PUNE, India, October 18, 2016 /PRNewswire/ --
According to the new market research report "Radiation-Hardened Electronics Market by Component (Power Management, ASIC, Logic, Memory & FPGA), Manufacturing Technique (RHBD & RHBP), Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow from USD 935.9 Million in 2015 to reach USD 1,277.4 Million by 2022, at a CAGR of 4.46% between 2016 and 2022.
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Browse 75 market data Tables and 83 Figures spread through 161 Pages and in-depth TOC on "Radiation-Hardened Electronics Market".
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The growing intelligence, surveillance, and reconnaissance (ISR) operations globally, advancements in FPGA & multicore processor technologies for defense and space applications, and the demand from the commercial satellite industry are expected to drive the rad-hard market further in the near future.
Market for power management component likely to grow at the highest rate during the forecast period
Power management components have been a major market for radiation-hardened electronics. With the increased demand for transistors, diodes, and MOSFETs in various space and defense applications, more and more advancements in this technology is taking place and is focused on integrating radiation-hardened electronics power management chipsets into various devices. Power management components are greatly influenced by the rad-hard electronics market. MOSFETs are the most widely used components by almost every industry in the modern era and are posing good opportunities for industry players to invest in such technologies.
Space (Satellite) application held the largest share of radiation-hardened electronics market in 2015
The radiation-hardened electronics market is led by the space application, which is further segmented into military & commercial applications. The increasing number of space missions conducted globally is expected to drive the growth of the radiation-hardened electronics market for the space application during the forecast period. The demand from commercial industries for robust and reliable radiation-hardened electronic components in satellites creates good growth opportunities in the near future.
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North America held the largest market share in 2015
North America held the largest share of the radiation-hardened electronics market in 2015, followed by Europe and APAC. The U.S. accounted for the largest share of the radiation-hardened electronics market in North America, followed by Canada and Mexico. The high growth of the market in this region can be attributed to the increasing demand for rad-hard components owing to the presence of a large number of rad-hard component manufacturers in North America as well as some renowned space & defense research institutes.
The key manufacturers of radiation-hardened electronics market include, BAE Systems (U.K.), Honeywell Aerospace (U.S.), Microsemi Corporation (U.S.), Atmel Corporation (U.S.) and Xilinx, Inc. (U.S.), among others.
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