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PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1405716

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PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1405716

Radiation Hardened Electronics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2024 - 2029

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Radiation Hardened Electronics - Market - IMG1

The Radiation-Hardened Electronics Market is valued at USD 1.81 billion in 2024 and is expected to reach USD 2.18 billion by 2029, registering a CAGR of 3.87% during the forecast period.

Radiation-hardened electronics are used for Intelligence, surveillance, and reconnaissance (ISR) systems, as they are built to survive extreme radiation exposures. The rise in demand for security measures such as monitoring, information collection, and border control is going to fuel the demand for radiation-hardened electronics. In the challenging situation of high radiation levels, radiation-hardened materials require proper power management. Any damage to electronics might lead to safety hazards. Thus, these facilities require reliable radiation-hardened power management systems.

Increased dependence on satellite navigation and other satellite-based applications increased the number of satellite launches and other space missions undertaken on a global level. It is expected to create a demand surge for radiation-hardened electronics to ensure the proper functioning of embedded systems onboard the satellites.

The demand for high-performance semiconductors for real-time imaging, 5G/6G communication in defense and space markets, and high radiation-tolerant electronics for nuclear fusion and SMRs is hindered because of limited availability and performance restrictions. While there are major growth drivers in this area, the availability of parts is scarce and thus poses a challenge for the sector.

However, designing a radiation-hardened electronic test bed is a complex procedure, as the simulation of the space-based working environment requires consideration of several unforeseen factors to test for performance and reliability. With the advancement of technology and the proliferation of applications of radiation-hardened electronics, the cost of conducting extensive R&D for emerging applications is significantly higher and fails to ensure profitability and returns.

Radiation Hardened Electronics Market Trends

Space Application to Lead the Market in The Forecast Period

Satellites are used for a plethora of applications, such as communications, positioning services, and Earth observation. Since the launch of Sputnik in 1957, space-based missions witnessed tremendous growth. It is evident through the construction of the International Space Station and the launch of more than 8,100 space objects, including dozens of exploration missions to every corner of the Solar System. Satellites evolved as the preferential choice for conducting scientific research by the commercial and defense sectors. The increasing demand for satellites encouraged satellite manufacturers to inculcate cost-effective approaches for large-scale production of satellites.

Innovation in radiation-tolerant and radiation-hardened electronics for a variety of tasks ranging from signal processing, digital conversion, power management controls, and solid-state data storage is driven by the increasing number of space applications. Revolutionary technological advancements facilitated the miniaturization of electronics, which pushed the invention of smart materials. It, in turn, reduces the satellite size and mass over time for manufacturers. Driven by the opportunities in the projects involving small satellites, many aerospace giants are also investing in this sector. For instance, in September 2023, Efficient Power Conversion Corporation, EPC, introduced gallium nitride GaN field effect transistors for high reliability and space applications. DCDC power converters, motor drives, lidars, deep probes, and ion thrusters for space applications are applications that benefit from the performance and rapid deployment of these devices. They are particularly suited to Earth orbit satellites with a Low Earth Orbit (LEO), Geosynchronous Earth Orbit (GEO), and Avionics systems. Such developments are anticipated to drive the demand for radiation-hardened electronics, as radiation shielding is a critical design aspect for electronic components for space-based applications.

Radiation Hardened Electronics - Market - IMG2

The North America Region is Expected to Generate the Highest Demand During the Forecast Period

North America is anticipated to dominate the radiation-hardened electronics market during the forecast period, fostered by technological innovations and the presence of a large number of end users, particularly in the US. The US is an avid user of satellite-based telemetry and communication systems, driving the demand for radiation-hardened electronics in North America. An existing robust R&D and manufacturing infrastructure, marked by the presence of several prominent electronics manufacturing companies in the region, also contributed to the persistent growth of the market in focus witnessed in the region. The US is a frontrunner in aerospace and defense applications, and the rapid adoption of network-centric warfare techniques is anticipated to bolster the growth prospects of the market in focus during the forecast period. For instance, the US Air Force awarded a USD 222.6 million contract to General Dynamics Mission Systems for secure and radiation-hardened communications systems. As per the contract, General Dynamics will deliver high-altitude electromagnetic pulse and radiation-hardened general area alerting, ultra-high frequency line-of-sight communications to aircraft.

Radiation Hardened Electronics Industry Overview

Radiation-Hardened Electronics market is moderately fragmented. The prominent players in the radiation-hardened electronics market are Analog Devices, Inc., Data Device Corporation, Microchip Technology Inc., Renesas Electronics Corporation, and IBM Corporation, among others. The electronics manufacturing industry is highly competitive, and with the evolving global battlefield environment and diversification of applications, companies must align their product portfolios to the evolving requirements of end users. The market is also significantly influenced by the dispersion of upgrade contracts to enhance the capabilities of the current fleet of active military assets. In order to gain long-term contracts and enhance their market share, players are investing significantly in the R&D of sophisticated product offerings.

Furthermore, continuous R&D is fostering technological advancements in platforms and associated products and solutions of the active players in the radiation-hardened electronics market. For instance, in April 2023, Coherent Logix offered a HyperX line of radiation-hardened software-defined microprocessors. HyperX's space processors are fully programmable software-defined platforms for video imaging, AI, communications, and adaptive processing on the satellite with Software Defined Networking or Active Cyber Security. Coherent Logix's latest offering is HyperX: Midnight system-on-chip (SoC) processor for space applications.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Product Code: 68030

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 Application
    • 5.1.1 Space
    • 5.1.2 Aerospace and Defense
    • 5.1.3 Nuclear Power Plants
  • 5.2 Component
    • 5.2.1 Microprocessor
    • 5.2.2 FPGA
    • 5.2.3 Memory
    • 5.2.4 Sensors
  • 5.3 Geography
    • 5.3.1 North America
      • 5.3.1.1 United States
      • 5.3.1.2 Canada
    • 5.3.2 Europe
      • 5.3.2.1 United Kingdom
      • 5.3.2.2 France
      • 5.3.2.3 Germany
      • 5.3.2.4 Italy
      • 5.3.2.5 Russia
      • 5.3.2.6 Rest of Europe
    • 5.3.3 Asia-Pacific
      • 5.3.3.1 China
      • 5.3.3.2 India
      • 5.3.3.3 Japan
      • 5.3.3.4 South Korea
      • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Latin America
      • 5.3.4.1 Brazil
      • 5.3.4.2 Mexico
      • 5.3.4.3 Rest of Latin America
    • 5.3.5 Middle-East and Africa
      • 5.3.5.1 United Arab Emirates
      • 5.3.5.2 Saudi Arabia
      • 5.3.5.3 Egypt
      • 5.3.5.4 South Africa
      • 5.3.5.5 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Analog Devices, Inc.
    • 6.2.2 BAE Systems plc
    • 6.2.3 Cobham Limited
    • 6.2.4 Data Device Corporation
    • 6.2.5 Honeywell International Inc.
    • 6.2.6 IBM Corporation
    • 6.2.7 Infineon Technologies AG
    • 6.2.8 Microchip Technology Inc.
    • 6.2.9 Micropac Industries, Inc.
    • 6.2.10 Renesas Electronics Corporation
    • 6.2.11 Solid State Devices, Inc.
    • 6.2.12 STMicroelectronics International N.V.
    • 6.2.13 Texas Instruments (TI)
    • 6.2.14 Advanced Micro Devices, Inc.
    • 6.2.15 General Dynamics Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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