South America Backshell Market
South America is focused on the modernization of its aircraft and military equipment, despite its low economic growth. The region has increased defense spending over the years owing to its rising border disputes, drug trafficking, and illegal weapon trafficking across the region. The region majorly procures its military supplies, such as missile systems, firearms, and other equipment from local defense firms. However, South America imports helicopters, submarines, armored & unmanned military vessels, and aircraft from countries, such as France, Germany, and the US. AGRALE SA, located in Brazil, is engaged in the manufacturing of defense vehicles for security purposes across South America. It supplies its manufactured products to armed forces and public security agencies across the country. The rise in the production of armed vehicles across the region is expected to increase the demand for backshells for proper electrification across the vehicles. A few of the other local military vehicle manufacturing companies are Fábrica de Armas y Municiones del Ejército (FAME) in Peru, Compañía Anonima Venezolana de Industrias Militares (CAVIM) in Venezuela, INDUMIL in Colombia, and Fábricas y Maestranzas del Ejército (FAMAE) in Chile. New product developments are also observed across the region. For instance, in November 2019, Embraer launched its new multi-mission aircraft C-390 Millennium for applications such as cargo and troop transport, cargo and paratrooper airdrop, and search and rescue operations. Thus, the rising investments by military vehicle manufacturing companies across the region on their product offering, innovation, and modernization are expected to propel the growth of the backshell market in the region during the forecast period.
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.
Strategic insights for the South 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$ 42.48 Million |
| Market Size by 2028 | US$ 50.68 Million |
| Global CAGR (2021 - 2028) | 2.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South 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 South America is expected to grow from US$ 42.48 million in 2021 to US$ 50.68 million by 2028; it is estimated to grow at a CAGR of 2.6% from 2021 to 2028. In the manufacturing of military aircraft, vehicles, and naval vessels, manufacturers are giving significant importance to lightweight components. The lightweight of aircraft, vehicles, and naval vessels helps enhance maneuverability capabilities, which plays a vital role in the compact battlefield. Moreover, the use of lightweight components increases fuel efficiency. Currently, aluminum is getting widely used in various components to reduce the overall weight of military-grade aircraft, vehicles, and vessels. Steel is 2.5 times heavier than aluminum. Also, aluminum has a higher anticorrosion capability, and it does not require any specialized coating compared to that of steel. Further, aluminum is more malleable and elastic than steel; thus, it is considered more desirable. Further, aluminum’s performance in terms of reliability, strength, durability, mil-standards, EMI shielding, environmental protection, and strain relief that of metal and composite backshell. Thus, the increasing emphasis on the use of lightweight components along with the growing demand for military aircraft, vehicles, and vessels drives the growth of the backshell market. The aluminum backshells are gaining importance in the commercial aviation business, as the commercial (civil and general aviation) aircraft manufacturers are consistently striving hard to reduce fuel consumption and CO2 emission and increase endurance. The usage of heavier metallic components restricts the aircraft OEMs to attain the above-mentioned parameters. Owing to this, the usage of lightweight components or parts is surging among these manufacturers. As the commercial aircraft OEMs are emphasizing aluminum backshells for varied connectors, the demand for aluminum backshells is growing among the MRO service providers. Apart from the owners of the newly manufactured aircraft fleet, the owners of the existing aircraft fleet are also concentrating on retrofitting their aircraft models with lightweight and advanced aluminum backshells as these products increase the lifespan of connectors by 4% to 8%. Also, the retrofitting of aluminum backshell helps in reducing aircraft weight, thereby facilitating the aircraft fleet owners to accomplish their weight and CO2 reduction and longer endurance strategies. Due to this, the MRO service providers are increasingly procuring aluminum backshells, which is fueling the growth of the backshell market.
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 South 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; and Arrow Electronics, Inc. among others.
The South America Backshell Market is valued at US$ 42.48 Million in 2021, it is projected to reach US$ 50.68 Million by 2028.
As per our report South America Backshell Market, the market size is valued at US$ 42.48 Million in 2021, projecting it to reach US$ 50.68 Million by 2028. This translates to a CAGR of approximately 2.6% during the forecast period.
The South 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 South America Backshell Market report:
The South America Backshell Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Backshell Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Backshell Market value chain can benefit from the information contained in a comprehensive market report.
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