The radiation hardened motor controller and motor drive market size is expected to reach US$ 111.38 million by 2031 from US$ 84.95 million in 2023. The market is estimated to record a CAGR of 3.4% from 2023 to 2031. Miniaturization of electronic components used in space, defense, medical, and aerospace applications is likely to continue to be a key market trend in the future.
Increasing military expenditure encourages investments in the procurement of new military aircraft, vehicles, combat machines, surveillance, and tracking devices, in turn, propelling the demand for radiation hardened motor controllers and motor drives in the manufacturing and integration of these devices. Additionally, geopolitical tension and airborne threats are a few of the factors encouraging governments to make investments to support the deployment of advanced aircraft and warfare equipment tolerant to radiation exposure. Further, nuclear power plants are among the chief application areas of radiation-hardened motor controllers and motor drives, as the infrastructure is at a high risk of exposure to radiation. Thus, the growing number of nuclear power plants being operated and built to ensure energy security bolsters the radiation hardened motor controller and motor drive market across the world.
The space sector is undergoing continuous developments with the mounting emphasis on deploying satellite constellations, increasing investments in the space sector, and the soaring adoption of rideshare services, which benefits the radiation hardened motor controllers and motor drives market across the world. Satellite manufacturing companies are focusing on procuring advanced satellite components to remain competitive in the markets they serve. In January 2024, Bellatrix Aerospace launched Rudra and Arka propulsion systems onboard the Indian Space Research Organisation's (ISRO) PSLV C-58 launch vehicle. The rising number of satellite launches with surging space exploration operations and strategic initiatives by market players positively impact the global radiation hardened motor controller and motor drive market.
Heightened investments and funding in satellite launch programs reflect a mounting emphasis on satellite deployment, space exploration, and space-based services. The public sector generates a significant demand for heavy- and super-heavy-lift space launch services, while the private sector heads the demand for small- and medium-lift satellites. The demand for small- and medium-lift satellites is increasing at a faster pace among these two categories owing to the mounting need for low Earth orbit constellations or small satellites for telecommunications. Orbital mining, manufacturing, and tourism are among the other factors driving private investments in space launch technologies. The Falcon 9 medium-lift rocket of SpaceX is NASA's launch vehicle for orbital missions, and the company has also been assigned to design the space vehicle for the organization's Artemis 3 mission to the moon. Similarly, NASA is anticipated to extend its collaborations with the private sector to procure commercial space services and support innovations for commercial purposes.
In 2023, HyPrSpace, Leonardo, Thales, and CT Engineering received funding for a project worth US$ 38 million to demonstrate a new type of rocket engine to be launched into space. Owing to such investments, radiation hardened motor controllers and motor drive manufacturers focus on developing radiation-tolerant motor controllers and drives for advanced satellite systems. Therefore, the increasing number of satellite launches drives the growth of the radiation hardened motor controller and motor drive market.
Manufacturers of high-end electronic components for real-time imaging, 5G/6G communications, and nuclear instrumentation for the space, nuclear, and defense sectors face challenges due to the limited accessibility of radiation-hardened components. The development and fabrication of commercial-off-the-shelf (COTS) solutions are perceived as an alluring option for lowering the excess costs incurred by this challenge in space operations. COTS solutions are mature and widely deployed products that are established on a solid architecture and diverse peripherals such as Ethernet and CAN. Moreover, the radiation-hardened-by-design approach can ensure sustained performance, availability, and financial benefits. COTS solutions are also associated with reduced development time and production expenses, curtailing entry barriers for new enterprises that are pursuing engagement in the defense, space, and nuclear sectors. Radiation-hardened COTS solutions are particularly fascinating because of their capability to aid in fast implementation in response to shifting demands and technical advancements. Thus, the fabrication of COTS is expected to generate significant opportunities for the radiation hardened motor controller and motor drive market growth.
Key segments that contributed to the derivation of the radiation hardened motor controller and motor drive market analysis are type, motor drive, and applications.
The radiation hardened motor controller and motor drive market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and Asia Pacific, respectively.
The space sector in the US has witnessed significant investments to promote the launch of satellites. For instance, in January 2024, the US government launched a satellite constellation award worth US$ 10 billion. This contract was awarded to a few major manufacturers, such as Lockheed Martin, Northrop Grumman, and L3Harris. Its scope includes the launch of more than 400 satellites in space, including the geostationary orbit (GEO) and lower earth orbit (LEO). The US was a frontrunner in the world in terms of satellite launches in 2023. SpaceX independently launched 98 of the 109 satellite launch attempts made by the US in 2023, while 1,937 of the 2,234 US-built satellites were successfully orbited that year. Thus, the emphasis on satellite launches and an upsurge in government budget allocations for the space sector bolster the radiation hardened motor controller and motor drive market in the US.
There is a rise in demand for high-performance electronic components in 5G/6G communication, real-time imaging, and nuclear power generation in Asia Pacific countries. The radiation hardened motor controller and motor drive market growth in Asia Pacific is attributed to the increasing need for improving satellite-based navigation, communication, and remote sensing applications. Moreover, the rising deployment of satellites and other payloads into orbit by ASEAN countries is creating a massive opportunity for the radiation hardened motor controller and motor drive market growth.
The regional trends and factors influencing the Radiation Hardened Motor Controller and Motor Drive Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Radiation Hardened Motor Controller and Motor Drive Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 84.95 Million |
| Market Size by 2031 | US$ 111.38 Million |
| Global CAGR (2023 - 2031) | 3.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Radiation Hardened Motor Controller and Motor Drive Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Radiation Hardened Motor Controller and Motor Drive Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The radiation hardened motor controller and motor drive market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the radiation hardened motor controller and motor drive market are listed below:
(Source: Micross Components, Inc.; Press Release; March 2023)
The "Radiation Hardened Motor Controller and Motor Drive Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - Radiation Hardened Motor Controller and Motor Drive Market
The radiation hardened motor controller and motor drive market was valued at US$ 84.95 million in 2023; it is expected to register a CAGR of 3.4% during 2023–2031.
Rise in number of satellite launches, surge in military expenditure, and increase in establishment of nuclear power plants are some of the factor driving the radiation hardened motor controller and motor drive market growth.
Miniaturization of electronic components used in space, defense, medical, and aerospace applications is expected to drive the growth of the radiation hardened motor controller and motor drive market in the coming years.
The key players operating in the radiation hardened motor controller and motor drive market include Microchip Technology Inc., MACCON GmbH & Co. KG, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, Data Device Corporation, Power Device Corporation, Frontgrade Technologies, ESI Motion, Motiv Space Systems Inc., TTM Technologies Inc., and Micross Components, Inc.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
The radiation hardened motor controller and motor drive market is expected to reach US$ 111.38 million by 2031.