Radiation Hardened Electronic Devices and Components Market is estimated to reach $11.36 billion by 2023 growing at a CAGR 6.2% during 2018-2023
America established with major share and growth in the Radiation Hardened Electronic Devices and Components Market
American radiation hardened and radiation tolerant device market generated 44% of the total revenue, followed by Asia-Pacific and Europe accounting for 25% and 24% of revenue respectively in 2017. The American market is expected to grow at a CAGR of 5.8% to reach a value of $4.89 billion by 2023. The reason behind the current status of the market is more amount of money spent over engineering services. The current plans involve investment in space and defence, which will turn the rad chip market to grow in the future. Asia-Pacific is the second leading region in radiation control chip market. The APAC market is witnessed to grow at a faster CAGR of 8.3% to reach a value of $3.29 billion by 2023. Increasing investment in space research and exploration activities are the reason behind the growth in this region.
Selected Material and Vertical analysis done in the full Report:
Silicon occupies the major share in the global rad hard and rad-tolerant market generating revenue of $6.02 billion in 2017. This segment is estimated to grow at a CAGR of 5.9% to reach $8.43 billion in 2023. The marketplace for SiC is forecast to witness highest growth of 8% through 2023. The total market for rad-hard and rad-tolerant devices and electrical components was $7.92 billion in 2017 and is growing at a CAGR of 6.2% to reach $11.35 billion by 2023. The maximum share is held by military, on the rise of 6.5% CAGR to reach revenue of $6.51 billion by 2023. It is followed by aerospace, which generated revenue of $3.69 billion by 2023, growing at a CAGR of 5.4% during forecast 2018-2023.
Excerpts on Market Growth Factors
- Consumer market has a major effect on the military market. The devices often used are higher performance based. The growing application in consumer electronics and medical segments is projected to play vital role to drive the market.
- Increasing demand for RAD hard electronics from the communication satellites segment and increasing number of space missions in various countries are driving factors for the growth of the market.
- Growing Intelligence, Surveillance and Reconnaissance operations, for multicore processor technology and FPGA development will drive the market in future.
Key players of the Radiation Hardened Electronic Devices and Components Market
Microsemi Corporation, Intersil Corporation, Xilinx Inc., Atmel Corporation and Texas Instruments Inc., are the leading manufacturers of radiation tolerant/commercial electronic devices. Intesil Corporation serves in Digital power controllers, modules and switching regulators. Under power controllers, gaming consoles, tablets and handsets come under consumer product. Xilinx Inc. is a manufacturing company in end-user market, where wired, wireless communications, scientific and medical, aerospace and other devices are developed. Atmel Corporation is the leading designer of developer and supplier of radiation hardened microcontroller. Products offered are Microcontrollers, Non-volatile Memories, Radio-Frequency (RF) and automotive, Application Specific Integrated Circuits (ASICs). The favorable outcome has helped the leading players towards development and testing for new and innovation products.
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