Stainless Steel Segment to dominate Europe Backshell Market during 2020–2028
According to The Insight Partners market research study on “Europe Backshell Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material, Military Standard and Application,” is expected to reach US$ 196.79 million by 2028 from US$ 136.23 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides opportunity prevailing in the Europe backshell market along with the drivers and restraints pertaining to the market growth. Burgeoning military expenditures, elevating use of aluminium backshell, and growing development of commercial electric aircraft are the major factor driving the growth of the Europe backshell market. However, higher regulations around mil spec backshells hinder the growth of Europe backshell market.
Due to the COVID-19 outbreak, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, the impacts are expected to prevail in 2021. The European aircraft manufacturers rely highly on China for supply of component. However, owing to the sudden outbreak of the pandemic and temporary closure of all economic activities both inter and intra nations, impacted the overall manufacturing process, thereby adversely impacted the market growth. Moreover, the demand for backshell also experienced a decline during the COVID-19 outbreak. The coronavirus continues to severely impact air travel and aerospace and defense manufacturing in Europe. Air carriers have either suspended all flights or reduced their flight schedule by 80%. Major A&D manufacturers (with few exceptions) are still maintaining some level of production. Business travel has almost come to a standstill. These factors have reduced the demand for aircraft affecting the production rate of commercial aircrafts thereby negatively impacting the growth of the backshell market.
The Europe backshell market is segmented on the bases of type, material, military standard, application and country. Based on type, the market is segmented into circular and rectangular. In 2020, circular segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on material, the backshell market is segmented into aluminum, nickel, stainless steel, and others. In 2020, the stainless steel segment held the largest share in the market and aluminum is expected to be the fastest growing segment during the forecast period. Based on military standard, the market is segmented into AS85049 Series, MIL-DTL-38999, MIL-DTL-83723, MIL-DTL-5015, MIL-DTL-26482, and others. In 2020, AS85049 Series segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on application, the backshell market is segmented into ground, naval, and air. In 2020, the ground steel segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Similarly, the air segment is further bifurcated into commercial aircraft and military aircraft. In 2020, the commercial aircraft segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the France, Germany, Italy, UK, Russia, and Rest of Europe. In 2020, France held the largest share in the market and Russia is expected to be the fastest growing country during the forecast period.
Amphenol Corporation; Collins Aerospace; TE Connectivity; Souriau Sunbank; Arrow Electronics, Inc.; Glenair, Inc.; Curtiss-Wright Corporation; and PEI-Genesis.com are among the leading companies in the Europe backshell market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.