The global radiation‐hardened electronics market revenue is projected to be $2,104.2 million in 2030, witnessing a compound annual growth rate of 3.5% during 2021–2030. This can be ascribed to the rising demand for radiation‐hardened components in the healthcare and nuclear power industries, rising number of satellite launches, and advancements in the technology of the processors used in space and military applications.
The space category is set to witness the fastest growth during the forecast period, at a CAGR of around 4%. New space activities, such as space tourism, zero-G, and asteroid mining, are increasing the demand for advanced satellite systems. Likewise, the rising usage of CubeSats and NanoSats for several applications, to reduce the launch and operational cost, is driving the demand for miniature, hardened electronic components.
Furthermore, radiation-hardening by design (RHBD) held the largest share in the radiation‐hardened electronics market, under segmentation by manufacturing technique. Highly ionizing radiation particles cause a single-event effect in the semiconductor device. For instance, as per a government source, 45% of the spacecraft defects are related to radiation effects. To minimize this effect, the material shielding process can be used, but it increases the weight of the device. RHBD is the ideal choice to make radiation-resistant devices and boost the demand for them among various industries.
Geographically, North America captured the major market share in 2021. This was due to the rising demand for the advancement of the existing missile systems and introduction of several unmanned ground vehicles. These vehicles are used for hazardous missions, such as surveillance, reconnaissance, and combat. The operations of military vehicles in extreme environmental conditions, such as severe cold and heat, also demand radiation-hardened components.
Key players in the radiation‐hardened electronics market are collaborating and partnering with each other for augmenting their revenue. For instance:
In August 2021, BAE Systems signed an agreement to collaborate with Global Foundries to produce a radiation-hardened single-board computer for space. Under this agreement, the computer is being designed by BAE Systems and manufactured by Global Foundries. The new computer will provide more-advanced software-compatible processing services than the older radiation-hardened general-purpose processor, while demanding less power from the spacecraft, under the brand Power Architecture.
Key players in the market include BAE Systems, Infineon Technologies AG, STMicroelectronics, Microchip Technology Inc., Analog Devices Inc., Honeywell International Inc., Micropac Industries Inc., Texas Instruments Inc., The Boeing Company, and Advanced Micro Devices Inc.