The Radiation-Hardened Electronics Market was expected to be worth USD 1.4 billion in 2020 and is anticipated to grow to USD 1.7 billion by 2026, registering a CAGR of 3.5 percent over the forecast period (2020-2026). Electronics that have been radiation-hardened are used by industries to shield equipment from radiation damage. Rad-hard electronics have applications in nuclear power plants, space (satellites), aerospace & defence, implantable medical technology, and academic research. The market for rad-hard electronics is expanding as a result of factors including the expansion of international intelligence, surveillance, and reconnaissance (ISR) operations, an increase in the number of space missions, and rising demand from the commercial satellite sector. Nevertheless, it is anticipated that the market's expansion throughout the assessment period will be constrained by the high costs of testing and development.
The COVID-19 pandemic's effects on the development of the global market for radiation-hardened electronics, as well as its sectors and regional markets, are also covered in the report. For instance, the interruptions generated across supply chains during COVID-19 have a significant impact on the fabrication of satellites as an usage for rad-hard electronic components. This is because there are few suppliers in this sector, which is characterised by low production volumes and high levels of expertise.
Bae Systems (UK), STMicroelectronics (Switzerland), Microchip Technology (US), Renesas Electronics (Japan), Honeywell Aerospace & Defense (US), and Infineon Technologies (Germany) are the market leaders in radiation-hardened electronics. To extend their presence in the worldwide market, these businesses have employed a variety of growth methods, including product integrations, geographic expansions, collaborations, and new product releases.
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In 2019, BAE Systems held the top position in the market for rad-hard electronics. The business offers goods and services for the air, sea, land, and cyber domains. It is a multinational defence, aerospace, and security corporation. At the component, card, and unit levels, the company creates and offers cutting-edge, high-reliability radiation-hardened electronics. The corporation has several subsidiaries, including Armstrong Whitworth Aircraft Limited, Avro International Aerospace Limited, Aero International Limited, and Flight Control Management GmbH (Germany). The company is well-represented in the US, Saudi Arabia, Australia, the UK, and the UK.
In terms of rad-hard electronics, Microchip Technology came in second place in 2019. In addition to FPGAs, ASICs, RF components, diodes, transistors, MOSFETs, hybrids, power supplies, custom semiconductor packaging, and integrated power distribution systems, the company offers a wide range of radiation-hardened and radiation-tolerant space goods. Microchip Technology has taken part in numerous space-related projects for various space missions.
Infineon Technologies is another significant competitor in the rad-rad electronics sector. Through its IR HiRel subsidiary, the company offers rad-hard power and RF solutions for satellites and space exploration. The corporation enjoys a dominant market position across practically all of the industries in which it competes, and the revenue generated by each of its business areas is evenly distributed. The corporation has a competitive edge thanks to its strong presence in a number of markets. Infineon Technology uses the Product Launch approach as one of its primary business strategies. For instance, IR HiRel, a division of Infineon Technologies, introduced the CoolMOS technology platform in April 2020 and radiation-hardened MOSFETs contained in a novel direct-to-printed Circuit Board (PCB) mounting package in June 2020.
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