Report : Middle East & Africa 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 2.7% CAGR, the MEA Radiation-Hardened Electronics Market is speculated to be worth US$ 87.43 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA radiation-hardened electronics market was valued at US$ 72.40 million in 2021 and is expected to reach US$ 87.43 million by 2028, registering an annual growth rate of 2.7% from 2021 to 2028. Rising adoption of radiation-hardened electronics for medical applications and increasing 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 MEA radiation-hardened electronics market.
Based on component, the MEA 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 45.6% market share in 2021, amassing US$ 33.02 million. It is projected to garner US$ 41.95 million by 2028 to expand at 3.5% CAGR during 2021–2028.
Based on manufacturing technique, the MEA 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 69.4% market share in 2021, amassing US$ 50.26 million. It is projected to garner US$ 62.68 million by 2028 to expand at 3.2% CAGR during 2021–2028.
Based on application, the MEA radiation-hardened electronics market is segmented into aerospace & defense, nuclear power plant, space, and others. The space segment held 34.5% market share in 2021, amassing US$ 24.99 million. It is projected to garner US$ 31.78 million by 2028 to expand at 3.5% CAGR during 2021–2028.
Based on country, the MEA radiation-hardened electronics market is segmented into the Saudi Arabia, UAE, South Africa, and Rest of MEA. Our regional analysis states that the UAE captured 36.2% market share in 2021. It was assessed at US$ 26.22 million in 2021 and is likely to hit US$ 30.18 million by 2028, exhibiting a CAGR of 2.0% during the forecast period.
Key players dominating the MEA 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, The Department of Defense (DoD) has chosen BAE Systems to validate a new generation of integrated circuit technology for use in space's hostile environment. When compared to existing 45 nanometer technology, the new 12 nanometer technology leverages a reduced feature size to make a major leap ahead in space-based computing.
• In 2022, Honeywell and Advanced Electronics Company have signed a memorandum of understanding (MOU) to offer Honeywell JetWave MCX satellite communication system upgrade projects for the Royal Saudi Air Force and other regional military and VIP aircraft operators.
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