A new report from MarketsandMarkets projects that the aviation connections market is to grow from $4.13 billion in 2016 to $5.52 billion by 2022, at a CAGR of 4.97% during the forecast period.
In the report, “Aviation Connectors Market by Application (Landing Gear, Engine Control System, Avionics, Cabin Equipment, Others), Type (PCB, High Power, High Speed, RF Connectors, Fiber Optics), Shape (Circular, Rectangular), & Region – Global Forecast to 2022”, factors such as increase in aircraft orders and deliveries across the globe, need for modern avionic systems, growing concerns over flight safety, and operational and maintenance costs are the major growth factors for the aviation connectors market.
Based on application, the avionics segment is estimated to lead the aviation connectors market during the forecast period. Growth of this segment can be attributed to the increase in aircraft orders and deliveries across the globe, and need for modern avionic systems. Increasing concerns over flight safety, and operational & maintenance costs have led to the need for modern avionics systems.
Based on shape, the circular segment of the aviation connectors market is projected to grow at the highest CAGR during the forecast period, owing the increasing demand for connectors from 3C application (computers, communications, and consumer electronics) in the aviation sector, and for advanced features, convenience, and connectivity products.
The aviation connectors market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. This market in APAC has grown, owing to the rise in aircraft orders in the past five years and overall growth in the procurement of aircraft, thus propelling the demand for aviation connectors. Growing regional economies and modernisation of aircraft programs are additional factors driving the aviation connectors market in this region.
Key players in the aviation connectors market include TE Connectivity, Amphenol, Carlisle Group and Bel Fuse, among others.