888-776-0942 from 8 AM - 10 PM ET
NEW YORK , Feb. 18, 2022 /PRNewswire/ -- The military connectors market potential growth difference will be USD 1.56 billion from 2021 to 2026, according to the latest market outlook report by Technavio. The report also identifies the market to witness a decelerating growth momentum at a CAGR of 5.05% during the forecast period. This market analysis report also offers a detailed customer landscape matrix comparing key industry-driven parameters.
Read our FREE Sample Report for CAGR and YOY Growth Rate Insights
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing penetration of underwater mining activities. The surge in military expenditure will further support the growth of the military connectors market during the forecast period. For instance, in February 2021 , the Government of India announced an investment of around USD 540.4 million for deep-sea oceanography projects over the next five years. The new project will promote the country's deep-sea mining, exploration, and deep-sea biodiversity conservation. Furthermore, the increased upgrading and modernization of aircraft to better equip pilots for safe flying will also fuel the market's growth positively during the forecast period.
However, one of the key challenges to the global military connectors market growth is the increase in wage rates and competition among the vendors. Manufacturers are focusing on M&A to hold onto the top positions. Moreover, there is an intense competition taking place in the product segments, with companies seeking to adopt aggressive pricing strategies. However, choosing such raw materials without conducting proper research on them (due to low investments in R&D) leads to inferior quality products that impact the brand reputation. Such factors are expected to negatively impact the growth of the market in the forthcoming years.
View Market Outlook for additional factors influencing the market's growth
The military connectors market is segmented by type (circular, rectangular, and fiber optic), application (army, airforce, and underwater), and geography (North America , APAC, Europe , South America , and MEA). The circular type segment held the largest military connectors market share in 2020 and will continue to account for the largest market share during the forecast period. The growth is attributed to the significant increase in demand for circular connectors for military, transportation, industrial, and medical equipment applications. The army application segment held the largest market share and will continue to account for the highest share throughout the forecast period. Demanding aerospace, industrial, marine, automotive and commercial applications now use these connectors extensively. Military circular connectors are used in the army to perform a variety of functions, such as transmitting signals for communication or sending power supply from one device to another. In terms of Geography, 32% of the market's growth will originate from North America during the forecast period. The US is the key market for military connectors in North America. The significant increase in demand from various military establishments from countries such as the US, Canada , and Mexico and the presence of globally leading companies in the military and defense sectors will facilitate the military connectors market growth in North America over the forecast period.
Download Sample Report for More highlights on each contributing segment.
The military connectors market covers the following areas:
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters
Military Connectors Market Sizing Military Connectors Market Forecast Military Connectors Market Analysis Top Military Connectors Market Participants Classified as Dominant Players in the Report are:-
Subscribe to our "Lite Plan" billed annually at USD 3000 to join a community, who are eligible to view 3 reports monthly and download 3 reports annually.
Related Reports: Military Laser Rangefinder Market by Product and Geography - Forecast and Analysis 2022-2026
Police and Military Simulation Training Market by Product and Geography - Forecast and Analysis 2021-2025
Decelerate at a CAGR of 5.05%
North America, APAC, Europe, South America, and MEA
US, China, India, Russian Federation, and Germany
Leading companies, competitive strategies, consumer engagement scope
Amphenol Corp., Conesys, Eaton Corp. Plc, Fischer Connectors SA, Glenair Inc., ITT Inc., ODU GmbH and Co. KG, Smiths Group Plc, TE Connectivity Ltd., and Weald Electronics Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET