Report : Europe 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 4.5% CAGR, the Europe Radiation-Hardened Electronics Market is speculated to be worth US$ 624.22 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe radiation-hardened electronics market was valued at US$ 457.71 million in 2021 and is expected to reach US$ 624.22 million by 2028, registering an annual growth rate of 4.5% from 2021 to 2028. Escalating investment in space programs and surging procurement of radiation-hardened electronics are the critical factors attributed to the market expansion.
Space programs across developed and developing countries have experienced a rise in investment. This growth is attributed to the rising initiatives by government bodies and huge investments made in developing new satellites for studying various aspects of space. Apart from space studies, satellites are actively being developed and launched to offer space-based internet services and navigation. The development of satellites has rapidly increased across the major countries. The European Space Agency, in November 2021, launched a pair of Galileo satellites that works as a navigation system. Additionally, the European Union (EU), in December 2020, announced its plans to build a mega constellation of satellites in Earth orbit with an investment of US$ 8.7 million. Radiation-hardened electronics are being actively used across satellites to protect them from solar flares and any other harsh environmental conditions. Thus, the rise in satellite development across the region is fueling the demand for radiation-hardened electronics, thereby contributing to the growth of the market.
On the contrary, high cost of installation hurdles the growth of Europe radiation-hardened electronics market.
Based on component, the Europe 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 42.8% market share in 2021, amassing US$ 195.77 million. It is projected to garner US$ 282.97 million by 2028 to expand at 5.4% CAGR during 2021–2028.
Based on manufacturing technique, the Europe 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 74.7% market share in 2021, amassing US$ 341.81 million. It is projected to garner US$ 476.15 million by 2028 to expand at 4.8% CAGR during 2021–2028.
Based on application, the Europe radiation-hardened electronics market is segmented into aerospace & defense, nuclear power plant, space, and others. The space segment held 42.6% market share in 2021, amassing US$ 194.82 million. It is projected to garner US$ 252.15 million by 2028 to expand at 3.8% CAGR during 2021–2028.
Based on country, the Europe radiation-hardened electronics market is segmented into France, Germany, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Germany captured 22.0% market share in 2021. It was assessed at US$ 100.65 million in 2021 and is likely to hit US$ 125.53 million by 2028, exhibiting a CAGR of 3.2% during the forecast period.
Key players dominating the Europe 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 2020, VORAGO Technologies has announced a collaboration with BrainChip. The collaboration will help a NASA Phase I initiative to develop a neuromorphic processor that satisfies spaceflight standards. Payments to cover the Company's expenditures to assist partner requirements are included in the EAP agreement.
• In 2021, Microchip has announced the expansion of its radiation-hardened Arm microcontroller SAMRH71 and the availability of the SAMRH707 microcontroller (MCU), both of which use Arm Cortex-M7 SoC radiation-hardening technology.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email Id: firstname.lastname@example.org