The global aviation connector market size is likely to touch USD 7.2 billion by 2027, as predicted by Million Insights. The market is estimated to register over 6% CAGR from 2020 to 2027. The rise in manufacturing of new aircraft coupled with growing replacement of old commercial and military aircraft are fueling the market growth.
Governments in several countries such as China, India, U.S and Singapore are making a huge investment in increasing their aircraft fleet size. The demand for aircraft that can work under harsh environment condition is gaining traction. In addition, the advent of innovative technologies such as supersonic avionics, Open Mission System (OMS) and weather technology in aircraft is further augmenting the market growth.
Aircraft electric boards require different kinds of connectors such as Nano, circular, coaxial, micro, and PC card among others. The selection of the exact connector is important in evaluating the life of the different component. Considering the safety requirement in aircraft operation, the need for a reliable and sturdy connector is imperative.
The advanced connectors help in higher overall efficiency. Amid increasing competition, aircraft manufacturers are focusing on using advanced connectors to gain a competitive edge in the market. In addition, key market players are focusing on consolidating their footholds through various strategic measures.
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Further key findings from the report suggest:
• In 2019, the commercial category accounted for the largest share in the aviation connectors market, holding more than 56% share.
• PCB connectors are estimated to hold USD 1.4 billion market value by 2027.
• North America accounted for the highest share in the market in 2019 and the region is anticipated to continue its domination over the forecast duration.
• Major players operating in the market are Eaton Corporation, Rosenberger Group, Esterline Corporation, Conesys Inc., Amphenol Corporation and TE Connectivity among others.
Million Insights has segmented the global aviation connector market on the basis of type, shape, end user, and region:
Aviation Connectors Type Outlook (Revenue, USD Million, 2016 - 2027)
• Fiber Optic
• High Power
• High Speed
Aviation Connectors Shape Outlook (Revenue, USD Million, 2016 - 2027)
Aviation Connectors End-user Outlook (Revenue, USD Million, 2016 - 2027)
• Business Jets
Aviation Connectors Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)