephone satellites, nanosatellites & microsatellites, and high demand for earth observation satellites, the space application sector accounted for the largest share in the radiation-hardened electronics market. For on-board electronics, the radiation environment in space generates exceptionally demanding operating conditions. Space-based ionizing radiation hastens the aging of electronic equipment and materials, resulting in reduced electrical performance or possibly irreversible failure. In addition to radiation degradation, electronics used in spaceship applications are subjected to severe temperatures ranging from -55°C to 125°C during missions that can last up to 15 years.
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