The global aviation connector market size is expected to reach USD 7.2 billion by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increased manufacturing of new aircraft in the commercial and military sectors for replacing the lesser efficient fleet.
The governments of prominent countries such as U.S., Singapore, India, and China are making significant investments for upgrading their military jets and aircraft fleets, which are specially designed for harsh weather and war conditions. Moreover, the introduction of new technology and solution in business jets, commercial and general aircraft avionics systems such as real-time weather technology, supersonic avionics, and Open Mission Systems (OMS) Software is also expected to provide an impetus to market growth.
The manufacturing of electronic boards and controls for aircraft require a different type of connectors such as PC card, Flat or ribbon Cable, Circular/Cylindrical, Nano, Micro, or Coaxial. The selection of the right type of connector is crucial in determining the functionality and service life of the component and electrical connection. As aircraft fly under high air pressure, the need for a sturdy and reliable connector becomes more vigilant.
The use of advanced aviation connectors contribute towards robust avionic system performance and assist in achieving higher efficiency. With the growing competition, it has become essential for the aircraft manufacturer to incorporate such latest cutting-edge technology and components, which proves beneficial in driving their sales performance. Moreover, vendors in the aviation connector market space are keenly launching new products and adopting an expansion strategy to strengthen their foothold in the market. For instance, in October 2019, the Angelus Corporation division named PIC Wire and Cable launched MACHFORCE, which is a 10G Ethernet connectors line of product. Therefore, competition among the prevailing and emerging vendors is anticipated to intensify further in the next five years.
Further key findings from the report suggest:
- The commercial segment accounted for over 56% of the revenue share in 2019
- Revenue from the PCB connector segment is expected to reach approximately USD 1.4 billion by 2027 The growth of the segment is attributed to the need for connecting electrical components securely, which facilitates transmission of signal and power between the boards in the aviation system
- The North America region is expected to dominate the global aviation connector market by 2027 owing to the presence of a large manufacturing hub for commercial, military, and trainer aircraft
- Some of the major players operating in the market are Amphenol Corporation; Bel Fuse Inc.; Carlisle Companies Inc.; Conesys Inc.; Eaton Corporation; Esterline Corporation; Fischer Connectors SA; ITT Corporation; Radiall and CONEC Elektronische Bauelemente GmbH; Rosenberger Group; Smiths Group PLC; and TE Connectivity.