Radiation-Hardened Electronics Global Market Report 2024

The global radiation-hardened electronics market has grown steadily in recent years. It will grow from $1.68 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. During the historic period, growth was primarily driven by several factors including the increased demand for these technologies in military and defense applications, the specific requirements of the nuclear industry, utilization in high-altitude aerospace missions, applications within medical and healthcare equipment, and the critical role played in ensuring security and safeguarding critical infrastructure. These diverse applications contributed significantly to the observed growth in the sector.

The global radiation-hardened electronics market is expected to see steady growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. In the forecast period, growth is expected to be propelled by various factors, including the emergence of autonomous vehicles, the increasing demand for miniaturized and compact electronics, the integration of IoT and connected devices in extreme environments, the continuous growth in security and critical infrastructure, and the expanding landscape of medical devices. Significant trends anticipated during this period encompass advancements in space exploration and satellite technology, ongoing technological advancements, the utilization of electronics in high-altitude aerospace applications, and the continued development of medical and healthcare equipment. These trends are poised to shape the trajectory of the industry in the forecasted period.

The radiation-hardened electronics market is poised for growth, primarily fueled by the increasing proliferation of satellites. Satellites, orbiting the Earth and gathering data, rely on radiation-resistant electronics to withstand extreme conditions. These specialized components offer superior resilience against radiation and temperature variations, making them preferable for space applications. With approximately 8,261 satellites orbiting Earth as per records from the United Nations Office for Outer Space Affairs (UNOOSA), where 4,852 are active, the surge in satellite numbers significantly contributes to the expansion of the radiation-hardened electronics market.

Geopolitical tensions are anticipated to drive the growth of the radiation-hardened electronics market. These tensions encompass conflicts among nations or regions, often related to territorial disputes, resources, or ideological differences. In response, radiation-hardened electronics play a pivotal role in military strategies, safeguarding communications satellites from interference and protecting military assets operating in high-radiation environments. For example, data from The Armed Conflict Location & Event Data Project (ACLED) indicated a 12% increase in reported events of political violence targeting civilians, with a corresponding 8% rise in civilian fatalities from 2020 to 2021. This escalating geopolitical landscape fuels the demand for radiation-hardened electronics.

Technological advancements stand out as a key trend driving the radiation-hardened electronics market. Leading companies within this sector prioritize advanced technologies to solidify their market presence. For instance, Renesas Electronics Corporation launched a new series of radiation-hardened components in July 2021, featuring enhanced radiation tolerance achieved through Giant Magneto Resistive (GMR) isolation technology. These components, specifically designed for satellite power management systems, offer superior assurance and cost efficiency compared to existing space-grade optocouplers.

Major players in the radiation-hardened electronics market focus on developing innovative products, notably integrated circuits (ICs), to maintain their market position. Integrated circuits, also known as microchips, play a crucial role in electronic circuitry, often housing millions of electronic components within tiny circuits. For example, STMicroelectronics N.V. introduced a range of radiation-hardened power, analog, and logic ICs in March 2022. These components, packaged in low-cost plastic, aim to simplify the design and production of small satellites. With nine initial components addressing various satellite functions, these ICs offer reliability in low-earth orbit environments, catering to emerging demands in the evolving landscape of space commercialization.

In November 2021, Raytheon Technologies Corporation, a prominent aerospace and defense systems company based in the United States, successfully acquired SEAKR Engineering, Inc. This strategic acquisition, conducted for an undisclosed sum, signifies a significant advancement in Raytheon Technologies' prowess within the realm of advanced space electronics. The addition of SEAKR Engineering bolsters Raytheon Technologies' capabilities, offering unparalleled technological expertise, innovative solutions, and a robust portfolio of space-qualified electronics. This acquisition positions Raytheon Technologies to adeptly address the escalating demands of the space market. SEAKR Engineering Inc., the acquired company, specializes in the design and manufacturing of sophisticated space electronics within the aerospace and defense sector.

Major companies operating in the radiation-hardened electronics market report are Microchip Technology Inc., BAE Systems Inc., Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics, Xilinx Inc., Texas Instruments Incorporated, Honeywell International Inc., Analog Devices Inc., Micropac Industries Inc., GSI Technology Inc., Mercury Systems Inc., Teledyne Technologies, Vorago Technologies, Maxwell Technologies, TTM Technologies Inc., International Business Machines Corporation, Data Device Corporation, Atmel Corporation, Intersil Corporation, Linear Technology Corporation, National Semiconductor Corporation, On Semiconductor Corporation, Silicon Laboratories Inc., Microsemi Corporation, X-Celeprint Limited, ABLIC Inc., Aeroflex Inc., Analogic Corporation, Crane Aerospace & Electronics

North America was the largest region in the radiation hardened electronics market in 2023. The regions covered in the radiation-hardened electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the radiation-hardened electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product types within radiation-hardened electronics include Commercial-off-the-Shelf (COTS) and custom-made solutions. COTS items are non-developmental products available in the commercial market and are often acquired through government contracts. COTS radiation-hardened electronics are designed for ease of access and user-friendliness. Manufacturers employ techniques such as rad-hard by process, rad-hard by design, and rad-hard by software. Key components comprising these electronics include power management systems, application-specific integrated circuits, logic units, memory modules, field-programmable gate arrays, and other specialized elements. These components find applications in various sectors such as space satellites, commercial satellites, military operations, aerospace and defense, nuclear power plants, and other related industries.

This report provides radiation-hardened electronics market statistics, including radiation-hardened electronics industry global market size, regional shares, competitors with a radiation-hardened electronics market share, detailed radiation-hardened electronics market segments, market trends and opportunities, and any further data you may need to thrive in the reusable launch vehicle industry. This radiation-hardened electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The radiation-hardened electronics market consists of sales of circuits, transistors, resistors, diodes, capacitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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