during the forecast period. Growing intelligence, surveillance, and reconnaissance (ISR) operations worldwide is driving the market for radiation hardened electronics. ISR space operations also include the constellation of satellites that is used for tracking targets, missile warning, data coverage, communication, and other capabilities, which accelerates the demand for radiation-hardened electronics.
New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Radiation Hardened Electronics Market by Component, Manufacturing Techniques, Product Type, Application and Geography" - https://www.reportlinker.com/p04247288/?utm_source=GNW
Furthermore, increasing demand for radiation hardened electronics in commercial satellites has increased the demand for radiation-hardened electronics systems.
The market for memory component is expected to grow at higher CAGR during the forecast period
Memory in component segment is expected to grow at the fastest CAGR during the forecast period.The growth is driven with the increasing adoption of radiation-hardened memory solutions for compute intensive applications in the aerospace & space sector.
It helps to deliver high density and improved performance to handle large amount of data obtained from various sensors and processors.The aerospace industry is shifting from data processing from ground to actual satellites which require low latency and high computational power.
SRAM is offering a better solution for image processing in on board satellites by offering high memory bank restriction and improved latency.
Radiation hardened electronics market for space application is expected to grow with the highest CAGR during the forecast period
The economic importance of the space sector has increased, as several commercial players have developed innovative products and services related to telecommunication, navigation, etc.This is expected to propel the requirement for new satellite systems, driving the growth opportunities for radiation hardened electronics market.
According to Space Foundation Report 2021, the global space economy has increased to USD 447 billion, with an increase of 4.4% in comparison to 2019. Moreover, increasing government initiatives to support the space infrastructure is a further advantage for market growth. Radiation-hardened component designers tend to increase capabilities for government and consumer space applications. Thus, there is a growing requirement for radiation immunity and signal processing for spacecraft and satellite electronic systems. Despite the economic slowdown and cancellations of several space programs, the demand from designers and integrators for radiation-hardened electronic components in the military & commercial satellite applications has not decreased. The need for high-performance signal processing payloads that can survive in a variety of high-radiation environments for longer periods of time is driving the demand for radiation hardened electronics in space applications.
Radiation hardened electronics market in Asia Pacific region to register highest CAGR between 2022 and 2027
The radiation hardened electronics market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.The growth is driven with the rising government initiatives and funding activities for space/satellite industry.
Various countries in the region are focusing on developing and launching homegrown satellites and spacecraft. For instance, in March 2022, the Wuhan city government announced providing USD 7.88 million cash incentives for projects connected with manufacturing rockets, satellites, and spacecraft. These financial incentives for the space industry are expected to drive increase in opportunities for radiation-hardened components. Technological and manufacturing abilities of China and Japan make the region a tough competitor in the global market. The Indian Space Research Organization (ISRO), China National Space Administration (CNSA), Japan Aerospace Exploration Agency (JAXA), Indian Intelligence Agencies, and Japan Ministry of Defense are some of the renowned institutions making effective use of radiation-hardened components.
Breakdown of primaries
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the radiation hardened electronics market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: Asia Pacific –40%, North America– 30%, Europe – 25%, and Rest of the World – 5%
Key players in the radiation hardened electronics market are Microchip Technology Inc. (US), BAE Systems (UK), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Xilinx, Inc. (US), Texas Instruments Incorporated (US), Honeywell International Inc. (US), Teledyne Technologies Inc. (US), and TTM Technologies, Inc. (US). SMEs/startups covered in the study are Cobham Limited (UK), Analog Devices, Inc (US), Data Devices Corporation (US), 3D Plus (France), Mercury Systems, Inc. (US), PCB Piezotronics, Inc (US), Vorago (US), Micropac Industries, Inc (US), GSI technology, Inc (US), Everspin Technologies Inc (US), Semiconductor Components Industries, LLC (US), AiTech (US), Microelectronics Research Development Corporation (US), Space Micro, Inc (US), and Triad Semiconductor ( US).
The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the radiation hardened electronics market.It also includes technology trends, trade data, and patent analysis.
This research report categorizes the radiation hardened electronics market based on component, manufacturing techniques, product type, and region. A detailed analysis of the key industry players was carried out to provide insights into their business overviews; solutions and services offered; key strategies adopted that include new product launches, deals (acquisitions, partnerships, agreements, and contracts), and others (expansions), and COVID-19 impact on radiation hardened electronics market.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the radiation hardened electronics market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies, based on market share/rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, pricing analysis, and technological trends that will shape the market in the coming years has also been covered in this report.
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