At 3.9% CAGR, North America Radiation Hardened Feedback Sensors Market is Projected to be Worth US$ 59.60 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America radiation hardened feedback sensors market was valued at US$ 43.76 million in 2023 and is expected to reach US$ 59.60 million by 2031, registering a CAGR of 3.9% from 2023 to 2031. Increasing demand from nuclear power plants and increasing research and development activities are among the critical factors attributed to drive the North America radiation hardened feedback sensors market growth.

Nuclear power plants are involved in generating electricity through the process of nuclear fission. In this process, a significant amount of power is produced, which generates a substantial amount of radiation. This radiation is harmful to humans and can damage electronic equipment, increasing the demand for radiation hardened feedback sensors. Radiation hardened feedback sensors are strategically placed throughout the plant to monitor temperature variations in critical areas, such as the coolant systems, reactor core, and various components. These sensors provide continuous feedback to the control systems, enabling plant operators to take necessary actions for maintaining the desired temperature range and make informed decisions to improve the system's performance. Several companies are making significant investments in developing power plants. For instance, according to the US Department of Energy (DOE) data published in January 2024, the DOE invested ~US$ 12 billion in Plant Vogtle to provide more than 1,100 megawatts of clean power to the grid once in operation.

The DOE invested US$ 2.5 billion in TerraPower to construct a sodium-cooled fast reactor and molten salt energy storage system near a retiring coal plant in Kemmerer, Wyoming. These nuclear power plants require a number of coolant systems, steam generators, reactor cores, coolant loops, condensers, and various other components to operate and generate green energy properly. These components are integrated with radiation hardened pressure sensors to monitor and regulate pressure levels in different systems. Radiation hardened pressure sensors help plant operators to ensure the safe and efficient operation of these systems, preventing potential leaks or failures, and enhancing plant safety, which is propelling the market.

On the contrary, high cost associated with production of radiation hardened feedback sensors hampers the growth of North America radiation hardened feedback sensors market.

Based on sensor, the North America radiation hardened feedback sensors market is segmented into resolver, encoder, hall effect sensor, potentiometer, and others. The resolver segment held 28.2% market share in 2023, amassing US$ 12.32 million. It is projected to garner US$ 17.86 million by 2031 to register 4.7% CAGR during 2023-2031.

By application, the North America radiation hardened feedback sensors market is segmented into space, aerospace and defense, nuclear power plant, and others. The space segment held 41.9% share of North America radiation hardened feedback sensors market in 2023, amassing US$ 18.32 million. It is anticipated to garner US$ 25.69 million by 2031 to expand at 4.3% CAGR during 2023-2031.

Based on country, the North America radiation hardened feedback sensors market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.5% share of North America radiation hardened feedback sensors market in 2023. It was assessed at US$ 36.52 million in 2023 and is likely to hit US$ 50.25 million by 2031, registering a CAGR of 4.1% during 2023-2031.

Key players operating in the North America radiation hardened feedback sensors market are Power Device Corporation; NewTek Sensor Solutions; Honeywell International Inc; Dynapar Corporation; EMPIRE MAGNETICS, INC; Magics Technologies NV; Netzer Precision Position Sensors A.C.S. Ltd.; and Computer Conversions Corporation, among others.

• In March 2023, The energy sector uses NewTek LVDT position sensors as metrology tools to ensure the proper operation of different power systems. For example, position sensors monitor gas turbine servo controls, fuel valve position, and micro fuel valve openings in the operation of gas turbines.

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