North America Backshell Market
The aerospace and defense industry in the US is one of the leading industries globally in terms of infrastructure and production activities. The total sales of the industry in 2019 accounted for US$ 909 billion, thereby recording a 6.7% increase compared to 2018. US$ 399 billion of the total sales were attributed by the companies that support both aerospace and defense sectors such as manufacturers of bolts, wires, hoses, and electronics amongst others. Thus, the total industry sales left a significant impact on the American economy contributing to 1.8% of the total US GDP. Additionally, in 2019, the exports from the US civil aviation industry and defense aviation accounted for US$ 126.5 billion and 21.6 billion, respectively. North America has a rich presence of companies, such as Boeing, Lockheed Martin Corporation, and Bombardier, who are engaged in the manufacturing of civil and defense aircraft. These companies are significantly investing in the manufacturing of aircrafts every year and in building new manufacturing facilities across the region. For instance, in January 2019, Airbus started the construction of its A220 passenger aircraft manufacturing site in Alabama, US. Similarly, in April 2021, the US Army started upgrading its FLRAA (Future Long-Range Assault Aircraft) and FARA (Future Attack Reconnaissance Aircraft) aircraft to survive battle damage, environmental shocks, and operational strains. Moreover, the region homes military ground vehicle manufacturers such as Oshkosh Defense, LLC; General Dynamics Corporation; and AM GENERAL LLC who further demand backshells for their production process. Thus, the rising expenditure by the above-mentioned companies on the production of respective aircraft and vehicles is positively impacting the growth of the backshell market in the region.
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.
Strategic insights for the North America 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$ 190.09 Million |
| Market Size by 2028 | US$ 253.02 Million |
| Global CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 190.09 million in 2021 to US$ 253.02 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. As world warfare continues to emerge in different ways, various nations plan and undertake measures to improve and recapitalize their defense status. Threats are continually evolving, i.e., from the conventional land-based force on force to hybrid warfare. To address security threats and tackle terrorism, governments of several nations have already started to increase their defense budgets. The US is among the leading countries that are increasing their defense budget year on year. A substantial amount of military budget is getting allocated for the procurement of advanced military carrier and combat aircraft, vehicles, and naval vessels. The AS85049 Series, MIL-DTL-38999, MIL-DTL-83723, MIL-DTL-5015, and MIL-DTL-26482 are a few major military-grade connectors that are widely used across the components of advanced military carrier and combat aircraft, vehicles, and naval vessels. To safeguard the connectors, several backshells with a similar military grade to the above-mentioned connectors are being produced by various manufacturers. This is catalyzing the growth of the backshell market in the current scenario. From the production perspective of military aircraft, military ground vehicles, and naval ships, the production volume is surging at a decent rate, which is supporting the growth of the backshell markets.
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 North America 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; PEI-Genesis.com; and Isodyne Inc. among others.
The North America Backshell Market is valued at US$ 190.09 Million in 2021, it is projected to reach US$ 253.02 Million by 2028.
As per our report North America Backshell Market, the market size is valued at US$ 190.09 Million in 2021, projecting it to reach US$ 253.02 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The North America 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 North America Backshell Market report:
The North America Backshell Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Backshell Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Backshell Market value chain can benefit from the information contained in a comprehensive market report.
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