Report : Asia Pacific Radiation-Hardened Electronics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Power Management Components, Analog and Digital Mixed Signal Devices, Memory, and Controllers & Processors), Manufacturing Technique [(Radiation Hardening by Design (RHBD) and Radiation Hardening by Process (RHBP)], and Application (Aerospace & Defense, Nuclear Power Plant, Space, and Others)
At 5.6% CAGR, the APAC Radiation-Hardened Electronics Market is speculated to be worth US$ 366.01 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC radiation-hardened electronics market was valued at US$ 250.30 million in 2021 and is expected to reach US$ 366.01 million by 2028, registering an annual growth rate of 5.6% from 2021 to 2028. Surging adoption of radiation-hardened electronics for medical applications and escalating investment in product development by major players are the critical factors attributed to the market expansion.
Medical devices, including wearable devices, are prone to wear and tear and are exposed to harsh environments, propelling the demand for radiation-hardened electronics to sterilize the device to the surrounding environment, thereby protecting them from any damage. Additionally, the devices used across medical facilities such as radiation rooms are also exposed to high-temperature fluctuations, increasing the demand for radiation-hardened electronics for medical applications. The rapidly growing medical equipment manufacturing industry across developed and developing countries is expected to contribute to the radiation-hardened electronics market. The high investment by government bodies to promote infrastructural development across medical facilities and equip the same with the latest medical devices further contributes to the high medical equipment manufacturing across the region. For instance, developing countries have experienced a rise in demand for medical equipment and product due to government initiatives. Additionally, other countries have the presence of renewed medical equipment manufacturers that are constantly investing in the development of technologically advanced and compact medical equipment designs. These factors are expected to influence the demand for radiation-hardened electronics from the medical applications sector, thereby contributing to the growth of the market across the region.
On the contrary, high cost of installation hurdles the growth of APAC radiation-hardened electronics market.
Based on component, the APAC radiation-hardened electronics market is segmented into power management components, analog and digital mixed signal devices, memory, and controllers & processors. The power management component segment held 41.0% market share in 2021, amassing US$ 102.74 million. It is projected to garner US$ 159.65 million by 2028 to expand at 6.5% CAGR during 2021–2028.
Based on manufacturing technique, the APAC radiation-hardened electronics market is segmented into radiation hardening by design (RHBD) and radiation hardening by process (RHBP). The radiation hardening by design (RHBD) segment held 72.1% market share in 2021, amassing US$ 180.40 million. It is projected to garner US$ 270.29 million by 2028 to expand at 5.9% CAGR during 2021–2028.
Based on application, the APAC radiation-hardened electronics market is segmented into aerospace & defense, nuclear power plant, space, and others. The space segment held 37.3% market share in 2021, amassing US$ 93.44 million. It is projected to garner US$ 132.81 million by 2028 to expand at 5.2% CAGR during 2021–2028.
Based on country, the APAC radiation-hardened electronics market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 30.2% market share in 2021. It was assessed at US$ 75.61 million in 2021 and is likely to hit US$ 109.80 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.
Key players dominating the APAC radiation-hardened electronics market are BAE Systems; Data Device Corporation; Honeywell International Inc.; Infineon Technologies AG; Microchip Technology Inc.; Renesas Electronics Corporation; STMicroelectronics; Texas Instruments Incorporated; VORAGO Technologies; and Xilinx, Inc. (AMD) among others.
- In 2021, Infineon Technologies announced the acquisition of Syntronix Asia. Syntronixs Asia employs more than 500 individuals and has served Infineon as a significant service supplier since 2009. Precision electroplating is a vital operation in the semiconductor assembly process that is necessary to assure the high quality and long-term dependability of Infineon's products.
- In 2022, STMicroelectronics announced the release of low-cost radiation-hardened ICs for satellites on a budget. A data converter, a voltage regulator, an LVDS transceiver, a line driver, and five logic gates are among the first nine devices in this series, which are utilized in systems such as power production and distribution, on-board computers, telemetry star trackers, and transceivers.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email Id: sam@businessmarketinsights.com