Global Radiation Hardened Electronics Market (2022 to 2027) - Increasing Demand for Reconfigurable Radiation-Hardened Electronics Presents Opportunities
DUBLIN, Aug. 23, 2022 /PRNewswire/ -- The "Radiation Hardened Electronics Market by Component (Mixed Signal ICs, Processors & Controllers, Memory, Power Management), Manufacturing Techniques (RHBD, RHBP), Product Type, Application and Geography (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
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. Furthermore, increasing demand for radiation-hardened electronics in commercial satellites has increased the demand for radiation-hardened electronics systems.
The market for memory components is expected to grow at higher CAGR during the forecast period
Memory in the component segment is expected to grow at the fastest CAGR during the forecast period. The growth is driven by 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 a large amount of data obtained from various sensors and processors.
The aerospace industry is shifting from data processing from the ground to actual satellites which require low latency and high computational power. SRAM is offering a better solution for image processing in onboard 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 the 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 by 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 an increase in opportunities for radiation-hardened components. The 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 omponents.
Key Topics Covered:
8. Radiation-Hardened Electronics Market, by Manufacturing Technique
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