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Radiation-Hardened Electronics Market with COVID-19 impact, by Component, Manufacturing Technique, Application, Product Type And Geography - Global Forecast to 2026

Radiation-Hardened Electronics Market with COVID-19 impact, by Component, Manufacturing Technique, Application, Product Type And Geography - Global Forecast to 2026

  • November 2020
  • 192 pages
  • ID: 4247288
  • Format: PDF
  • MarketsandMarkets

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The market for radiation-hardened electronics was valued at USD 1.4 billion in 2020 and is estimated to reach USD 1.7 billion by 2026, registering a CAGR of 3.5% during the forecast period (2020–2026). Industries use radiation-hardened electronics to protect devices/systems from the effects of radiation. The application areas of rad-hard electronics include space (satellites), aerospace & defense, nuclear power plants, implantable medical devices, and scientific research. In the space application, radiation-hardened electronics are extensively used in commercial and military satellites. The radiation-hardened electronics market based on components has been classified into analog & digital devices, processors & memory, memory, and power management.
The COVID-19 outbreak, which has been declared a global pandemic, has led to severe disruptions in the market.In response, various government bodies and private enterprises have implemented numerous measures to contain the outbreak, such as travel bans and restrictions, quarantines, shelter-in-place orders, and factory and office shutdowns.

These measures and other public and private responses to the outbreak have impacted, and may further impact, the operations of companies, partners, vendors, and suppliers.The spread of COVID-19 could adversely impact manufacturers’ ability to perform critical functions, such as the research and development of new products, manufacturing of product components, final assembly of products, and distribution and sale.

Major countries in APAC region such as Singapore, China, India, and South Korea have been affected by the COVID-19 outbreak. Restrictions on manufacturing facilities, support operations or workforce, limitations for vendors and suppliers, and disruptions of transportation, such as reduced availability of air transport could limit the capacity to meet demand and impact the market for next few years.
General economic, industry, public health, or political conditions in the US, including ongoing uncertainty surrounding the COVID-19 virus and its implications, have caused disruptions in businesses and supply chains. The level of order cancellations or push-outs due to the impact of the COVID-19 virus, trade restrictions and changes in tariffs, changes in tax regulations and policies in the US, and the impact of the Tax Cuts and Jobs Act of 2017 (the Act) have caused a significant impact on the growth of the radiation-hardened electronics market.

RHBD manufacturing technique likely to hold the largest share of the Radiation-hardened electronics market, in terms of value, in 2020 and a similar trend is expected to continue until 2026
The Radiation-hardened electronics market for RHBD is projected to grow at the highest CAGR during the forecast period. RHBD approach is favored by space electronics for which the mission lifetime requirements are more imperative than for the aerospace industry.

Asia Pacific: The fastest-growing region in the radiation-hardened electronics market.
The Asia Pacific region is estimated to dominate the radiation-hardened electronics market and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the increase in space missions have been conducted in India, Russia, and China in the past few years.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type– Tier 1- 35%, Tier 2- 45% Tier 3 - 20%
• By Designation— C level -35%, Directors- 25%, Others - 40%
• By Region— North America - 45%, Europe - 20%, Asia Pacific - 30% , RoW - 5%

The radiation-hardened electronics market is dominated by a few globally established players such as Bae Systems (UK), STMicroelectronics (Switzerland), Renesas Electronics (Japan), Honeywell Aerospace & Defense (US), and Infineon Technologies (Germany).

Research Coverage:
The report segments the radiation-hardened electronics market and forecasts its size, component type, manufacturing technique, product type, application and region (Asia Pacific, Europe, North America, and RoW).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the radiation-hardened electronics market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the radiation-hardened electronics market and provides them information on key market drivers, restraints, challenges, and opportunities.
This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of radiation-hardened electronics market will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.

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