The radiation-hardened electronics market size was valued at US$ 1,520. 86 million in 2021 and is projected to reach US$ 2,045. 04 million by 2028; it is expected to grow at a CAGR of 4. 3% from 2021 to 2028.

New York, May 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Radiation-Hardened Electronics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Manufacturing Technique , and Application" - https://www.reportlinker.com/p06279461/?utm_source=GNW


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 them, thereby protecting them from any damage. Further, 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, hence gaining transaction in the global radiation-hardened electronics market share.

The rapidly growing medical equipment manufacturing industry across developed and developing countries is expected to contribute to the radiation-hardened electronics market growth.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 globe.

For instance, developing countries such as Peru and Chile have experienced a rise in demand for medical equipment and product due to government initiatives.Additionally, other countries such as the US, France, Germany, and Switzerland 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 increase the demand for radiation-hardened electronics from the medical applications sector, thereby fueling the growth of the global radiation-hardened electronics market industry.

The government of Germany has prepared the path for its military departments to undergo modernization.For instance, a few days later, after Russia launched its first strikes on Ukraine, the German government announced the allocation of a special fund of US$ 112 billion (€100 billion) for military purchases and will spend more than ~2% of Germany’s GDP on defense.

As a result, all the firms present in the aerospace & defense ecosystem, including radiation-hardened electronics market vendors, are expected to gain from these increased budgets.These devices will be crucial in developing and designing next-generation military equipment and weapons.

Such factors are likely to boost the growth of the radiation-hardened electronics market in the country.Moreover, through acquisitions and collaboration, the country’s businesses are bolstering their position in the global radiation-hardened electronics market.

For instance, Infineon Technologies announced the acquisition of Cypress Semiconductor Corporation (US) in April 2020. With the addition of Cypress, Infineon will be able to focus even more on structural growth drivers and various applications. Cypress offers a unique set of microcontrollers, networking components, software ecosystems, and high-performance storage. Infineon’s global reach is strengthened by the inclusion of Cypress’ excellent R&D skills and its presence in the US and Japan.

Asia Pacific is the world’s largest semiconductor market.According to a Deloitte report, the region accounts for 60% of global semiconductor sales, with China responsible for more than 30% of sales.

Hence, cutting-edge manufacturing technological capabilities and improving economic conditions in China, India, and Japan make Asia Pacific one of the world’s prominent regions for the radiation-hardened electronics market.Several radiation-hardened electronics market vendors in the region are constantly working to improve their product lines to fulfill the increasing demand of the aerospace sector.

For instance, Renesas launched its high-reliability radiation-hardened plastic portfolio for satellites in medium and geosynchronous Earth orbits in July 2021.The ISL71001SLHM/SEHM point of load (POL) buck regulator, the ISL71610SLHM and ISL71710SLHM digital isolators, and the ISL73033SLHM 100V GaN FET and integrated low-side driver are among the four new products.

Hence, due to its strong R&D capabilities and robust semiconductor industry, Asia Pacific will be a key region to monitor the growth of the radiation-hardened electronics market.

Furthermore, due to increased spending by governmental and non-governmental bodies on enhancing aerospace activities, the market in Europe is expected to develop at a significant rate throughout the forecast period.Moreover, the region’s cutting-edge manufacturing capabilities and research and development for creating high-level electronics are growing.

Similarly, one of the major reasons boosting the market in Asia Pacific is the increasing number of commercial space projects.Furthermore, radiation-hardened devices can survive the extreme temperatures and radiation levels seen in nuclear reactors, helping boost their total sales.

The expanding semiconductor sector across the area is another factor driving the market.

Based on the radiation-hardened electronics market report, the lockdown limitations and restrictions on supply chain and manufacturing operations by the governments of European countries due to COVID-19 had a detrimental impact on the overall industry growth.However, around a year ago, signs of economic recovery began to emerge following the advent of the coronavirus pandemic.

These signs swiftly gained traction in a variety of sectors and regions, resulting in a stronger-than-expected economic recovery and an unprecedented worldwide chip scarcity.Manufacturing capacity became, and continues to be, a limiting concern, especially when natural disasters and the increase in regional Covid cases wreaked havoc.

In this difficult context, numerous organizations quickly turned from addressing underutilization to dealing with severe allocation.

The business conditions were robust in the second half of fiscal 2021 as organizations and individuals adjusted to the new environment after the emergence of the COVID-19 pandemic.However, supply systems were strained since many suppliers had not anticipated economic disturbances.

However, with the recovery in economic circumstances, many businesses resumed their operations. In 2021, Microchip Technologies, a US-based semiconductor firm, set new records for net sales, non-GAAP gross margins, operating income, net income, and EPS.

The overall global radiation-hardened electronics market size has been derived using both primary and secondary sources.Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the radiation-hardened electronics market.

The process also serves the purpose of obtaining an overview and forecast for the radiation-hardened electronics market with respect to all the market segments.Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, radiation-hardened electronics market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the radiation-hardened electronics market.
Read the full report: https://www.reportlinker.com/p06279461/?utm_source=GNW

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