South America Backshell Market is expected to reach US$ 50.68 million by 2028

Circular is expected to be the fastest growing segment during the forecast period 2021–2028

 According to a new market research study on “South 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$ 50.68 million by 2028 from US$ 42.48 million in 2021. The market is estimated to grow at a CAGR of 2.6% from 2021 to 2028. The report provides opportunity prevailing in the South America backshell market along with the drivers and restraints pertaining to the market growth. Accelerated military expenditures, heighten development of commercial electric aircraft, and scaling use of aluminium backshell are the major factor driving the growth of the South America backshell market. However, rigorous regulations around mil spec backshells hinder the growth of South America backshell market.

In the South America, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in South America are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. Similarly, the region also experienced a sharp decline in sales of backshell owing to the reduction in demand for aircrafts and temporary closure of their manufacturing facilities. Thus, the above-mentioned factors have adversely impacted the growth of the backshell market in the region.

The South 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 Brazil and Rest of SAM. In 2020, the Brazil 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; and Arrow Electronics, Inc. are among the leading companies in the South 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.