At 4.2% CAGR, Asia Pacific Radiation Hardened Motor Controller and Motor Drive Market is Projected to be Worth US$ 28.86 Million by 2031, says Business Market Insights 

According to Business Market Insights research, the Asia Pacific radiation hardened motor controller and motor drive market was valued at US$ 20.81 million in 2023 and is expected to reach US$ 28.86 million by 2031, registering a CAGR of 4.2% from 2023 to 2031. Surge in military expenditure and miniaturization of electronic components used in space, defense, medical, and aerospace applications are among the critical factors attributed to driving the Asia Pacific radiation hardened motor controller and motor drive market growth.

The continuously evolving modern warfare landscape compels governments of several nations to assign substantial funds and financial assistance toward respective defense and military forces. Sufficient budget allocations allow army and military forces to purchase improved technologies and equipment from domestic or international developers. Fund allocations also empower army and military vehicles by upgrading efforts of different defense forces. Moreover, prioritizing defense spending demonstrates governments' focus on boosting national security forces. As a result, various countries are taking initiatives to deploy a vast number of military bases for ground, airborne, and naval operations. As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose to US$ 2,332 billion in 2023, representing a 6% increase from 2022. The US, China, India, Russia, the UK, and Saudi Arabia were among the frontrunners in terms of military spending in 2023, and there was an evident increase in new military air base deployments in these countries. The availability of funds allows military forces to procure high-end monitoring, surveillance, tracking, communication, and combating devices and equipment for better handling of warfare situations, which is anticipated to create the need for radiation-hardened motor controllers and motor drives. The figure given below depicts the yearly spending of a few countries.

Military Expenditure of Major Countries (2020–2023)

Source: SIPRI

The burgeoning military expenditure also encourages investments in the construction of new military air bases, which comprise runways, taxiways, hangars, and other military airport infrastructures, along with the procurement of new combat machinery and tracking devices. For instance, the Power Device Corporation has designed and developed the Radiation Tolerant 3-Phase BLDC Motor Torque Controller specifically for harsh warfare environments. Microchip Technology Inc. offers PMSM motor controllers incorporated with radiation-hardened MCUs, which are appropriate for harsh environments in aerospace, defense, and military applications. Microchip Technology also offers LX7720 radiation-hardened motor controllers in line with the trend of highly integrated solutions.

On the contrary, lack of proper testing facilities hampers the growth of Asia Pacific radiation hardened motor controllers and motor drive markets.

By type, the Asia Pacific radiation hardened motor controller and motor drive market is segmented into motor controller and motor drive. The motor drive held 63.6% share of Asia Pacific radiation hardened motor controller and motor drive market share in 2023, amassing US$ 13.24 million. It is projected to garner US$ 19.05 million by 2031 to register 4.7% CAGR during 2023–2031.

By application, the Asia Pacific radiation hardened motor controller and motor drive market is segmented into space exploration, military and defense, nuclear power plants, and others. The space exploration held 40.7% share of Asia Pacific radiation hardened motor controller and motor drive market share in 2023, amassing US$ 8.46 million. It is projected to garner US$ 12.49 million by 2031 to register 5.0% CAGR during 2023–2031.

Based on country, the Asia Pacific radiation hardened motor controller and motor drive market is categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.8% share of Asia Pacific radiation hardened motor controller and motor drive market in 2023. It was assessed at US$ 5.79 million in 2023 and is likely to hit US$ 8.67 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the radiation hardened motor controller and motor drive market are Data Device Corporation; ESI Motion; Frontgrade Technologies; Infineon Technologies AG; MACCON GmbH & Co. KG; Microchip Technology Inc; Micross Components, Inc.; Motiv Space Systems, Inc.; Power Device Corporation; Renesas Electronics Corp; STMicroelectronics NV; Texas Instruments Inc; and TTM Technologies Inc, among others.

• On March 20, 2023: Micross Components, Inc. ("Micross" or the "Company"), a leading provider of high-reliability microelectronic products and service solutions for aerospace, defense, space, medical, and industrial applications, celebrated the grand opening of its new 85,000 sq. ft. state-of-the-art flagship semiconductor and specialty electronics manufacturing facility in Apopka, FL.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com