Radiation-Hardened Electronics Market Size, Share, Growth And Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Radiation-Hardened Electronics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The radiation-hardened electronics market size has grown steadily in recent years. It will grow from $1.68 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to military and defense applications, nuclear industry requirements, high-altitude aerospace mission, medical and healthcare equipment, security and critical infrastructure.

The radiation-hardened electronics market size is expected to see steady growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to rise of autonomous vehicles, miniaturization and compact electronics demand, iot and connected devices in extreme environments, security and critical infrastructure growth, expansion in medical devices. Major trends in the forecast period include space exploration and satellite technology, technological advancements, high-altitude aerospace applications, medical and healthcare equipment.

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Market Drivers and Trends:

The increase in geopolitical tensions is expected to propel the growth of radiation-hardened electronics market going forward. Geopolitical tensions refer to political conflicts, rivalries, or disputes among nations or regions, often related to issues such as territory, resources, power, or ideology. Radiation-hardened electronics plays a critical role in maintaining military advantage to protect communications satellites from jamming or attack, and to ensure that military aircraft and vehicles can operate in high-radiation environments. For instance, in March 2022, according to The Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit organization, 2020, there were 33,331 reported events of political violence targeting civilians, which increased by 12% to reach 37,185 events in 2021. Similarly, civilian fatalities rose by 8%, with 35,879 reported fatalities in 2020 compared to 38,658 in 2021. Therefore, the increase in geopolitical tensions is driving the growth of radiation-hardened electronics market.

Technological advancement is a key trend gaining popularity in the radiation-hardened electronics market. Major companies operating in the radiation-hardened electronics market are focused on advanced technologies to strengthen their position in the market. For instance, in July 2021, Renesas Electronics Corporation, a Japan-based semiconductor manufacturer, launched a brand-new series of radiation-hardened (rad-hard), plastic-packaged components for satellite power management systems. The ISL71001SLHM/SEHM point of load (POL) buck regulator, the ISL71610SLHM and ISL71710SLHM digital isolators, and the ISL73033SLHM 100V GaN FET and integrated low-side driver are the four new devices. These devices are all made with Giant Magneto Resistive (GMR) isolation technology, which offers better radiation tolerance than the currently available space-grade optocouplers. It combines high levels of assurance with the board area savings and cost benefits of plastic packing.

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Major Key Players of the Market:

Microchip Technology Inc., BAE Systems Inc., Renesas Electronics Corporation, Infineon Technologies AG, STMicroelectronics, Xilinx Inc., Texas Instruments Incorporated, Honeywell International Inc., Analog Devices Inc., Micropac Industries Inc., GSI Technology Inc., Mercury Systems Inc., Teledyne Technologies, Vorago Technologies, Maxwell Technologies, TTM Technologies Inc., International Business Machines Corporation, Data Device Corporation, Atmel Corporation, Intersil Corporation, Linear Technology Corporation, National Semiconductor Corporation, On Semiconductor Corporation, Silicon Laboratories Inc., Microsemi Corporation, X-Celeprint Limited, ABLIC Inc., Aeroflex Inc., Analogic Corporation, Crane Aerospace & Electronics

Radiation-Hardened Electronics Market 2024 Key Insights:

• The radiation-hardened electronics market size is expected to see steady growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
• Rising Number Of Satellites To Drive Market Growth
• Technological Advancements Driving Innovation In Radiation-Hardened Electronics Market
• North America was the largest region in the radiation hardened electronics market in 2023

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