How Does Increase in Satellite Launches Propel Radiation Hardened Electronics Market?

In 2021, the radiation hardened electronics market stood at $1,539.1 million, and it is expected to advance at a rate of 3.5% during 2021-2030, to hit the $2,104.2 million mark by 2030. The surge in demand for radiation-hardened components such as nuclear power plants, medical devices, and aircraft boosts the market. Moreover, North America has acquired the largest market share, of 35%, attributed to the rise in advanced technologies and components' miniaturization.

In addition, APAC holds the third-largest share, and it is expected to witness the same trend in the near future, attributed to the increasing focus of emerging economies such as South Korea and India to fulfil the growing demand through nuclear power plants. India saved 600 million tons of carbon dioxide emission to the environment by generating 755 billion units of electricity and producing nearly 6,700 MW of nuclear energy.

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Reconfigurable radiation-hardened devices have a high demand in the radiation hardened electronics market, resulting in increased opportunities for the players. It enables satellite users to modify depending on the operation scope when it is the orbit, resulting in decreasing reconfiguration costs. The primary companies are increasingly participating to develop new software-defined radiation hardened electronic components.

Commercial off-the-shelf products have captured a substantial radiation hardened electronics market share, of 60%, attributed to the COTS devices' high bandwidth. In addition, the rising private spaceflight industry is growing through open-system architectures, commercial design approaches, and COTS electronic technologies. Moreover, organizations in the healthcare industry are acquiring COTS products instead of designing rather than designing customizes solutions resulting in a market boost.

Radiation-hardened electronics are crucial in space application boosts the radiation hardened electronics market, and it is expected to grow significantly in the forecast years, attributed to the worldwide increasing intelligence, surveillance, and reconnaissance (ISR) operations, resulting in increased opportunities for market players to offer more reliable and robust electronic components for spacecraft.

Moreover, the worldwide surge in the number of internet users with the massive data volume crowds the satellite spectrum, resulting in the growing demand for the radiation hardened electronics. For example, there are around 5 billion internet users globally. In addition, the rising connectivity usage facilitated by the IoT, 5G, high-altitude platform stations, and non-geostationary orbit satellite systems has resulted in an increased requirement for accessing the satellite spectrum's various frequency bands.

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In addition, the rise in the number of satellite launches drives the demand for radiation hardened electronics. For example, around 7,000 individual satellites evolve around the earth, which is 30% higher than the last year. It is expected that around 1000 satellite launches would take place every year, and by 2028, it would result in 16000 satellites in the earth's orbit.

The RHBD category captures the largest share in the radiation hardened electronics market, as it provides several concepts such as layout solutions, and component configuration. It enables the reconfiguration of circuit operations to the prevention of cell failure during missions and facilitates increased reliability in harsh environments. In addition, the primary radioactive material applications are experiencing the integration of electronic components through the RHBD technique.

Therefore, the expansion of the space sector with the rise in satellite launches drives the market.

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This release was published on openPR.