DUBLIN--(BUSINESS WIRE)--The "Aerospace & Defense Power Connector Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Current Rating; Connector Shape; Application" report has been added to ResearchAndMarkets.com's offering.
The global aerospace & defense power connector market was valued at US$ 1172.9 Mn in 2019 and is projected to reach US$ 1737.8 Mn by 2027; it is expected to is expected to grow at a CAGR of 5.3% during 2020-2027.
The growing production rate of commercial aircraft is propelling the demand for aerospace & defense power connectors around the world. The stimulating demand for soldier modernization is also one of the major factors driving the global aerospace & defense power connector market. Moreover, the growing popularity of advanced avionics systems provides opportunities for the future growth of the aerospace & defense power connector market players.
However, challenges associated with the production of wide-body aircraft restrain the growth of the market. The growing commercial aircraft demands for several equipment, which are equipped within the aircraft such as avionics systems and engine control and monitoring that, operate at peak efficiency. In the equipment, power connectors play a crucial role as they are used to connect engine control units with the cables of the commercial aircraft electrical system, where they guarantee a consistent transmission of electric signals and power. Various major aircraft providers such as Airbus and Boeing are generating a healthy demand for power connectors owing to their elevated production capabilities. Thus, the growing production rate of commercial aircraft and upcoming variants of existing aircraft would boost the demand for power connectors during the forecast period.
The aerospace & defense power connector market has been segmented on the basis of current rating, connector shape, application, and geography. The market based on current rating is segmented into 5-40 Amp, >40-80 Amp, >80-150 Amp, >150-300 Amp, >300-600 Amp, >600-900 Amp. The 5-40 Amp 5 Amps to 40 Amps segment is expected to hold a prime share of the market during the forecast period. The aerospace & defense power connector market, based on connector shape, is segmented into rectangular and circular. The circular segment led the market in 2019, and it is anticipated to continue its dominance during the forecast period.
Further, the aerospace & defense power connector market, based on application, is segmented into aerospace, military ground vehicle, body-worn equipment, and naval ships. On the basis of geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America (SAM). North America held the major share of the market in 2019 and is expected to continue its dominance till 2027.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aerospace & defense power connector market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aerospace & defense power connector market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Market Driver
- Growing Production Rate of Commercial Aircraft
- Stimulating Demand for Soldier Modernization
Key Market Restraint
- Challenges Related to Production of Wide-body Aircraft may Restrain the Future Growth
Key Market Opportunity
- Growing Popularity of Advanced Avionics Systems to Provide Growth Opportunities
- Increase in Adoption of Miniaturization of Connectors
- AMETEK. Inc.
- Amphenol Corporation
- Arrow Electronics, Inc.
- Collins Aerospace (Raytheon Technologies Corporation)
- Eaton Corporation plc
- Fischer Connectors SA
- ITT Corporation
- Molex, LLC
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/k265bv