Report : North America 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 4.0% CAGR, the North America Radiation-Hardened Electronics Market is speculated to be worth US$ 931.19 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America radiation-hardened electronics market was valued at US$ 709.13 million in 2021 and is expected to reach US$ 931.19 million by 2028, registering an annual growth rate of 4.0% from 2021 to 2028. Escalating procurement of radiation-hardened electronics and surging investment in space programs are the critical factors attributed to the market expansion.
Over the years, satellites have experienced high adoption across various industries such as communication, networking, television broadcast, and space-based surveillance. The satellites are prone to solar flares, which leads to system failures. This influences the adoption of radiation-hardened electronics across the end-use industries such as aerospace and defense, nuclear power plants, and space. Some of the major procurement of radiation-hardened electronics across the region has occurred in past years. For instance, the US Government awarded Silicon Technologies Inc. (STI) a 2-year contract in July 2019 to create Radiation Hardened by Design (RHBD), Process Portable, and Mixed Signal Design IP. The primary goal of this arrangement was to increase the US government's access to radiation-hardened equipment. This arrangement is for radiation-hardened electronic prototype demonstrations for new electronic component solutions to support strategic and space missions by the US government. The rise in procurement of radiation-hardened electronics by various organizations is fueling the growth of the radiation-hardened electronics market across the region.
On the contrary, high cost of installation hurdles the growth of North America radiation-hardened electronics market.
Based on component, the North America 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 43.3% market share in 2021, amassing US$ 306.94 million. It is projected to garner US$ 425.95 million by 2028 to expand at 4.8% CAGR during 2021–2028.
Based on manufacturing technique, the North America 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 57.9% market share in 2021, amassing US$ 410.85 million. It is projected to garner US$ 565.75 million by 2028 to expand at 4.7% CAGR during 2021–2028.
Based on application, the North America radiation-hardened electronics market is segmented into aerospace & defense, nuclear power plant, space, and others. The space segment held 40.7% market share in 2021, amassing US$ 288.42 million. It is projected to garner US$ 374.79 million by 2028 to expand at 3.8% CAGR during 2021–2028.
Based on country, the North America radiation-hardened electronics market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.9% market share in 2021. It was assessed at US$ 601.92 million in 2021 and is likely to hit US$ 775.96 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.
Key players dominating the North America 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 2022, Honeywell has established a partnership with SAPA Placencia, a leading producer of electric power solutions and a global leader in heavy vehicle gearboxes. The partnership was founded to work on improving electric power production for military ground vehicles.
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