The Radiation Hardened Electronics Market is expected to grow from USD 1.5 billion in 2022 to USD 1.8 billion by 2027; it is expected to grow at a CAGR of 4.0% from 2022 to 2027.
Driver: Increasing demand for radiation-hardened electronics in commercial satellites
Increasing demand for affordable satellite communication for various applications such as agriculture surveillance, television content and cell phone connectivity, and military surveillance and monitoring is accelerating the demand for small satellites. These commercial satellites are often launched in geosynchronous orbits for optimal coverage and exhibit a life span of 15–20 years. The increasing number of communication satellites in the earth’s orbit has increased the demand for radiation-hardened electronics systems. The New Space entrepreneurs, including OneWeb, SpaceX, Amazon, and Telesat, are planning to launch a mega constellation of thousands of low earth orbit satellites in the next few years, to enhance the global connectivity network.
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The report also includes the impact of the COVID-19 pandemic on the growth of the Global Radiation-Hardened Electronics Market as well as the segments and regional markets. For instance, the satellite manufacturing as an application of rad-hard electronic components is affected severely by the disruptions caused across supply chains during COVID-19 severely. This is because this market is characterized by low production volumes and a high level of specialization, with a limited number of suppliers.
The Radiation-Hardened Electronics Market is dominated by Bae Systems (UK), STMicroelectronics (Switzerland), Microchip technology (US), Renesas Electronics (Japan), Honeywell Aerospace & Defense (US), and Infineon Technologies (Germany). These players have adopted various growth strategies such as, product integrations, geographic expansions, collaborations, and new product launches to increase their presence in the global market.
BAE Systems was the leader in the rad-hard electronics market in 2019. The company is a global defense, aerospace, and security company providing products & services for air, maritime, land, and cyber domains. The company develops and provides advanced high-reliability Radiation-Hardened Electronics at the component, card, and unit levels. The subsidiaries of the company are Flight Control Management GmbH (Germany), Aero International Limited (UK), Armstrong Whitworth Aircraft Limited (UK), and Avro International Aerospace Limited (UK), among others. The company has its strong presence in the UK, the US, Saudi Arabia, and Australia.
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Another important player in the rad-rad electronics market is Infineon Technologies. The company provides rad-hard power and RF solutions for satellites & space exploration through its IR HiRel subsidiary. The company has a strong market position in almost all the industries it operates and a well-balanced revenue generation from all its business segments. This strong position of the company in various markets provides it a competitive advantage. In terms of key business strategies, Infineon Technology follows the Product Launch strategy. For instance, IR HiRel, an Infineon Technologies company, launched radiation-hardened MOSFETs housed in an innovative direct-to-printed Circuit Board (PCB) mounting package in June 2020 and launched the CoolMOS technology platform in April 2020.
Market Opportunity:
The increasing number of space missions worldwide is accelerating the demand for advanced radiation-hardened components, new configuration and design techniques, and software models to improve the radiation tolerance of electronic components. The US was the first country to work very closely with many space associations and show interest in undertaking initiatives to enter space. Its manufacturing abilities and testing infrastructure, along with a qualified workforce, make it easier for the country to perform these activities.
News Covered:
https://www.prnewswire.com/news-releases/radiation-hardened-electronics-market-worth-1-8-billion-by-2027--exclusive-report-by-marketsandmarkets-301553632.html
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