Europe Backshell Market
A substantial increase in defense spending coupled with the rise in demand for military and commercial aircraft is contributing to the growth of the aerospace and defense industry across Europe. Constantly rising expenditure in research & development for manufacturing and technology integration across the aerospace and defense industry is also bolstering the growth of the aerospace and defense market in the region. Moreover, active initiatives by the European government to promote both civil and military aviation through funds and other contributions are also supporting the growth of the market. Several companies engaged in the production of both civil and defense aircraft are headquartered in Europe. Airbus S.A.S.; Leonardo S.p.A.; and Dassault Aviation are among the major aircraft manufacturers in the region. General Dynamics European Land Systems (GDELS); Rheinmetall AG; and KNDS are a few military vehicle manufacturers present in the region. The rising investments by these companies in strategic partnerships with local and international government bodies to supply aircraft and military vehicles are promoting the growth of the backshell market. For instance, in January 2021, GDELS partnered with the Austrian Ministry of Defense to supply 30 PANDUR 6x6 Evolution (Evo) wheeled armored vehicles. These vehicles are designed as Armored Personnel Carriers (APCs), which can be converted to casualty evacuation vehicles owing to their modular design. Similarly, in December 2020, the Danish Ministry of Defense and GDELS entered a strategic partnership to supply 56 PATROL vehicles and the prototype of the RECONNAISSANCE Open variant to the former. The rising partnerships among the aircraft and military vehicle manufacturing companies with government bodies are increasing the production of armored vehicles and aircraft, which is propelling the demand for backshells across Europe.
Due to the COVID-19 outbreak, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, the impacts are expected to prevail in 2021. The European aircraft manufacturers rely highly on China for supply of component. However, owing to the sudden outbreak of the pandemic and temporary closure of all economic activities both inter and intra nations, impacted the overall manufacturing process, thereby adversely impacted the market growth. Moreover, the demand for backshell also experienced a decline during the COVID-19 outbreak. The coronavirus continues to severely impact air travel and aerospace and defense manufacturing in Europe. Air carriers have either suspended all flights or reduced their flight schedule by 80%. Major A&D manufacturers (with few exceptions) are still maintaining some level of production. Business travel has almost come to a standstill. These factors have reduced the demand for aircraft affecting the production rate of commercial aircrafts thereby negatively impacting the growth of the backshell market.
Strategic insights for the Europe Backshell provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 136.23 Million |
| Market Size by 2028 | US$ 196.79 Million |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Backshell refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The backshell market in Europe is expected to grow from US$ 136.23 million in 2021 to US$ 196.79 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. With the growing concern over carbon emissions, various industries are getting inclined toward the adoption of clean technology to reduce their respective carbon footprints. In terms of transportation, the automotive industry is currently experiencing a significant shift toward electrification. However, the aerospace industry is investing notably in developing electric aircraft. The rising price of fuels is one of the major factors that are driving the aerospace industry to develop electric solutions. Moreover, half of all global flights are shorter than 500 miles. The military-grade connectors along with respective backshells have their applications in commercial electric aircraft. A few companies such as Eviation, magniX, Heart Aerospace, Pipistrel, Ampaire, Bye Aerospace, and Zunum Aero are front runners in the electric aircraft arena. Also, less maintenance, fewer moving components, and lower electricity cost substantially reduce the overall operational cost of an electric aircraft. Thus, the emergence of electric aircraft is expected to create lucrative growth opportunities for the backshell market in the coming years, as the electric aircraft models would require significantly higher volumes of connectors. The volume of backshells is directly proportional to the volume of connectors, which is the catalyst for the backshell market growth.
In terms of type, the circular segment held a larger share in 2020. Based on material, the stainless steel segment held the largest share in 2020. Based on military standard, the AS85049 series segment held the largest share in 2020. Based on application, the ground segment held the largest share in 2020.
A few major primary and secondary sources referred to for preparing this report on the backshell market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amphenol Corporation; Collins Aerospace; TE Connectivity; Souriau Sunbank; Arrow Electronics, Inc.; Glenair, Inc.; Curtiss-Wright Corporation; and PEI-Genesis.com among others.
The Europe Backshell Market is valued at US$ 136.23 Million in 2021, it is projected to reach US$ 196.79 Million by 2028.
As per our report Europe Backshell Market, the market size is valued at US$ 136.23 Million in 2021, projecting it to reach US$ 196.79 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Europe Backshell Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Backshell Market report:
The Europe Backshell Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Backshell Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Backshell Market value chain can benefit from the information contained in a comprehensive market report.
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