The global aviation connector market is mainly driven by the demand from the commercial end-users. The proliferation of budget air traveling in emerging economies such as Indonesia, India, and China has created a need for additional airbuses and aircraft. As aviation connectors play an important role in the functioning of aircraft, airbuses, and advanced air-force jets, manufacturers will witness continued growth during the forecast period ranging from 2020 – 2030. The global aviation connector market will grow 1.6X through 2030. Increasing government investments in upgrading end-of-life air force fleets present high-growth opportunities.
Increasing Manufacturing Capacities to Help Market Development
Growing consumer demand for in-flight entertainment increases the demand for high bandwidth copper and fiber optic connectors. Vendors in the aviation connector market are launching advanced products such as ultra-thin, ultra-narrow connectors to cater to the high demand for lightweight connectors to support features such as in-flight entertainment and enhanced safety measures.
The world in general is currently experiencing an exponential increase in terms of air travelling. Thus, to match the growing demand, aircraft manufacturers are ramping up their production capacities. The onus is on high speed communication, improved safety, and increasing passenger capacity. This generates an emerging demand for high speed aviation connectors. On the other hand, air traffic control is facing an urgent need for high-speed communication between pilots and area control centers. On this favorable backdrop, high-speed connectors are the highest growth product type with an impressive CAGR through 2030. Superior data transmission speed offered by this product type is central to the segment’s growth during the forecast period.
Impact of COVID-19 on Aviation Connector Market
The unprecedented effects of coronavirus on the global economy do present a great challenge for all the markets. This is particularly true for aviation connector manufacturers as the abrupt halt in international and domestic air travel has considerably plunged their growth prospects. Orders for new aircraft and appointments of upgrades have been indefinitely postponed. Major players in the market are facing difficult decisions in the first financial quarter of 2020. Budget cuts, loss of production capacity, and a disrupted supply chain are a few of the tough situations that they must deal with.
Private and Business Jet Users to Provide Lucrative Growth Opportunities
In terms of the end-user segment, the commercial application of aviation connectors is the largest segment. The segment accounts for over half of the overall market value of the global aviation connector market. Increasing consumer demand for better quality and superior air travel standards is expected to fuel the overall development of the segment and consequently of that of the global market.
Today’s disruptive business environment has caused a significant shift in wealth distribution across countries. Successful entrepreneurs are purchasing business jets at a rapid rate for various reasons such as employee traveling, personal traveling, and client servicing. This makes the business jets end-use segment the highest growth application of aviation connectors.
Based on the geographical segmentation, the global aviation connector market is segmented into five key regions. These regions are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Developed countries in North America & Europe such as the US, the UK, Germany, France, and Canada are pushing the boundaries of air travel. From advanced communication systems to increasing fuel efficiency, aircraft manufacturers and airline authorities are introducing enhancements frequently. This can be understood as an increase in demand for aviation connector products in these regions as the need for energy-efficient and high-speed transmission directly increases the need for aviation connectors.
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