Report : Backshell Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Circular Backshell and Rectangular Backshell), Material (Aluminum, Nickel, Stainless Steel, and Others), Military Standards (AS85049, MIL-DTL-38999, MIL-DTL-83723, MIL-DTL-5015, MIL-DTL-26482, and Others), and Application (Ground, Naval, and Air)
Development of Commercial Electric Aircraft to Provide Growth Opportunities for Backshell Market during 2021–2028
According to our new research study on “Backshell Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Material, Military Standard, Application, and Geography,” the market is projected to reach US$ 752.59 million by 2028 from US$ 536.84 million in 2021; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.
With the growing concern over carbon emissions, various industries are getting inclined toward the adoption of clean technology to reduce their respective carbon footprints. In terms of transportation, the automotive industry is currently experiencing a significant shift toward electrification. However, the aerospace industry is investing notably in developing electric aircraft. The rising price of fuels is one of the major factors that are driving the aerospace industry to develop electric solutions. Moreover, half of all global flights are shorter than 500 miles. The military-grade connectors along with respective backshells have their applications in commercial electric aircraft. Meanwhile, in August 2020, DHL Express, a German postal services giant, ordered 12 electric aircraft from Eviation, and in July 2021, United Airlines announced the purchase of 100 19-seat ES-19 electric planes from Heart Aerospace. Also, less maintenance, fewer moving components, and lower electricity cost substantially reduce the overall operational cost of an electric aircraft. Thus, the emergence of electric aircraft is expected to create lucrative growth opportunities for the backshell market in the coming years.
The global backshell market is segmented on the basis of type, material, military standard, application, and geography. Based on type, the market is bifurcated into circular and rectangular. The circular segment held a larger market share in 2020. Based on material, the backshell market is segmented into aluminum, nickel, stainless steel, and others. The stainless steel segment held the largest market share in 2020. Based on military standard, the backshell market is segmented into AS85049 Series, MIL-DTL-38999, MIL-DTL-83723, MIL-DTL-5015, MIL-DTL-26482, and others. The AS85049 series segment held the largest market share in 2020. Based on application, the market is segmented into ground, naval, and airborne. The ground segment held the largest market share in 2020. Based on geography, the global backshell market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
Impact of COVID-19 Pandemic on Backshell Market
The COVID–19 outbreak has decimated the demand for aircraft across the world. Owing to the crisis, aircraft manufacturers witnessed the reduction in the volumes of orders, which resulted in a lower number of productions. The decline in production volumes adversely affected the businesses of various component manufacturers and associated technologies. Thus, the backshell market players' businesses have been severely affected by the destabilization in aircraft production. This factor negatively impacted the growth of the backshell market.
Amphenol Corporation; Arrow Electronics, Inc.; Collins Aerospace.; Curtiss Wright Corporation; Glenair, Inc.; Isodyne Inc.; Pei-Genesis; Souriau Sunbank (Eaton); TE Connectivity; and Techniran Ltd are among the major companies operating in the backshells market.
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