Abstract: Electronics devices are made on IC’s, the basic building block of these IC’s are transistors. Transistors are continuously upgraded to new forms from conventional BJT to the latest FinFET. The purpose of this paper is to provide a clear and exhaustive understanding of the state of the art, challenges, and future trends of silicon based devices to produced reliable output for a longer time period even in abnormal conditions like in space. The modeling techniques for the conventional transistor, different strategies have been proposed over the last years to model the FinFET behavior and increasing the storage capacity of the IC by increasing the number of transistors without occupying more space on the same IC. The behavior of the device is impacted by radiation, heat, and temperature, by which the overall performance of the devices is affected a lot. Keywords: CMOS, MOSFET, FinFET, diode, transistor, subthreshold voltage, threshold voltage, electromigration, and charge trapping.