According to MarkNtel Advisors, the Global Radiation Hardened Electronics Market is expected to grow at a CAGR of around 4.1% in the forecast period of 2022-28. The market is driven primarily by the burgeoning demand for power management devices, diodes, MOSFETS, & transistors in defense & space applications.
Moreover, technological advancements are increasing the need for integrating radiation-hardened electronics into various devices. The mounting number of space missions and the global demand for satellite communications are other crucial factors augmenting the market growth.
However, high costs associated with the development and testing of radiation-hardened electronics is the biggest challenge that could restrain the market growth in the coming years, further states the research report, “Global Radiation Hardened Electronics Market Analysis, 2022.”
Space Applications to Dominate the Global Radiation Hardened Electronics Market with the Largest Share through 2028
The radiation-hardened electronics are designed in such a way to withstand significantly more radiation than conventional devices, which helps them prevent the satellite components from physical & logical damage like data or communication losses. These factors make radiation-hardened electronics highly suitable for designing systems used in Space applications.
Further, the growing demand for affordable satellite communications for applications like TV broadcasting, cell phone connectivity, space-based agriculture surveillance & monitoring, etc., are other crucial factors driving the demand for radiation-hardened electronics for the efficient functioning of satellites.
“Global Radiation Hardened Electronics Market Analysis, 2022” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
North America Acquired the Largest Share in the Global Radiation Hardened Electronics Market
The strong presence of the leading industry players & research institutes and robust manufacturing and R&D infrastructure across the region are the prime reasons behind the market dominance of North America. The United States, one of the biggest users of satellite-based communication systems, has the largest regional market share, owing to the massive investments by the country in making integrated technologies for making advanced weapons used in various military applications.
According to MarkNtel Advisors, the leading industry players in the Global Radiation Hardened Electronics Market are Analog Devices Inc., Anaren Inc., BAE Systems, Cobham PLC, Data Device Corp., Honeywell International Inc., IBM Corp, Infineon Technologies, Microchip Technologies Inc., Micropac Technology Inc., Renesas Electronics Corporation, Solid State Devices Inc., ST Microelectronics N.V., Texas Instruments, Teledyne Technologies Inc., The Boeing Company, Xilinx Inc.
Key Questions Answered in the Study