Report : Aerospace & Defense Power Connector Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Current Rating (5–40 Amp, >40–80 Amp, >80–150 Amp, >150–300 Amp, >300–600 Amp, >600–900 Amp); Connector Shape (Rectangular and Circular); Application (Aerospace, Military Ground Vehicle, Body-worn Equipment, and Naval Ships)
Increasing demand for engine control system application to lead aerospace & defense power connector market growth at 4.6% CAGR during 2020-2027
Aerospace & Defense Power Connector Market to 2027- COVID-19 Impact and Global Analysis and Forecast by Current Rating (5-40 Amp, >40-80Amp, >80-150Amp >150- 300Amp, >300-600Amp, >600-900Amp); Connector Shape (Rectangular and Circular); Application (Aerospace, Military Ground Vehicle, Body-Worn Equipment, and Naval Ships); and Geography
The aerospace industry is flourishing at an exponential rate over the years with a large number of productions and deliveries. The aircraft manufacturers and component manufacturers are witnessing significant pressure from the commercial aviation sector as well as military forces to deliver greater numbers of aircraft. This is compelling the aircraft part manufacturers to supply high volumes of smaller and larger components. The power connectors play a critical role in ensuring optimum functionality of aircraft, which is boosting the demand for power connectors in the aerospace industry. The existence of several power connector manufacturers offering their products with the varied current rating to aircraft OEMs and component OEMs is catalyzing the growth of power connector market for the aerospace industry. In addition, advancements in aerospace technologies, including avionics, electrical systems, and cabin systems, among others, are compelling the power connector market players to innovate newer designs, which is a key factor that is expected to fuel the power connector market during the forecast period. The US, Canada, France, Russia, the UK, and China are a few of the countries that house leading aircraft and aircraft component manufacturers, thus generating high demand for power connectors.
Slower growth of aerospace & defense power connector market due to COVID-19 outbreak
The US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions. The continuous rise in the number of infected individuals has led the governments to impose lockdown across the respective nations. The majority of the manufacturing plants is temporarily shut down or is operating with minimum staff; moreover, the supply chain of components and parts are disrupted.
Since the US has a larger density of aircraft manufacturers and component manufacturers, the outbreak has severely affected the production. The low number of manufacturing staff has resulted in lesser production volumes. On the other hand, the procurement rate of power connectors from the airlines or the MRO service providers has stalled pertaining to the indefinite air travel deferment action. Similarly, the military forces have refrained themselves from procuring the usual quantity of the power connector for maintenance purposes. Thus, the abovementioned factors have had a negative impact on the aerospace & defense power connector market.
On the other hand, the Canadian and Mexican aerospace & power connector markets are also experiencing slower than usual growth due to the COVID-19 outbreak. Several avionics manufacturers, aircraft OEMs, military vehicles, tanks, and body-worn equipment manufacturers operate in these two countries. The imposition of lockdown strategy adopted by respective governments has resulted in labor shortage. Thus, the scarcity of workforce, coupled with lack of demand, has resulted in a substantial loss in the Canadian and Mexican aerospace & defense power connector market.
The report segments the global aerospace & defense power connector market as follows:
By Connector Shape