According to our latest study on "Radiation Hardened Motor Controller and Motor Drive Market Size and Forecast (2021–2031), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Application, and Geography," the Radiation Hardened Motor Controller and Motor Drive Market size was valued at US$ 84.95 million in 2023 and is expected to reach US$ 111.38 million by 2031. The Radiation Hardened Motor Controller and Motor Drive Market is estimated to record a CAGR of 3.4% from 2023 to 2031.
Rise in Number of Satellite Launches to Provide Lucrative Opportunities for Radiation Hardened Motor Controller and Motor Drive Market Growth During Forecast Period
The report includes growth prospects owing to the current Radiation Hardened Motor Controller and Motor Drive Market trends and their foreseeable impact during the forecast period. The rising investments in satellite launch programs for applications such as communications, earth observation, and navigation indicate a broader commitment to space technology. According to the United Nations Office for Outer Space Affairs (UNOOSA), 2,474 satellites were launched across the world in 2022, compared to 1,810 launches recorded in 2021. In August 2024, the Indian Space Research Organisation (ISRO) launched the EOS-08 Earth Observation Satellite onboard the Small Satellite Launch Vehicle-D3 (SSLV-D3) from the Satish Dhawan Space Centre in Sriharikota. In January 2024, Iran launched 3 satellites utilizing its carrier rocket fabricated under guidance by the Ministry of Defense and Armed Forces Logistics. In February 2024, the Indian National Space Promotion and Authorization Centre announced that it would accelerate space activity with 30 satellite launches planned in 2025. In February 2024, SpaceX provided a satellite to NASA with a valuation of US$ 948 million, primarily designed to understand climate change. In March 2024, SpaceX launched a Falcon 9 rocket on the Starlink flight from Vandenberg Space Force Base. It accomplished 91 launches with its Falcon 9 rocket and another 5 with the Falcon Heavy in 2023, exceeding its previous annual record of 61 orbital launches in 2022. In 2023, China initiated the launch of 3 low Earth orbit broadband test satellites. UK Space Command is expected to launch operational concept demonstrator satellites under the Project Minerva and as a part of the ISTARI program by 2026. In 2023, France's Arianespace launched 12 satellites into space. In 2023, SpIRIT (which stands for Space Industry – Responsive – Intelligent – Thermal) nanosatellite was launched with the help of the Australian Space Agency's International Space Investment – Expand Capability Scheme. The satellite has been built in collaboration with the Italian Space Agency and several companies in the Australian space industry. The launch was operated by the University of Melbourne. Therefore, the increasing number of satellites launches and space exploration activities fueling the radiation hardened motor controller and motor drive market growth.
Radiation Hardened Motor Controller and Motor Drive Market Report: Key Findings
The Radiation Hardened Motor Controller and Motor Drive Market analysis is based on segmental assessment. Based on type, the market is segmented into motor controller and motor drive. In terms of motor drive, the market is categorized into AC drive, DC drive, brushless direct current motors (BLDC). Based on application, the market is segmented into space exploration, military and defense, nuclear power plants and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific (APAC), and South & Central America.
The space exploration segment held the largest Radiation Hardened Motor Controller and Motor Drive Market share in 2023. Space is an extremely adverse environment with harsh temperature conditions (varying from extreme cold to scorching heat), vacuum, and intense radiation exposure. Space-rated motor controllers and drives are primarily designed to endure these conditions, delivering consistent functioning without succumbing to intense temperatures or radiation-induced failures. In space missions, reliability is of utmost importance. Failures can be expensive costing huge amounts of money and human lives. Space-rated motor controllers and drives are subjected to severe testing and quality control operations to evaluate their ability to function for extended periods without failure. Space is filled with numerous forms of radiation, including cosmic rays and solar radiation, which can harm electronic components and lead to malfunctions or crashes. Space-rated motor controllers and drives are designed with radiation-hardened components and shielding to alleviate the effects of radiation. Different space missions have different requirements for motor controllers and drives, such as specific speed, torque, or precision needs. Space-rated motor controllers can be tailored to fulfill these mission-specific requirements.
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