Report : North America Backshell Market Forecast to 2028 - COVID-19 Impact and Regional 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)
Circular Segment to dominate North America Backshell Market during 2020–2028
According to a new market research study on “North America Backshell Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Material, Military Standard and Application,” is expected to reach US$ 253.02 million by 2028 from US$ 190.09 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides opportunity prevailing in the North America backshell market along with the drivers, trend and restraints pertaining to the market growth. Raising use of aluminium backshell, up-lifting electrification of military ground vehicles and boosting military expenditures are the major factor driving the growth of the North America backshell market. However, strict regulations around mil spec backshells hinder the growth of North America backshell market.
Due to favorable government policies to encourage innovation, the presence of a large industrial base, and high purchasing power, North America is one of the most important regions for adopting and developing new technologies, particularly in developed countries such as the United States and Canada. As a result, any influence on industry growth is projected to have a negative influence on the region's economic growth. Businesses in the region have been significantly impacted by COVID-19 in four key areas: supply chain/operations, personnel, 2020 investments, and product offering. Due to the extreme measures adopted during the pandemic, overhead expenditures, including expenditure for sales, research & development (R&D), and administration of various providers, declined unfavorably.
The North America 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 US, Canada, and Mexico. In 2020, the US held the largest share in the market and it is also 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; PEI-Genesis.com; and Isodyne Inc. are among the leading companies in the North America 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.